How low will the Euro, Pound Sterling, Baht and BitCoin go?

[In Full Agreement]

 

Even with rising interest rates in the USA I never thought I'd see such low rates.

 

Even gold is tanking.

 

What are your thoughts on the matter?

[CharlieH]

MOVED to Banking/finance

[nigelforbes]

I can only answer one of those, Bitcoin will go to zero at some point, I can't speak to the others.

[bkk6060]

Currencies will continue to fall with raised interest rates.

So much for the: gold is a hedge against inflation theme.  People have become uninterested in it down 20% now.  Turning out to be just a box of rocks?

 

[anchadian]

Just one moment please, I'll try and contact Mystic Meg.

[Berkshire]

32 minutes ago, bkk6060 said:

Currencies will continue to fall with raised interest rates.

So much for the: gold is a hedge against inflation theme.  People have become uninterested in it down 20% now.  Turning out to be just a box of rocks?

 

Not all currencies are falling.  The USD is doing rather well against nearly all other currencies. 

[Woof999]

36 minutes ago, anchadian said:

Just one moment please, I'll try and contact Mystic Meg.

I always found Septic Peg to be more accurate: Septic Peg

[bolt]

they will ALL eventually reach the lowest point

 

some will reach it before others

 

Other news

the rain will stop raining, when it stops raining 

[spidermike007]

The baht really had no fundamental reason to stay so high. And now that it has been revealed that the central bank was propping it up, it is likely they are simply unwilling to continue to throw billions at the currency. I would like to see it drop to 45/usd. 

 

Gold and silver will likely bounce back. Too much worldwide demand. I like silver over gold. I think it has the potential to skyrocket when the dollar and the US economy starts collapsing. Which will likely happen in the near term. When that happens, all bets are off. 

[nigelforbes]

1 minute ago, spidermike007 said:

The baht really had no fundamental reason to stay so high. And now that it has been revealed that the central bank was propping it up, it is likely they are simply unwilling to continue to throw billions at the currency. I would like to see it drop to 45/usd. 

 

Gold and silver will likely bounce back. Too much worldwide demand. I like silver over gold. I think it has the potential to skyrocket when the dollar and the US economy starts collapsing. Which will likely happen in the near term. When that happens, all bets are off. 

When you say that it's been revealed that central bank was propping up the Baht, I guess you're referring to the 19 bill that disappeared? In fact that was a revaluation of assets from 30 baht per Dollar to 36 baht, a difference of about 19 billion bucks over 18 months. The story was nothing more than an attempt at political mischief and nothing to do with THB support.

 

But if the Central Bank did do any propping up of THB, which I'm sure they did in limited amounts, that's well within their remit and powers under the IMF managed floating peg system.

[Stocky]

2 hours ago, spidermike007 said:

I like silver over gold.

Why?

It's not especially rare, I've worked on many gold projects with considerable silver resources, most of them stay in the ground unless the gold grades are economic. If the silver price were to rise significantly, plenty of new production would soon see its value fall again.

[Walker88]

Probably had a good enough run for now. Let it breathe a bit....dead cat bounce, etc., before the next leg.

 

There seems to be a tendency in the market to want to believe all the tumbles have finished, so many anxiously buy the dip. Buying the dip has been ingrained, because it has worked for the lifetime of most market players.

 

If 'this time is different', we'll know in a week or so.

[HauptmannUK]

8 hours ago, spidermike007 said:

 

 

Gold and silver will likely bounce back. Too much worldwide demand. I like silver over gold. I think it has the potential to skyrocket when the dollar and the US economy starts collapsing. Which will likely happen in the near term. When that happens, all bets are off. 

I'm sceptical about the 'skyrocket' bit. I've held small amounts of gold and silver since 2006. The values oscillate up and down but overall not done me a lot of favours to be honest. The basic problem with stuff that can be dug out of the ground is that when the price goes up it motivates people to dig harder, supply rises and the price falls back..

[In Full Agreement]

10 hours ago, HauptmannUK said:

I'm sceptical about the 'skyrocket' bit. I've held small amounts of gold and silver since 2006. The values oscillate up and down but overall not done me a lot of favours to be honest. The basic problem with stuff that can be dug out of the ground is that when the price goes up it motivates people to dig harder, supply rises and the price falls back..

 

Your post is accurate AFAIK.       What you didn't mention is how when selling gold assets there's he matter of having it assayed which cost money.      Also many choose to have the seller keep possession of the asset until the time of selling which costs money and helps to avoid the assay cost.    Coins  can help mitigate these matters.

 

And what about appreciation from interest that precious metals don't offer? 

[In Full Agreement]

11 hours ago, Walker88 said:

Probably had a good enough run for now. Let it breathe a bit....dead cat bounce, etc., before the next leg.

 

There seems to be a tendency in the market to want to believe all the tumbles have finished, so many anxiously buy the dip. Buying the dip has been ingrained, because it has worked for the lifetime of most market players.

 

If 'this time is different', we'll know in a week or so.

 

 

What I'm reading is we are just at the cusp of the current meltdown with the full Monty remaining on the sideline for the moment.

 

A week or so ago I read an article in a New Zealand paper which made an argument for  this being the beginning of a 2008  crash with the housing market facing a bubble situation.

 

Let's hope the future  on the economic front  improves.     I'm not seeing that at  this time.