Flummoxed Posted November 26, 2004 Share Posted November 26, 2004 Baht very weak against GBP but USD now at 1.90 to the pound (dropped five cents in 48 hours). Last time US trade deficit was anything like it's current level, the Dollar devalued 30 percent. On this occasion, it has only dropped 15 percent so far. I think it has a lot further to fall. Changed my mind about buying Baht and will wait a week to see what happens to the Dollar. Looks like a good buy to me and getting better... comments? Link to comment Share on other sites More sharing options...
Sojourner Posted November 26, 2004 Share Posted November 26, 2004 My guess is that the Baht will follow the dollar against other Asian currencies sooner than later. The SAT has had it's worst year and Thaksin is still spending like crazy. Seems to me that the Thai deficit will catch up with them just as it has with the States. If I were to pick an Asian currency to buy it would probably be the SGD. No meaningful interest paid however from a standard savings account. My second choice would be the Kiwi dollar as you can get 5.5% return. Then again the Kiwi dollar has had quite a run-up against the greenback already. As Clint Eastwood said as he pointed "the most powerful handgun in the world" at a bad guy, "do you feel lucky?". Link to comment Share on other sites More sharing options...
muenwai2 Posted November 26, 2004 Share Posted November 26, 2004 Weak dollar is bad news for Asian Countries, makes exports to US and other countries which insist on dollars expensive. My guess is US waiting on asian central banks, particularly Japan, to start buying up dollars to shore up the price. Safest Option: buy Matebeleland gumbo beans. Link to comment Share on other sites More sharing options...
Cabana Posted November 26, 2004 Share Posted November 26, 2004 Best two 'safe' currencies right now have to be the pound and the kiwi dollar both offer in region 4.5 to 6.5%. Clearly the US dollar is a dog. Link to comment Share on other sites More sharing options...
dfwbkk Posted November 26, 2004 Share Posted November 26, 2004 If only I had less of my assets i USD... It will slip further... /// dfw Link to comment Share on other sites More sharing options...
Flummoxed Posted November 26, 2004 Author Share Posted November 26, 2004 If only I had less of my assets i USD... It will slip further... /// dfw <{POST_SNAPBACK}> If only I had more assets Link to comment Share on other sites More sharing options...
Rinrada Posted November 26, 2004 Share Posted November 26, 2004 [ My guess is US waiting on asian central banks, particularly Japan, to start buying up dollars to shore up the price. Safest Option: buy Matebeleland gumbo beans. Latest news that I heard was that the Bank of Japan is offloading $Dollars not buying. The baht however is still holding at 39.5/75 ($-£) but cant see that for much longer. Recon the $US has got further to fall especially with the FEDs recent declaration on large fiscal borrowing overspend.(good for economy and stay at homers) Might even be going back to those heady days of 96 bt = £1....or even more. Still got some Iraqi Dints from old days in the dust with u know whos face on them...just waiting for a recovery Link to comment Share on other sites More sharing options...
noBuzz Posted November 26, 2004 Share Posted November 26, 2004 Have I understood this correcly? Better to wait until the mighty buck gets strong again (before the next fall) and then go back into dollars, than to do it now when the buck's weak? Wow.. are these teachings from the now ancient "new economy". Best regards, NoBuzz Link to comment Share on other sites More sharing options...
Flummoxed Posted November 27, 2004 Author Share Posted November 27, 2004 Have I understood this correcly? Better to wait until the mighty buck gets strong again (before the next fall) and then go back into dollars, than to do it now when the buck's weak? Wow.. are these teachings from the now ancient "new economy". Best regards, NoBuzz <{POST_SNAPBACK}> I don't think you understood it correctly. Link to comment Share on other sites More sharing options...
noBuzz Posted November 27, 2004 Share Posted November 27, 2004 Have I understood this correcly? Better to wait until the mighty buck gets strong again (before the next fall) and then go back into dollars, than to do it now when the buck's weak? Wow.. are these teachings from the now ancient "new economy". Best regards, NoBuzz <{POST_SNAPBACK}> I don't think you understood it correctly. <{POST_SNAPBACK}> ooh... Dear Flummoxed. I see how you see I didn't understand it correctly. Now I'll be on my way looking for a nice bridge to jump off of. Hopefully you won't see me again. Unless the beer on the way to the bridge makes me change my mind. Again Regards, NoBuzz Link to comment Share on other sites More sharing options...
Flummoxed Posted November 27, 2004 Author Share Posted November 27, 2004 Strange fellow Link to comment Share on other sites More sharing options...
noBuzz Posted November 27, 2004 Share Posted November 27, 2004 Strange fellow <{POST_SNAPBACK}> Now thats irony right there All the best, NoBuzz Link to comment Share on other sites More sharing options...
PAPA DUCK Posted November 27, 2004 Share Posted November 27, 2004 Since I draw a Cost of Living Allowance for the country I live in...the lower the dollar drops the better Link to comment Share on other sites More sharing options...
