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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on December 17, 2008, 08:32:04 AM
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Dollar Falls Most Against Euro Since 1999 Debut After Fed Cut
Dec. 15 (Bloomberg) -- The biggest foreign-exchange strategists and investors say the best may be over for the dollar after a four-month, 24 percent rally.
The currency weakened 5.9 percent measured by the trade- weighted Dollar Index after strengthening between July and November as investors bought the greenback to flee riskier assets and repay dollar-denominated loans from lenders reining in credit. Ever since peaking on Nov. 21, the dollar fell against all 16 of the most-widely traded currencies, according to data compiled by Bloomberg.
U.S. policy makers are flooding the world with an extra $8.5 trillion through 23 different plans designed to bail out the financial system and pump up the economy. The decline shows that the increased supply of money may be overwhelming investors just as the government steps up debt sales, the trade and budget deficits grow and de-leveraging by investors slows.
“The dollar will go to new lows as the U.S. attacks its currency,” said John Taylor, chairman of New York-based FX Concepts Inc., which manages about $14.5 billion of currencies.
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Ultimately, we need one currency for USA, Europe, Russia and Asia.
Right now the Euro is doing well, but the way the currencies changes creates trade imbalances.
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Ultimately, we need one currency for USA, Europe, Russia and Asia.
Good grief.
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Do European countries still ise francs, deutchmarks and zlotys and such at all, or only Euros?
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Good grief.
What can I say.
I am pro free trade.
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Do European countries still ise francs, deutchmarks and zlotys and such at all, or only Euros?
I'll try to break it down:
Europe is a part of the world.
Most countries in Europe are part of the Europe Union, eg France, UK and Germany. In total 28 countries.
Some are not, eg Russia, Norway and Schweiz.
Some countries are negotiating for membership right now, eg Turkey and Ukraine.
In the European Union 15 countries are part of a monetary union - the European Monetary Union, EMU.
These countries only use the euro - and not their old currency.
Hope this was a fairly good breakdown.
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Years ago, Japan was in this situation. They cut their interest rates to effectively zero and nothing came of it. That looks like it's happening here.
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Ultimately, we need one currency for USA, Europe, Russia and Asia.
...and it needs to be honest money: redeemable in either gold or silver, just as the American Constitution demands.
The Luke
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So what happened to all the old currency? Did the respective governments buy it all back from the citizenry and issue equal value in Euros
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So what happened to all the old currency? Did the respective governments buy it all back from the citizenry and issue equal value in Euros
...yes. Learn to Google, or perhaps turn off the FOX News and notice what's going on in the rest of the world.
The Luke
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...yes. Learn to Google, or perhaps turn off the FOX News and notice what's going on in the rest of the world.
The Luke
Fuck you.
Sorry, I realize honest questions are verbotten around here. Just thought I would ask... Don't know what I was thinking.
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Fuck you.
Sorry, I realize honest questions are verbotten around here. Just thought I would ask... Don't know what I was thinking.
...you Palin-voters slow down the discussion, nothing personal.
The Luke
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So what happened to all the old currency? Did the respective governments buy it all back from the citizenry and issue equal value in Euros
Yes.
For a few years the euro existed as a shadow currency before being introduced, and the respective countries locked their currencies to it.
After the change to a new currency, people were still able to trade in for euros for a few years, but the currency used in the market afte the change was euro.
BTW, it's "euro", not Euro.
The US dollar has been the world currency for a long while, ie it's been the currency with the most value and what eg oil is paid with.
But lately a few countries have actually turned to the euro.
It's a bit worrying IMO.
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...you Palin-voters slow down the discussion, nothing personal.
The Luke
Oh ok....
I see...
Carry on then... :)
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Ultimately, we need one currency for USA, Europe, Russia and Asia.
Right now the Euro is doing well, but the way the currencies changes creates trade imbalances.
DIDNTYOULEARNANYTHINGFROMTHELEFTBEHINDMOVIESERIS????