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Headlines Dollar Sinks to All-Time Low Vs Euro

voiceofreason

Seeker of Truth
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NEW YORK (Reuters) - The dollar plunged to an all-time low against the euro on Wednesday ahead of an upcoming G20 finance ministers' meeting in Berlin, as analysts fretted that officials would do little to stem the greenback's fall.

A German government source said on Wednesday that G20 officials do not plan to issue a statement on currencies at talks starting from Friday.

Analysts were hoping that G20 finance ministers and central bank chiefs would exert pressure on China to let its yuan currency rise against the greenback. The yuan has been pegged at around 8.28 to the dollar since the mid-1990s, which has kept Chinese exports more competitive in the global trade market.

Friday's G20 gathering of rich and emerging market nations overshadowed the hefty rise in U.S. consumer prices for October, the surge in U.S. housing starts, and a jump in industrial production, analysts said, with the dollar showing little reaction to the generally positive U.S. economic data.

"The dollar is going to be driven by policy, what (Treasury Secretary John) Snow says, and what happens in the G20 meeting, more than U.S. economic data," said Larry Brickman, currency strategist at Bank of America in New York.

Snow, who was in London on a visit, poured cold water on any hopes of a weekend G20 accord to slow the U.S. currency's decline. He said the United States could not impose currency values, but countries could not devalue their way to prosperity. --------------------------------------------------------------------------------------------------------

"an all-time low", super...

Hmmmmmm, ya think maybe it has something to do with the insane amount of debt we have accumulated over the past 4 years?
 

RageAgainst

Chaotic Neutral
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#2
yes. That will lead to an increase in interest rates, wich is not good for the middle/lower class. Go Bush.
 

TwisT

Hooked on Rocks!
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Rage against said:
yes. That will lead to an increase in interest rates, wich is not good for the middle/lower class. Go Bush.
Not necessarily. Interest rates go up home prices start to fall. That's what is happening right now in the So. cal real-estate market. Rates creep up and people get scared. I'm bankin on this so I can buy my first property. The average price of homes is down 20% from October last year, but that could mean anything right now. I'm waiting to see if this is a fluke or not! My hope is the market will crash like all hell! But that's a double edge sword now isn't it.
 

gurlgonewild

Was machen Sie?
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#4
The Blame Game

*drool* this reminds me of how much i'd like to try my hand at trading currency. yum. Its two elements of politics and economics have always made squirm in my seat.

This is nothing more than a preview of whats to come.
The US will threaten tp continue to allow the USD to decline with no help from G8 members, we will be happy to do so because this will bring on a faster correction of the Euro and Yuan. Up for the Yan, down for the Euro. And the USD will be where it is supposed to be among them in the end. Meanwhile we all are stuck in the same boat. :bomb:

I think of it as the backlash for our foreign policy. (if you infered Iraq, you may ne onto something.)
 

dustinzgirl

Banned - What an Asshat!
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TwisT said:
Not necessarily. Interest rates go up home prices start to fall. That's what is happening right now in the So. cal real-estate market. Rates creep up and people get scared. I'm bankin on this so I can buy my first property. The average price of homes is down 20% from October last year, but that could mean anything right now. I'm waiting to see if this is a fluke or not! My hope is the market will crash like all hell! But that's a double edge sword now isn't it.
Or it could be because nobody wants to live in so cali and deal with the smoking police.
 
R

RedOctober

Guest
#6
Miser!

A cartoon in a Dutch newspaper today...

A man giving a dollar to a beggar.

The text (krent!) means.. MISER! :D
 

ReiMeishin

Dreaming to live
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when are we going to shift to the global, or the credit, or the global dollar, or the golbal yen? A single world currency would be very good. It takes away all of the problems with conversion, and it would help people to understand foriegn economics.
 
R

RedOctober

Guest
#8
ReiMeishin said:
when are we going to shift to the global, or the credit, or the global dollar, or the golbal yen? A single world currency would be very good. It takes away all of the problems with conversion, and it would help people to understand foriegn economics.
Well... Much of the American efforts of the last few years were inspired by the fear that the euro might overtake the role of the dollar in global trade.
The more Bush is fighting that, the sooner it will happen.

