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US Dollar currency is going down
I am trying to find answers on the Internet but there is so much information that I can't get to the relevant subject, not even by using google.
Is it really simple that dollar is going down?
Is there a chance to see it up?
If not, better exchange it to Euros now than wait for a miracle that might not come?
I'm trying really bad to find info, do you have any recommendations or information?
Last edited by arie1985; 05-23-08 at 02:21 PM.
As sad as it is to say you're right, exchanging dollars for euros is a very safe bet right now, price at the pump is through the roof mainly b/c dollars dropping like a lead weight
I think you're right and there's no other choice - better do it now than being sorry for having no money in the bankOriginally Posted by bettilimbroke999
http://www.youtube.com/watch?v=LjLMAQiIRyU
http://www.youtube.com/watch?v=hpNb0IO6Fc8
Horror movies - people actually telling you dollar is going down right now, no up, just down down.... and it doesnt stop
I dont even know how to exchange my dollars for euros, so sol for me I guess
Sometime this summer the fed will put the clamp on the falling dollar. The time to trade for euros has passed, and the dollar will rebound soon.
You're prolly right, I don't even know how ppl exchange currency anyway, just out of curiousity do banks do currency exchange or do American just exchange for euros when they arrive in europe
How can you be so sure about that?
It is the simple law of the markets. When everybody is buying, you should be selling and when everyone is selling you should be buying. The markets always do what they are supposed to, just not when they are supposed to.How can you be so sure about that?
Really though the fed will need to try to stop this hyper-inflationary economy that we are in now, whether they want to admit it or not. The oil is going through the roof because India and China are in need of more oil and the dollar keeps falling. This will put a major drag on the economy and make a recession worse than it already is. The first thing that needs to be done is to stop the falling of the dollar so the market can start to improve. The dollar was originally dropped to help with the import/export deficit that we are running.
I wish they'd hurry up, filling my tank up for 60 bucks is getting old
This has more value than a 2008 USA dollar
i'm gonna trade my us dollars for colombian pesos. i'll be a trillionaire.
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That's pretty cool, I've never seen a confederate dollar be4This has more value than a 2008 USA dollar
So does this:
This in result is why gas is so high.
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Right, but this is the problem. My fear, and I do very much hope that this doesn't happen, but my fear is that the Fed won't be able to put the clamp on the falling dollar. The Fed is not all-powerful of course, and if the Fed does try to put the clamp on it and can't the dollar could take a quick and unprecedented huge hit, akin to the bank run of the 20s.
The Fed is like a driver of a bike, it can turn and maneuver appropriately when things are normal, but if the bike gets hit by a car the driver can't do much.
I do think Bernanke will be very good at avoiding disaster, but I also think he knows the Fed is limited in how much it can save things, but just isn't saying it, because he knows there's no point in saying something like that.
What do you think?
What are you guys bitching about? We're doing better than that other Superpower.....Zimbabwe.
Zimbabwe inflation now over 1 million percent
By ANGUS SHAW, Associated Press Writer Wed May 21, 12:01 PM ET
HARARE, Zimbabwe - Weary Zimbabweans are facing a new wave of price increases that will put many basic goods even further out of their reach: A loaf of bread now costs what 12 new cars did a decade ago.
Independent finance houses said in an assessment Tuesday that annual inflation rose this month to 1,063,572 percent based on prices of a basket of basic foodstuffs. Economic analysts say unless the rate of inflation is slowed, annual inflation will likely reach about 5 million percent by October.
As stores opened for business Wednesday, a small pack of locally produced coffee beans cost just short of 1 billion Zimbabwe dollars. A decade ago, that sum would have bought 60 new cars.
And fresh price rises were expected after the state Grain Marketing Board announced up to 25-fold increases in its prices to commercial millers for wheat and the corn meal staple.
The economy was on shop clerk Jessica Rukuni's mind as she left the public swimming pool in downtown Harare's central park with three disappointed children. She found the new admission price of 100 million Zimbabwe dollars — 30 U.S. cents — out of reach.
"The point is that it's far too much for most people who don't get U.S. dollars," she said.
Her income is the equivalent of about one U.S. dollar a day, and her family has one basic meal daily.
The collapsing economy was a major concern of voters who dealt longtime President Robert Mugabe a defeat in March 29 elections. His challenger, Morgan Tsvangirai, topped the poll but did not win the simple majority needed to avoid a runoff. The two face each other in a second round June 27.
Mugabe was to officially launch his runoff campaign with a rally at his party's headquarters in Harare on Sunday, the state-run Herald newspaper reported Wednesday.
The opposition's campaigning has been hampered by violence blamed on Mugabe's government and party. The opposition claims Tsvangirai is the target of a government assassination plot and he has been out of Zimbabwe since shortly after the March 29 first round. He plans to return to Zimbabwe to campaign for the runoff once security measures are in place, his aides have said.
Mugabe, speaking as he reviewed graduating police cadets Wednesday, said the opposition was fanning violence. Independent observers have said that while there have been some retaliatory attacks by the opposition, the vast majority of the attacks have been carried out by Mugabe supporters.
Mugabe accuses the United States, the European Union and especially former colonial ruler Britain of using their economic influence to back his opponents and bring about his ouster. He has severed ties with the International Monetary Fund, the World Bank and other financial organizations.
Zimbabwe's official annual inflation was given by the government as 165,000 percent in February, already by far the highest in the world. The government has not updated that — the state statistical service has said there were not enough goods in the shortages-stricken shops to calculate new figures.
The economic decline has been blamed on the collapse of the key agriculture sector following the often violent seizures of farmland from whites. Mugabe claimed the seizures begun in 2002 were to benefit poor blacks, but many of the farms went to his loyalists.
"The crunch is going to come when local money is eroded to the point it is no longer acceptable" in commercial activities or as earnings, especially by longtime ruler Mugabe's loyalists, said independent Harare economist John Robertson.
Already, more transactions are being done in U.S. dollars, both openly and in secret.
Manufacturing industries, running at below 30 percent of their capacity, reported growing absenteeism by workers facing soaring commuter bus fares.
If life in US will be the same as in Zimbabwe then bye bye USA.
Apart from doing something improbable like taking the USD out of free float (enacting exchange controls) the only things the Fed can do to protect the dollar are (a) increase short-term interest rates, and (b) sell its foreign exchange and gold reserves.
The USA isn't even close to hyperinflation.
You stop the falling dollar by increasing interest rates. Won't that make the recession even worse? And the dollar wasn't "dropped" - it rises/falls automatically through the markets. It's probably not a good idea to intervene - you try to manipulate the exchange rate and bang goes the chance for the Fed to use monetary policy.
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So in other words there is no future for the USD currency?
i guess not. time to move to another country.So in other words there is no future for the USD currency?
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