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U.S. Dollar down P46.57


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thebob

I don't see what the fuss is about.

 

The US borrowed the money for the deficit with strong dollars. So if you reduce the value of the dollar, you don't have to pay as much back!

 

Gold is at an all time high, get back to the gold standard? Oh no then the politicians couldn't fudge the numbers.

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isnt it what the peso buys that matters? Ok i remember when i bought a brand new VW in the us it cost me US 1,700 but of course i only earned US 1,75 an hour .. the exchange rate only matters on what

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JohnFromTexas

Thebob, the fuss is that you are right, reducing the value of the dollar helps us pay off the debt easier -- unfortunately, all the foreign countries who own that debt are going to dump the dollar as a reserve currency because of it. China is ready to drop us now because they see the devaluation coming. It's not good for the people who hold our debts. And if the people who hold the debts have it be devalued, they won't buy any new treasury bills from us. What's interesting is that even as bad as things are, you don't hear anybody talking about consitutional amendments for the line item veto or a balanced budget amendment. Those two things would solve a lot of the fiscal problems that are coming at us and keep proper restraints on congress and the president no matter which party is in power in either.

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Well relative to the Swiss franc and the Euro the Dollar has been going down for the last 8 years or so.

You certainly can't blame that on Obama.

The trade deficit and the debts have been built up over years and years.

If the rest of the world decides to use something else than the $ for trading oil etc. it will really go down.

 

 

Euro and especially CHF will take a dip quite soon against the USD

 

 

./

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Euro and especially CHF will take a dip quite soon against the USD

 

 

./

 

Yes of course, they are dipping all the time, but long term the dollar is the loser.

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Yes of course, they are dipping all the time, but long term the dollar is the loser.

 

 

Yeah, that's what everybody says. If everybody would be right, how come not everybody is rich?

 

 

./

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Yes of course, they are dipping all the time, but long term the dollar is the loser.

Yes they can not continue to borrow money without consequences for the USD.

 

The Outstanding Public Debt as of 09 Oct 2009 at 01:24:51 AM GMT is:

$ 1 1 , 9 3 0 , 2 2 3 , 8 2 7 , 0 4 0 . 1 3

 

The estimated population of the United States is 307,065,942

so each citizen's share of this debt is $38,852.32.

 

 

Harry

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Hey Harry,

 

Norway's economy is doing so well, I bet we could borrow some cash from your government. :D

 

Of course, it would be like in the Philippines... a gift. :)

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I noticed this this weekend too and I am going to make a shift in my 401k to an all foreign fund. I just hope the trend continues so I can make more off the dollar going down. If not I will still make out ok. The chart is a collection of ETfs having to do with currencies. Some are leveraged and some are inverse. I made the list about a year ago. The time period is 195 days on the percentage change. South Africa made a big comeback. But more interesting is Brazil, India and the European currencies. Australia has made a comeback too.

post-778-125532259833_thumb.png

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GoneAsiatic

Yes they can not continue to borrow money without consequences for the USD.

 

The Outstanding Public Debt as of 09 Oct 2009 at 01:24:51 AM GMT is:

$ 1 1 , 9 3 0 , 2 2 3 , 8 2 7 , 0 4 0 . 1 3

 

The estimated population of the United States is 307,065,942

so each citizen's share of this debt is $38,852.32.

 

Harry

 

Although the U.S. defectis are certainly unsettling, it is by far not the only country with that problem. The UK has a per capita dept that is the equivalent of $20,784. Even though that is far less than the U.S. rate, it may be harder to resolve when you consider the GDP Purchasing Power Parity (PPP) per capita of Britain is only the equivalent of $36,358 compared to America's equivalent of $47,440. This may explain why Gordon Brown announced a sell-off of some UK assets today: http://www.reuters.com/article/mergersNews/idUSLB14665420091012

 

So what should the U.S sell-off? Someone's Nobel Peace Prize perhaps? I'll start the bidding at $1.

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Something to think about when talking about the dollars future!!!!

 

The World Gas Conference in Buenos Aires last week was one of those events that shatter assumptions. Advances in technology for extracting gas from shale and methane beds have quickened dramatically, altering the global balance of energy faster than almost anybody expected.

 

Tony Hayward, BP's chief executive, said proven natural gas reserves around the world have risen to 1.2 trillion barrels of oil equivalent, enough for 60 years' supply

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JohnFromTexas

Yes, it will continue in the long term unless fiscal conservatism makes a return in Washington (ahahahahahahaha i'll believe that when it happens). Earliest possibility for this is January 2011 when (hopefully) the Republicans take one of the legislative houses. Of course the Republicans are not the bastions of fiscal conservatism they portray themselves as, but they're FAR better than the democrats when it comes to financial policy, and they'll block some of the excesses that are going on now under one party control of government (great idea american dumbass voting electorate).

 

http://www.breitbart.com/article.php?id=CNG.ee8e6856c300b312ea0f64a4522381ca.481&show_article=1

 

Of course history repeats itself... likely foreign currencies will gain until the US economy turns around... but there is no place in the world where economic downturns don't take place... and eventually China and other nations will have more downturns while the US economy returns and the dollar will make a comeback for a while. Unfortunately unless something is done about the deficit and debt, longterm growth in the US is not likely to be very good as money will be going to paying off debt by the federal reserve instead of being available for loans to banks in the form of credit to consumers and businesses. Meanwhile, wasn't the stimulus worth that $2 trillion we just spent over the last year??? :welcome: Yeah, the 2 trillion that will be spent and gone because none of it was put into the form of tax reductions which would have spurred long term growth. Once again the US acts myopically in favor of short term gain and long term loss. Then again what should we expect? The electorate is educated by an educational system controlled by a labor union who's primary goal is self preservation and advancement of it's members over actual educational outcome.

Edited by Tex
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Hey Harry,

 

Norway's economy is doing so well, I bet we could borrow some cash from your government. :angel:

 

Of course, it would be like in the Philippines... a gift. :angel:

Norway invests a lot in the U.S., it's one of our allies. For us, it is therefore important that the U.S. economy improves. Norwegians enjoy the second highest GDP per-capita and third highest GDP (PPP) per-capita in the world. We are spoiled, but we complain anyway! :welcome::-)

 

 

Although I hope that the U.S. economy is improving and that the USD will increase in value. But I do not think we will see so much improvement in 2010.

 

Harry

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My first trip to the Philippines it was 27P to the dollar.My last trip out of the Philippines it was 56P to the dollar.I talked to folks there who remember when it was 8P to the dollar.So 46.57P is still real good to me.

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