Flummoxed Posted December 2, 2004 Author Share Posted December 2, 2004 Live mid-market rates as of 2004.12.02 05:10:58 GMT. 1.00 GBP United Kingdom Pounds = 1.93353 USD United States Dollars Blimey! another 4 cents drop against the Pound. Could it go to 2 Dollars? Other currencies I've got my eye on are HKD and PHP. (and the Baht, of course) Link to comment Share on other sites More sharing options...
Rinrada Posted December 2, 2004 Share Posted December 2, 2004 Gordons on the stump this afternoon with plans to spend £-mak on child care and paternity leave. Also just heard that the the old water rates/electricity bills are gonna hike way above inflation with B.o.E.interest rates (specu of course)at 5.5% next year. Ken (mayor) wants lots more dosh for the wee tube/train network and the congestion charges will be going up...where else.. to £8 a hit.(drive into the city center) At $2 =£1 ....wait for it.... that would be @ Bt 700 just to visit MBK Can buy a lotta chang for 700 baht...... Link to comment Share on other sites More sharing options...
loong Posted December 2, 2004 Share Posted December 2, 2004 With the high cost of oil (in US$) it makes me wonder if the rest of the world would be too keen to shore up the $ value. The $ has a fair way to go downwards in my opinion as Euro becomes more important as a world currency. As far as I understand the $ is a manufactured currency that has not been backed by sufficient gold reserves for a number of years now. If thety need more cash, they just print it. I don't pretend to be an expert, but this has got to lead to a major devaluation of the $ in the coming years. Link to comment Share on other sites More sharing options...
Flummoxed Posted December 3, 2004 Author Share Posted December 3, 2004 If thety need more cash, they just print it. I don't pretend to be an expert, but this has got to lead to a major devaluation of the $ in the coming years. If memory serves, that was one of the factors that fvcked the British Labour government of the seventies.... the winter of discontent. Link to comment Share on other sites More sharing options...
TRIPxCORE Posted December 3, 2004 Share Posted December 3, 2004 The USD has a lot further to fall. G.W. Bush & his minions are advocating a weak dollar policy even though they never admit to it. The ignorant US consumer continues to borrow & spend, living way beyond their means. Economic data in the US has been far from stellar and people are still losing jobs. Many so-called experts are forming this same opinion and I take them all with a grain of salt but when Warren Buffet says he is investing in foreign currencies, it's time to pay attention. I think he fell asleep at the wheel a little in it though because I was getting out of USD and into others about 1 year before him. Read more about it here: USD falling? I made good money from late 2002-early 2003 in New Zealand Kiwi. Took profit on that and went straight into Euro and been there ever since. As soon as foreign central banks decide to stop propping up the USD and switch some of their reserves over to EUR, which is pretty much the only other option, USD will fall hard. It has been the Asian governments that have prevented the USD from a free fall. They don't want to let their currencies get too strong as to have an adverse effect on their own economies. As one other reader pointed out, the USD is actually worth nothing and is supported by false pretenses. Rather than explain, read about it here: Worth anything? Link to comment Share on other sites More sharing options...
kreon Posted December 7, 2004 Share Posted December 7, 2004 The USD has a lot further to fall. G.W. Bush & his minions are advocating a weak dollar policy even though they never admit to it. The ignorant US consumer continues to borrow & spend, living way beyond their means. Economic data in the US has been far from stellar and people are still losing jobs. Many so-called experts are forming this same opinion and I take them all with a grain of salt but when Warren Buffet says he is investing in foreign currencies, it's time to pay attention. I think he fell asleep at the wheel a little in it though because I was getting out of USD and into others about 1 year before him. Read more about it here: USD falling?I made good money from late 2002-early 2003 in New Zealand Kiwi. Took profit on that and went straight into Euro and been there ever since. As soon as foreign central banks decide to stop propping up the USD and switch some of their reserves over to EUR, which is pretty much the only other option, USD will fall hard. It has been the Asian governments that have prevented the USD from a free fall. They don't want to let their currencies get too strong as to have an adverse effect on their own economies. As one other reader pointed out, the USD is actually worth nothing and is supported by false pretenses. Rather than explain, read about it here: Worth anything? <{POST_SNAPBACK}> keep a basket of currencies such as euro, swiss francs, kiwi dollars(pound to expensive now) and of course don't forget a few baht of gold here and there! i still have 20 baht i bought at Bt 6200 a few years ago Link to comment Share on other sites More sharing options...
Dickie Posted December 7, 2004 Share Posted December 7, 2004 Weak dollar may be genius for the US. Remember Germany's crushing debts after WW1? They were denominated in Marks so Germany let inflation rip and, when the Mark was worth almost nothing, paid back the debt. Easy! US debt is denominated in $. Hmmm... Link to comment Share on other sites More sharing options...
Flummoxed Posted December 8, 2004 Author Share Posted December 8, 2004 Everone knows that soon, the USD will no longer be the Worlds reserve currency. After doing my sums, I think the Dollar will sink to at least $2.50 to the pound by the second or third quarter next year. No matter, I have decided I will not invest in the dollar, no matter how low it goes. It's a toilet currency now. Link to comment Share on other sites More sharing options...
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