In fact, the USA is already a third world country that can't repay it's debts.
What Bush is doing is the ultimate trick.
Get the USA bankrupt, and then start all over again..

Stock markets will fall in a bottomless pit.
Then some big investmet companies buy the entire USA for a bargain price..

Every American will get a chip with a number, and get to hear where he's supposed to work. The ultimate communist system, brought to you by the Bush Dynasty. :bomb: :rolleyes:
 

Captain 151

Seeped in a dry Merlot
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If sports has taught us anything, its that ANYTHING can be bought by a corporation. Look out for the Hewlett-Packard Red Sox vs. the General Electric Yankees in the playoffs this year...

As for the conversion of currency... I get fucked over everytime I spend a US dollar in Canada. We should go back to a barter system.

Just kidding about the barter thing. :)
 

ReiMeishin

Dreaming to live
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#10
RedOctober said:
Well... Much of the American efforts of the last few years were inspired by the fear that the euro might overtake the role of the dollar in global trade.
The more Bush is fighting that, the sooner it will happen.

In fact, the USA is already a third world country that can't repay it's debts.
What Bush is doing is the ultimate trick.
Get the USA bankrupt, and then start all over again..

Stock markets will fall in a bottomless pit.
Then some big investmet companies buy the entire USA for a bargain price..

Every American will get a chip with a number, and get to hear where he's supposed to work. The ultimate communist system, brought to you by the Bush Dynasty. :bomb: :rolleyes:
Nah, that is way too orwellian. Think of something more huxleyan where everyone will grow to love being owned by the corporation because it is more convienient.
 

gurlgonewild

Was machen Sie?
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#11
ReiMeishin said:
when are we going to shift to the global, or the credit, or the global dollar, or the golbal yen? A single world currency would be very good. It takes away all of the problems with conversion, and it would help people to understand foriegn economics.
I cannot begin to imagine a global currency nor its implications. It's reminiscent of a society full of bots or drones becoming World, Inc., and a whole bunch of shit I never want to see happen. :confused:


Originally Posted by RedOctober
Well... Much of the American efforts of the last few years were inspired by the fear that the euro might overtake the role of the dollar in global trade.
The more Bush is fighting that, the sooner it will happen.


The US is a long time ardent supporter in encouraging the formation of the EU. In fact, I think it was our idea to begin with.

Something about how stronger competition will be good for us-even the playing field and bring us closer in having to deal with both the good and bad sides of a powerful currency, easing the burden of going at it alone. ETC something like that.

Makes sense, out of the G8, the EU were the last to join the US/UK in their plight. Plus it will strengthen G8 political influence tenfold worldwide (as if we didn't possess enough already??????) and link our welfare to theirs and vice versa. Pretty shmart ;)
 

outsideR

Clitpickle
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gurlgonewild said:
The US is a long time ardent supporter in encouraging the formation of the EU. In fact, I think it was our idea to begin with.
Might be a bit off-topic, but the basic idea of ECSC founded in 1951 was to create collaboration between French and German coil and steel industries. Belgium, Italy, Luxembourg and the Netherlands joined in the community in the beginning too. In 1957 the six members of the ECSC formed the European Economic Community (EEC). The reason for that was to start the process of developing a common market for goods and services within Europe. Since that 19 new countries have joined the union known as the EU. The father of this union was Robert Schuman, the French Foreign Minister at the time, not the allmighty US of A. Check your sources or just shut up, mate!
 

gurlgonewild

Was machen Sie?
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#13
outsideR said:
Might be a bit off-topic, but the basic idea of ECSC founded in 1951 was to create collaboration between French and German coil and steel industries. Belgium, Italy, Luxembourg and the Netherlands joined in the community in the beginning too. In 1957 the six members of the ECSC formed the European Economic Community (EEC). The reason for that was to start the process of developing a common market for goods and services within Europe. Since that 19 new countries have joined the union known as the EU. The father of this union was Robert Schuman, the French Foreign Minister at the time, not the allmighty US of A. Check your sources or just shut up, mate!
My post:
In fact, I think it was our idea to begin with.

