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US$$ or Euro??


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thinking of converting all my cash in to ramen noodles .. they have real staying power

 

 

if you'll do that I suggest Rai-Rai Ramen House. :)

 

it's my favorite japanese ramen house.

 

They have reasonable price and have the best taste of japanese food,...

 

very popular to filipinos in Metro Manila.

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The euro is far from "king" at this juncture: http://online.wsj.com/article/BT-CO-20090901-713668.html

 

Well to be more accurate, the Euro will be King, but not yet, and only in my humble opinion.

 

The way China is going, oil will be quoted in Renminbi(I think thats correct-Chinese currency?)

 

However, from November 2008 to date, the markets and currency exchanges are so wildly unpredictable, that almost all economists have egg on their face in one way or another.

 

Its impossible to guess what will happen next.

 

My ex-boss made 500,000 euro, on a gamble, that Irish bank shares cant get any lower!

 

He could have just as easily lost his 50,000 euro investment, as his broker said he was crazy to buy Irish bank shares.

 

So pick a hat, any hat, you have as much chance of winning as losing!

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  • 1 month later...
Effervescent

Definitely not the US $. It will continue its fall. The British Sterling will fall also. Stay out of those two currencies and you have as good a chance as anyone. Perhaps consider reducing your cash holdings as an option.

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Euro is King now!

 

The Saudis are considering quoting oil in Euro, instead of dollars, which is to be decided by 2012.

 

If that happens, say good by to the Dollar, it'll just be another currency.

 

Ah... so this is the 'world ending' event the Mayans have predicted...

:lol:

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No one mentioned gold. The economy is not going to recover. The stock markets and the dollar will crash. Gold and silver could double or triple by the end of next year.

 

Deepening Financial Crisis

The International Forecaster - 2009-10-14

"...As a result gold should hit $2,500 to $3,000 by the end of next year. Silver should revisit $50.00 as well. This is the modern version of Chinese water torture. This is what fraud and monetization brings from creditors who see no light at the end of the tunnel. Many pundits believe this process will quickly manifest itself in a dollar collapse. We do not call 71.18 on the USDX a collapse. It is just a revisit to a long time support zone as 80 once was. It will take eight months to three years before the bottom totally falls out of the dollar. There is no question of a collapse. It definitely will come..."

 

"...There has been considerable central bank gold buying, especially by China, which is and has been backstopping the price. The physical market now belongs to them. This heavyweight buying should take gold to $1,250 and then to $1,650 in short order. Remember, we need $2,500 approximately to reflect official inflation since 1980 and unofficial inflation would put gold at $6,700. Those who believe being in another currency will be a safe haven are mistaken. All currencies will fall versus gold in varying degrees. Why put money in losers when gold and silver are the only safe games available? This will be the greatest bull market in history. The dollar will fall to somewhere between 40 and 55 on the USDX. When that occurs the final meeting will be held, meetings similar to the Smithsonian in the early 1970s and the Plaza Accords of 1985. All currencies will be revalued and devalued versus one another and debt between countries will be defaulted on by 2/3

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GoneAsiatic

So if stocks and all world currencies will decline relative to the predicted rise of gold, then what should I do with my Canadian gold stock? Well, I could liquidate that stock, buy gold bullion, and then bury it when no one is watching. The trouble is that being surrounded by 1.3 billion Chinese, someone is always watching. They are everywhere!

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So whoever went out of the EUR and in to the USD on 30th August as the OP suggested has lost something like 3.5% until now

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and if the gold price continues to rise so will the aussie $

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GoneAsiatic

So whoever went out of the EUR and in to the USD on 30th August as the OP suggested has lost something like 3.5% until now

 

As of this moment, the Powershares U.S. Dollar Bullish ETF fund (NYSE:UUP)is up 0.40%.

 

Just like a bouncing ball.

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Effervescent

and if the gold price continues to rise so will the aussie $

 

The Australians aren't worried though. Australia has already raised interest rates and is far ahead of North America and the EU in terms of a recovery. The rest of us still have banks that don't pay us any interest on our money.

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I've got all my money in mattresses.

 

You're probably kidding. :wt-hell:

 

If not, being 100% invested in paper currency is a losing game at this point. The only way to stay ahead of devaluation (inflation) is to invest in something or hold physical gold to stay even.

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  • 4 weeks later...
sandwindstars

I like the Canadian loonie because that country is rich in natural resources. Although things may be a little depressed now because the U.S. is their biggest trading partner, sooner or later the U.S. consumer will begin spending again. Old habits are hard to change.

 

Although the economic situation in Europe is somewhat grim, the sheer force of so many countries adopting the euro should cause it to eventually rise. Still, I like the Canadian dollar best. Canada has not yet anyway begun quantitative easing.

 

Canada's economy is 80%+ tied to the US. In less than 1 year we've gone +10% over the US, then down to 20% less than the US, now hovering between 5-10% less than US. We just don't know where it's headed really.

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smokey

Dirt ... land ,,,,, everyone needs land to live on and to grow on and to dig on... land

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