What do you think about the USD is it going to sink?

[gemsergio]

Too many expert are saying that the USD will go lower and lower what do you guys think?

 

[JoeyMob]

I agree. Bush won't do anything to help either. He is the worst president ever.

 

[insomnia]

Better switch all my USD to CDN!

 

[alldig]

I agree. Bush won't do anything to help either. He is the worst president ever.

:huh: Isn't it the Fed's job to control the money supply and influence exchange rates? How did Bush get pulled into this...

 

[JoeyMob]

LOL! I just dispise the guy.----> Doesn't wanna get sent to iraq <------

 

[labrocca]

I agree. Bush won't do anything to help either. He is the worst president ever.

Are you old enough to remember Jimmy Carter? Interest was at 20% and Gas was about $6-$7 in today's dollar. The economy is excellent. The dollar may feels some bumps but so what...it's a very strong and resilient little buck.

Check this image for the interest and carter was Pres till the end of 1971...notice as soon as he is out of office it drops. Imagine payin 20% interest for your home mortgage.
http://mortgage-x.com/images/graph/tx408.gif

In 1982 they were paying $4.70 a gallon in today's dollars.

http://www.perryx2.com/oilprice_chart.html

Yeah..we might eventually get there but we haven't yet and you can't say Bush is worst president ever in an economics thread. Agree or disagree with his policies but the economy under Bush has pushed along VERY well and any decent economist will agree.

 

[JoeyMob]

I still don't like bush. Someone in my family was killed becasue of him. I am sorry to say I can not change my feelings about him.

But lets keep to topic. USD is going down. This is a very sad thing.

 

[Ian]

the federal reserve might do something about a slumping USD..but whatever options they have on their cards...they are certainly limited...owing to surging oil prices and political instability in the middle east...it is expected that gas guzzlers like the US will find it rough...ridiculous how US foreign policy has become increasingly depended on the ME and oil....

 

[simon]

:huh: Isn't it the Fed's job to control the money supply and influence exchange rates? How did Bush get pulled into this...

yea to certain extent it can do but largely the money supply and demand depends upon various factors. I think the government intervention in the determination of exchange rate is not favourable at least in the long run. So its better to let the exchange rate to float and determine itself according to the real demand and supply of money and not by articial means

just my 0.02 $

 

[Bart]

Trade deficit in the US is terrible, it amazes me the USD was able to remain that steady for so long.
Foreign countries are looking for a stable "reserve currency" and they are massively changing from USD to EUR, you can't blame them when US Finance Secretary says "we are not interested in a strong dollar".

How hedging against all this ? Buying dollar-puts might help, buying some gold (although it had a massive runup last months, it's still the best "wealth preserver"), buying some EUR-assets,...

 

[POLiSH]

USD .. got a problem with it, don't use it .. otherwise shut your mouth =)

 

[prose]

Don't cash in on Canada. We plan to lower our dollar value to accomodate for our manufacturing industry (exports).

 

[StuntPope]

I recommend anyone seriously interested in learning more about why any paper currency is ultimately doomed, read Ferdinand Lips "Gold Wars" and Vincent Locascio's "Monetary Elite Vs. Gold's Honest Discipline".

Those who are particularly interested in the USD death-watch should subscribe to The Privateer (the-privateer.com)

There is nothing political or personal or patriotic about it: the USD has lost 95% of it's purchasing power since the creation of the Federal Reserve.

When Nixon severed the gold/USD link in 1973 it was "the beginning of the end" of the USD as a reserve currency.

Now that the Bush admin has run up more debt than all previous administrations combined, and the money supply has ballooned accordingly, the Fed stopped reporting M-3 aggregate money supply data in March.

Now we're in the beginning of the end-game for the USD, and it ain't going to pretty.

This isn't something I am happy about, since my main business does about 60% of its revenue in USD. I've been bracing for this for awhile.

It'll suck.

