Coffeehouse Thread

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US Dolar sinks, what do you think?

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  • User profile image
    littleguru

    Ohh. It's sinking again... It's very low already. *thinking to change the prices for his ORM to €*

  • User profile image
    Tensor

    JohnAskew wrote:
    
    ScanIAm wrote: I propose a new world monetary standard called the "kilocalorie"


    I second the motion.


    Ah but over here we'll have to use the Joule. BEfore you know it there will be a market in selling calories for Joules and vice versa, and those damn economists will be breaking the laws of thermodynamics.

  • User profile image
    JohnAskew

    Tensor wrote:
    
    JohnAskew wrote: 
    ScanIAm wrote: I propose a new world monetary standard called the "kilocalorie"


    I second the motion.


    Ah but over here we'll have to use the Joule. BEfore you know it there will be a market in selling calories for Joules and vice versa, and those damn economists will be breaking the laws of thermodynamics.


    Hey, what about a web site for trading methane emission credits?

  • User profile image
    Cannot​Resolve​Symbol

    JohnAskew wrote:
    
    Tensor wrote: 
    JohnAskew wrote: 
    ScanIAm wrote: I propose a new world monetary standard called the "kilocalorie"


    I second the motion.


    Ah but over here we'll have to use the Joule. BEfore you know it there will be a market in selling calories for Joules and vice versa, and those damn economists will be breaking the laws of thermodynamics.


    Hey, what about a web site for trading methane emission credits?


    Come to Taco Bell with me and I'll give you some of those for free!  Tongue Out

  • User profile image
    Secret​Software

    Why is it falling? Is it because of the Chinese and the EU?, or because US is melting into the new NAU?

  • User profile image
    JohnAskew

    SecretSoftware wrote:
    

    Why is it falling? Is it because of the Chinese and the EU?, or because US is melting into the new NAU?




    Factors are the drop in the price of oil, the anti-Middle-Eastern attitude Congress showed (at the USA citizens' request) in demanding the Dubai government not run USA port security.

    OPEC nations are hesitant to invest in the USA now. 

    OPEC is 2.5 times more of USA trade deficit than China, though China's trade surplus with the USA is still growing.

    This means fewer buyers of dollars, namely, OPEC.

    The dominant factor is the oil trade deficit of the USA's.

    Many argue that OPEC has artificially propped up the value of the dollar since the 1970s, and that it is a good thing this is happening. 

    It makes US goods cheaper overseas, and imported goods more expensive in the USA. While this should help productivity in the US, it may ignite an inflationary trend -- which will really hit the middle class hard.

  • User profile image
    Ping

    SecretSoftware wrote:
    

    Why is it falling? Is it because of the Chinese and the EU?, or because US is melting into the new NAU?



    The whole world is dependant on US Dollar too much, It's just like some one is relying on Caffeine, a little less is good for the health, although the person don't feel fine because of that.
     I believe this situation can help the world trade healthy grow.Tongue Out

  • User profile image
    Harlequin

    Ping wrote:
    
    I believe this situation can help the world trade healthy grow.


    Absolutely. When the U.S. was screwing us(Canada) over softwood lumber we just started talks with places like China to open new markets Smiley

    Things change.

  • User profile image
    Secret​Software

    Hi,
        There is an interesting Article in Free Market News, dealing with stocks and currency. In it , there is an announcement that US dollar is crashing:

    Article Wrote wrote:

    It’s official. Mark your calendars. The crash of the U.S. economy has begun. It was announced the morning of Wednesday, June 13, 2007, by economic writers Steven Pearlstein and Robert Samuelson in the pages of the Washington Post, one of the foremost house organs of the U.S. monetary elite. Pearlstein’s column was titled, “The Takeover Boom, About to Go Bust” and concerned the extraordinary amount of debt vs. operating profits of companies currently subject to leveraged buyouts. -Global Research



    There is a link to original article. Why is this happening now? They claim that it is because China holds trillions of dollars in US national debt. And in other related articles, there is talk that certain countries have plans to stop using the US Dollar as a currency for business, and that this will collapse the US Dollar.


    The announcement was made in the Washington Post by top economists in the US.

    what does this mean for ordinary citizens in the US? Why is the US economy facing collapse?

    There is a move by investors in the Asian Markets to trade in Gold, and precious metals, and to abandon the US dollar. But what are the consequences of this to the world and to US dominance in the World?

    We certainly live in changed times. I can smell it in the air, I can taste it in the water, I can feel it in the winds.

    What ever will happen, I hope the guys in the US Fed , find a solution to this.

    Save the Titanic from sinking.

  • User profile image
    ewschone

    I certainly dont mind the lower dollar as an EU citizen. Have been ordering a lot of books / cd's from amazon.com lately, even with the postage charges, it's still a lot cheaper than here in the EU.

  • User profile image
    DoomBringer

    I wonder when the petro markets will move off the dollar.  For many years now, you had to buy dollars to be able to trade oil.  I think the Russians moved theirs to the ruble.  Smart move.

    The amount of US public debt owned by foreign countries is staggering.  I wonder if that is starting to sink in or not.

  • User profile image
    Secret​Software

    DoomBringer wrote:
    I wonder when the petro markets will move off the dollar.  For many years now, you had to buy dollars to be able to trade oil.  I think the Russians moved theirs to the ruble.  Smart move.

    The amount of US public debt owned by foreign countries is staggering.  I wonder if that is starting to sink in or not.


    The US monetary system is collapsing in on itself. The New temporary currency for Oil Trade is the Euro, but that is not going to stay for long.

    The people will have to go back to trading goods, in Gold or precious metals, or petrol.


    There is no question that US Economy is collapsing. You can feel it in the Asian markets.

    That is why Asian , and especially Chinese currency is going to be dominant.


  • User profile image
    cheong

    As there's a fixed exchange rate between HKD and USD, it means this could be a good time for me to travel. Cool

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  • User profile image
    Secret​Software
  • User profile image
    Dr Herbie

    SecretSoftware wrote:
    

    Why is it falling? Is it because of the Chinese and the EU?, or because US is melting into the new NAU?



    Well, the business reports over here in the UK seem to point to the 'credit crisis' with so many Americans defaulting on mortgages and having a knock-on effect on the banks willingness to lend to each other.
     It's having an impact on the UK by contributing to increased inflation.  We've already seen the first 'run' on a bank in 100 years (Northern Rock), which was due to the intra-bank lending drying up.

    The next two or three years could see the start of a UK recession -- we've been pretty lucky over the last 15 years but it looks like our luck is running out.  I think too many people (UK and USA) have seen credit and a bottomless well of money and now it's going to be a shock when it starts to run dry.

    Thankfully, I've only got a mortgage and no other credit -- and the equity in our home is over 30%. I don't think much will change for me.

    Herbie

  • User profile image
    Dr Herbie

    Siyavash wrote:
    
    Dr Herbie wrote:
    Thankfully, I've only got a mortgage and no other credit -- and the equity in our home is over 30%. I don't think much will change for me.


    unless you go out of job due to recession... happened to me around 2001 when the bubble burst... wasn't fun... wasn't fun at all.



    I think I'd survive -- I can get pretty much any office job to get the mortgage paid.  Not that it's likely I'll be made redundant -- the small company I work for has never made anyone redundant in 25 years.

    If it comes to it, I'd even stoop to being a consultant Wink

    Herbie

  • User profile image
    cheong

    I live in Hong Kong. Since HKD has fixed exchange rate to USD, I think my thought also applies in other countries.

    This is a related thought, I've established RMB account years ago. Each time RMB exchange rate raises, I treat it as bank interest. Wink

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    Secret​Software

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