Hence the uncertainty of, "I think" as in, I was not sure. I'm not trying to take credit for the US being responsible for the creation or success of the EU (rather an insignificant point you've honed in on, mate) but that it is not a bad thing and we should not feel threatened by a unified currency within the EU.

And thank you for giving us even less significant details about the background of the EU....
Yes of course the EU has been around for a long time to advance their economic interests, but only recently have they unified under one currency.
The main idea is this move has placed them in a much more powerful position than anything they've ever done before has.

Ass munch, don't tell me to shut up. The next time you feel you have something meaningful to contribute, I'll let you know whether it qualifies. Because afterall, I am from the Almight US of A and this is what you wanted to read but didn't. But now you have, you :tool:
 

outsideR

Clitpickle
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#14
gurlgonewild said:


My post:
In fact, I think it was our idea to begin with.

Hence the uncertainty of, "I think" as in, I was not sure. I'm not trying to take credit for the US being responsible for the creation or success of the EU (rather an insignificant point you've honed in on, mate) but that it is not a bad thing and we should not feel threatened by a unified currency within the EU.

And thank you for giving us even less significant details about the background of the EU....
Yes of course the EU has been around for a long time to advance their economic interests, but only recently have they unified under one currency.
The main idea is this move has placed them in a much more powerful position than anything they've ever done before has.

Ass munch, don't tell me to shut up. The next time you feel you have something meaningful to contribute, I'll let you know whether it qualifies. Because afterall, I am from the Almight US of A and this is what you wanted to read but didn't. But now you have, you :tool:
I don't feel like starting a fight over this stupid issue... My point was, if you THINK you know something, why not do some background search before thinking aloud? I'll make sure to ask you first when I have something to say in the future! Not...

Referring to the topic, I'm not at all surprised of the dollar's little "dive". With the amount of debt USA has... Well, it's not cheap trying to destroy whole countries in the Middle East. I'm sure it's going to be better in ten years as the Yanks have control over all the oil on this planet... In Bush's dreams that is!
 

RetArt

A Rampant Vagitarian
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I would also like to remind you that this is not so bad yet... War costs, everybody must have seen this comin´. If country has a debt of 7,500,564,974,388.42$ (http://www.brillig.com/debt_clock/) the currency is bound to plunge sooner or later.
When the situation goes near something that Germany had before WW2, then you should get worried :) (people needed a wheelbarrow of money to buy a single trainticket)
Of course there was the minor cause, WW1 debts and all that... Frances role etc. that afterwards lead to war... but thats another topic...
 
R

RedOctober

Guest
#16
gurlgonewild said:
?????

8><----------

Makes sense, out of the G8, the EU were the last to join the US/UK in their plight. Plus it will strengthen G8 political influence tenfold worldwide (as if we didn't possess enough already??????) and link our welfare to theirs and vice versa. Pretty shmart ;)
Well well.... Plight?

The US/UK got themselves in a terrible mess, and only a moron like our prime minister could think of sending Dutch troops to Iraq, to get Jaap de Hoop Scheffer a job as Secretary General of Nato.

Well.. You know how politicians do away with rivals in their own party.
They are promoted to a far and safe position.
 

breakology

Kiss my Converse
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#17
why don't we just adopt the euro in the states, maybe we can switch over to metric system while we are at it :thumbsdn:
 
R

RedOctober

Guest
#18
breakology said:
why don't we just adopt the euro in the states, maybe we can switch over to metric system while we are at it :thumbsdn:
No you can't..

A country that adopts the euro may not have a budget deficit >3% of the BNP.

The USA will not be able to get along that in a hundred years!
 

MaxPower

You're my number two
Staff
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#19
RedOctober said:
No you can't..

A country that adopts the euro may not have a budget deficit >3% of the BNP.

The USA will not be able to get along that in a hundred years!

LOL, deficit? what deficit? That implies that we owe money to someone. Who the fuck is going to make us pay it back? You fuckers want your money? Come over here and take it. :)
 

breakology

Kiss my Converse
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#20
The magnitude of my sarcasm was once again lost by redoctober.