The only thing that remains to be seen is if the death of the USD can be managed in something close to an orderly fashion (but it's more complicated than your average currency collapse owing to its whithering status as a reserve currency) or if it's going to be a "blood in the streets" type of systemic crash a la "civilization collapse", depression dwarfing the 30's, dark ages, etc.

In the meantime I'm busy buying a new house, I have a 10 week old baby daughter now and life goes on.

 

[POLiSH]

I recommend anyone seriously interested in learning more about why any paper currency is ultimately doomed, read Ferdinand Lips "Gold Wars" and Vincent Locascio's "Monetary Elite Vs. Gold's Honest Discipline".

Those who are particularly interested in the USD death-watch should subscribe to The Privateer (the-privateer.com)

There is nothing political or personal or patriotic about it: the USD has lost 95% of it's purchasing power since the creation of the Federal Reserve.

When Nixon severed the gold/USD link in 1973 it was "the beginning of the end" of the USD as a reserve currency. THE USD runs the world, just except it..

Now that the Bush admin has run up more debt than all previous administrations combined, and the money supply has ballooned accordingly, the Fed stopped reporting M-3 aggregate money supply data in March.

Now we're in the beginning of the end-game for the USD, and it ain't going to pretty.

This isn't something I am happy about, since my main business does about 60% of its revenue in USD. I've been bracing for this for awhile.

It'll suck.

The only thing that remains to be seen is if the death of the USD can be managed in something close to an orderly fashion (but it's more complicated than your average currency collapse owing to its whithering status as a reserve currency) or if it's going to be a "blood in the streets" type of systemic crash a la "civilization collapse", depression dwarfing the 30's, dark ages, etc.

In the meantime I'm busy buying a new house, I have a 10 week old baby daughter now and life goes on.

You sound like a communist, if the USD does not mean anything to you, why would you post so much bs information on it.. ? The USD runs the world.. just except it..

 

[gemsergio]

the thing that worries me is that countries are starting to sell petrol in Euros till than I was not really afraid since basically that was the reason why the dollar always had its influence.
Problem is that countries like venezuela iran are starting to sell in Euros making the USD less valuable.
Well Saddam Hussein tried to sell gas in Euros and look what happens next is Iran lets see also about Venezuela...

 

[StuntPope]

There is a whole conspiracy theory industry out there that posits that the iraq war was all about their switch to the euro.

Of course, Iran has that new oil bourse opening any day now priced in euros.

So people may think Iran, Venezuala, euros = trouble/invasion/etc

But Norway is also making the switch, what excuse will there be to invade them?

Polish: these are just facts of life, deal with it and stop posting moronic drivel.

 

[Sarcle]

otherwise shut your mouth

You sound like a communist

Discussion of important topics and how one feels about issues is not communism. Trying to squelch such conversations and stop discussions about such serious topics falls into fascism though.

 

[EUROPEAN]

The Chinese have the largest USD reserves in the world 768 Billion , they've said recently they want to diversify this into other currency's (Not have all there Noodles in One Wok So to speak!) when this starts the dollar will slide more, buy Gold Lads and bury it down the back garden! There's hard times coming!

 

[NameAlot.com]

You sound like a communist, if the USD does not mean anything to you, why would you post so much bs information on it.. ? The USD runs the world.. just except it..

Why is it that whenever someone has an alternative idea he is immediately labled a communist.

The simple fact of the matter is that the Feds have overused their powers in recent years. They adjusted interest rate much more frequently in recent time. That has gotten peop;le and corps used to short term fixes and created this artificial situation for the dollar. The short term fixes is whats been causing the long term inflation of the dollar. Its just a nasty situation.

 

[WhoDatDog]

People with the most money in the United States will always live well. The US economy is a machine and all you need to do is make sure you have more dollars than the guy next to you and you will be fine. Statistics can be used for whatever purpose you want. Cash is always king....accept during the Internet Stock Bubble.....cash was frowned upon. Lots of United States currency can pretty much make most problems go away. There is a reason they cross the borders to come in...and not leave.