Legal non-U.S. banking for U.S. citzens?

[mattley]

I continue my quest to keep "Ask iTulip" alive and kicking.

Does anyone know how I can hold my money in a non-U.S. or multinational bank, using a non-U.S. currency?

I think what I would like is an account with a Canadian bank and hold my money in CAD, but I'm open to other suggestions.

My goal is to hedge against US $ depreciation, and keep liquidity with reasonably low transaction costs. No ETFs (have some already). Nothing complicated, just a reliable (ok, reliable-ish?) bank that U.S. residents can use to hold multiple-currency balances.

Any suggestions?

[walenk]

Would this do? Sorry, no paranoia or nothing.

http://www.everbank.com/001CurrencyAccess.aspx?LinkID=Body1

[phirang]

Wait for the "global world order" to emerge before going bonkers on the FX.

[mattley]

Walenk, thanks for the suggestion but I do not trust Everbank. Google on them a bit and you will find many complaints.

Phirang, yes, I have been taught some painful lessons about FX already. This is more about setting up options for the future rather than making a big shift today.