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<p>[QUOTE="Pocket Change, post: 528734, member: 8012"]I think that most are not understanding what the OP is talking about. This is not Forex trading nor does the IRS need to get more involved than it already is with foreign earned income (that was a funny one). I can understand why he "declined" to comment - there is nothing to comment on.</p><p><br /></p><p>OP apparently has a source of income and a bank account in Portugal and a source of income and a bank account in the US.</p><p><br /></p><p>All he is saying is that as the currency fluctuates, take from the account that is the most advantageous.</p><p><br /></p><p>That's it. No funny business. It's just one of those things that's in front of your nose and you don't realize it. For example, I bet there are a lot of people who pay off their credit cards without taking into consideration the APR. You should be focussing on paying off the higher APR cards first - but does everyone do that? - just an example.</p><p><br /></p><p>Of course, the "scheme" (ha ha) only works well if you don't run out of money in one or the other accounts. </p><p><br /></p><p>One other assumption is that the exchange rate swings back and forth - in other words, the dollar will be strong for awhile, then the Euro, etc. Otherwise, the gains will eventually stop.[/QUOTE]</p><p><br /></p>
[QUOTE="Pocket Change, post: 528734, member: 8012"]I think that most are not understanding what the OP is talking about. This is not Forex trading nor does the IRS need to get more involved than it already is with foreign earned income (that was a funny one). I can understand why he "declined" to comment - there is nothing to comment on. OP apparently has a source of income and a bank account in Portugal and a source of income and a bank account in the US. All he is saying is that as the currency fluctuates, take from the account that is the most advantageous. That's it. No funny business. It's just one of those things that's in front of your nose and you don't realize it. For example, I bet there are a lot of people who pay off their credit cards without taking into consideration the APR. You should be focussing on paying off the higher APR cards first - but does everyone do that? - just an example. Of course, the "scheme" (ha ha) only works well if you don't run out of money in one or the other accounts. One other assumption is that the exchange rate swings back and forth - in other words, the dollar will be strong for awhile, then the Euro, etc. Otherwise, the gains will eventually stop.[/QUOTE]
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