The euro keeps falling against the dollar!!!!!

Discussion in 'Economy' started by Neubarth, Dec 20, 2010.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    THE EURO KEEPS FALLING AGAINST THE DOLLAR.

    In July of 2008, the Euro was trading for $1.58 American Dollars.

    As of this morning it was trading for $1.31 American Dollars.

    That is a hell of a fall.

    Since mid 2008 (two and a half years) it would have been prudent to have kept money in American denominated accounts. People who sold dollars to buy Euros two and a half years ago as many were doing have taken a hell of a beating if they held their position.

    What this tells us is that the American currency is strong regardless of debt. Ditto Japan which is in far more debt when measured against their GDP.

    The moral to the story? "Spend like a drunken sailor and your money will increase in value."

    Reality is sometimes hard to understand.
     
  2. zzzz
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    zzzz Just a regular American

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    But the bottom line is that European goods are now cheaper thereby increasing the trade imbalance and costing more Amercian jobs!
     
  3. Neubarth
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    Neubarth At the Ballpark July 30th

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    As I have posted for years on this forum against the prophets of doom that tell me I am wrong, the value of the Dollar is based upon the productivity of the United States. That is measured in Manufacturing output, Natural Resource output and Agricultural output.

    Since we lead the world in these three, the Dollar will remain strong regardless of what the fools say.
     
  4. Baruch Menachem
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    Baruch Menachem '

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    There was a time when the Euro was 78 cents.

    Things change over time.

    The Euro is still way ahead of where it was, and they are doing less stupid than they were.
     
  5. 52ndStreet
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    52ndStreet VIP Member

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    The worlds business is done in United States Dollars, not Euros. People all over the world still prefer the U.S. dollar over the Euro.
    Many people want Dollars , not Euros.!Go to any foreign country outside of Europe, they will tell you no Euros accepted, only U.S. dollars$$.
     
  6. uscitizen
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    uscitizen Senior Member

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    Umm when I went to China several years ago i had to convert dollars to Yuan. the merchants did not accept dollars.
     
  7. zzzz
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    zzzz Just a regular American

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    If things continue on the path they are on now the Yuan might be the currency of the future. It is expected with the current growth rates that around 2030 China will surpass the US as the worlds biggest economy. Whether this happens or not depends upon many factors of which we cannot project but is possible.
     
  8. xotoxi
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    xotoxi Platinum Member

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    It's slut stoning time!!!
     
  9. Mini 14
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    Mini 14 Senior Member

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    Care to compare to silver to ANY currency you can dream of?

    What does that say?
     
  10. Neubarth
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    Neubarth At the Ballpark July 30th

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    Only for a very short period of time. While that is happening, the US government is encouraging the FED to sell any Dollar Denominated Bonds and notes. The FED can always buy them back later at a lower price. Praise God for the FED. It is the Greatest thing that Godever created!
     

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