Dollar Going To ######, What Should I Do?

[LaoPo]

Also do not underestimate the "evil" in mankind... The USA is not going to go under without an atomic war. It is not the American nature to loose, at any cost.

We'll see 

<{POST_SNAPBACK}>

you are absolutely right..more right than 'we' think.

<{POST_SNAPBACK}>

That is why the EU wants Turkey, a Muslim state, into Europe and for no other reason than position.

As G.W. Bush said, this is a different kind of war, and he was not just talking of terrorism, even if he did not realize it at the time.

We had better hope that the US stays in power for the forseeable future... The alternative could be a war that cannot be imagined.....

<{POST_SNAPBACK}>

Ravisher,

as for point

1. Turkey. To be correct: the EU agreed to START negotations about/with Turkey; it will be at least some 15 years before Turkey could join the EU.

2. as for your last sentence... I assume you didn't receive the message, sent by maitai on this forum in the early hours of last friday (yesterday)...by far the most horrific and scary message I have read in my entire life. Since then it has disappeared not only on this website but also from news-websites around the world. It's so frightening that I hesitate to even talk about it here...

maybe you ask maitai to send you a pm. If you wish i can send you the message but not thru a pm via this website.

[thaistick]

Also do not underestimate the "evil" in mankind... The USA is not going to go under without an atomic war. It is not the American nature to loose, at any cost.

We'll see 

<{POST_SNAPBACK}>

you are absolutely right..more right than 'we' think.

<{POST_SNAPBACK}>

That is why the EU wants Turkey, a Muslim state, into Europe and for no other reason than position.

As G.W. Bush said, this is a different kind of war, and he was not just talking of terrorism, even if he did not realize it at the time.

We had better hope that the US stays in power for the forseeable future... The alternative could be a war that cannot be imagined.....

<{POST_SNAPBACK}>

Ravisher,

as for point

1. Turkey. To be correct: the EU agreed to START negotations about/with Turkey; it will be at least some 15 years before Turkey could join the EU.

2. as for your last sentence... I assume you didn't receive the message, sent by maitai on this forum in the early hours of last friday (yesterday)...by far the most horrific and scary message I have read in my entire life. Since then it has disappeared not only on this website but also from news-websites around the world. It's so frightening that I hesitate to even talk about it here...

maybe you ask maitai to send you a pm. If you wish i can send you the message but not thru a pm via this website.

<{POST_SNAPBACK}>

I read it before he deleted it.It is all over the internet and one just has to Google

"7 nukes american cities Al-Queda" to see what their number 3 man and top scientist said.

But there is a book out now called "Osama's Revenge: The Next 9/11: What the Media and the Government Haven't Told You," by Paul L. Williams .

It claims the same thing and is corroborated by intelligence agents and terrorism

experts and involves the Chechen Mafia and Pakistani scientists.The author claims that he expects an attack between now and the end of 2005.

Here's a Newsmax article:

http://www.newsmax.com/archives/articles/2...13/171536.shtml

Here's one source of what Al Queda's top scientist claimed:

http://www.cyber-spy.com/unetfbi-20021212-1113.html

I don't personally believe if they really had them they would use them now as they understand that their financial support who are the Arab oil producers would lose their biggest market as well as lose the billions of dollars they hold and trade in.Don't bite the hand that feeds them.Also they know the world's economies would suffer and the world would lose trillions in worthless dollars

But if I'm wrong,I plan to be thousands of miles away.

[LaoPo]

...did we ever think 9/11 could happen...?

and, Thaistick, planning...? if you'r in the wrong place at the wrong moment there will be little to plan..

let's hope it will never happen.

[frumau]

$ will be back with a vengeance. I have no doubts about it. However personally sterling is the way to go and lets face it, we wont ever be joining the Euro! 

<{POST_SNAPBACK}>

I guess the dollar will gain a little again in the future, but I assure you it will never be the same. The euro has taken a part of its strenght away and W Bush will take the rest with his spend, don't save policy. I would go for the Euro if I were you.

[kir]

Firstly......DONT PANIC!

In the short term, regional Governments won't let the dollar sink lower; however, dont expect a rebound any time soon either.

Keep you money exactly where it is......Ride out the storm!!!

DO NOT, i repeat DO NOT venture into Forex markets as a small investor, and especially when its your savings on the line, as there are too many sharks out there looking for people in your position. Even the advice of seeking councel from investment banks is, i believe, not the way to go as none of them were able to predict such movements in the forex markets in the first place. NOONE CAN PREDICT THE MARKETS, either Forex or Stocks. Bottom line, there is no quick fix and any promise of such is unsubstantiated.

Until the dollar shows signs of a recovery, it would be prudent for you to instead economise on your own lifestyle/budget rather than look for ways to maintain it with a devalued montly income as this is UNDER YOUR OWN CONTROL.

Finally.....DON'T PANIC!

Best of luck.

Kir

[RDN]

... the message, sent by maitai on this forum in the early hours of last friday (yesterday)...by far the most horrific and scary message I have read in my entire life. Since then it has disappeared not only on this website but also from news-websites around the world.....

<{POST_SNAPBACK}>

Woooo..scary! It has disappeared from this web site. Woooo....

It was deleted because it was political drivel. It was also plagiarism - it was an article written by someone else.

" but also from news-websites around the world....." Woooo. Scary! I found it in about 10 seconds. You heard of "Google"?

This topic will be closed soon unless it gets back on-topic, into the real world and out of the conspiracy theory lunatic asylum.

[Yangpuss]

Thanks again. So much differing advice. Well, most of the "experts" I read on the net seem to think the dollar is in a long-term slide. My fear is that it will lose as much as 30 percent more than it's lost already.

I would feel much more comfortable getting out of it into something else--some currency of a country that doesn't waste hundreds of billions of taxpayer dollars a year on weaponry and wars. But my concern right now is that the dollar has slid too far down, and maybe I should wait for a correction before making a move. I know six months or so ago it was doing much better, at $1.20 to the euro. I wish now that I had made my move then. But I'm very busy with other things all the time and don't like having to deal with difficult decisions like this, so I didn't. I got complacent and thought, well, maybe the dollar isn't going to ######, after all.

Of course, the dilemma is that in waiting for a correction, it may not happen, and the dollar will just get lower and lower. But I hate the idea that I could have done this at a much better price, if I'd only been actively planning and paying attention. I want to feel that I made a good deal, and converting right now, at a new dollar low, I would feel bad about it. Unless it was to yuan or another pegged currency, in which case i could feel good that i was getting the same price i could have got three years ago when the dollar was much stronger. That ability to sort of undo my past mistakes is very appealing.

I don't think you can ignore the debt. Bush has, in my view, deliberately bankrupted the country for his own purposes, which are to have an excuse to cut social spending and to enrich his circle of plutocrat friends, who doubtless got out of the dollar a long time ago.

How can the dollar go up again with the financial picture in the US the way it is?

I really fear a very catastrophic depression in the dollar and in the US.

[Butterfly]

I am afraid the US dollar is doomed. With Bush the Chimp trying to be smart with the economy, he is going to bankrupt the whole system. At least the "Walmart" crowd who voted for him will be starved to death when they realize that everything has been outsourced and they can't import anything with their worthless dollars

I am not happy about this, but this is the hard truth. Time to switch to the Euro. Dump the dollar before it's too late. I know I waited too long and I have lost $124,000 in the process in direct currency loss. What a shame.

[Butterfly]

Also, keep in mind that most rich foreigners assets (read Saudi Arabia and everything non-American) have been kicked out of the US and this has put a downward pressure to the US dollars. When you are moving trillions of "illegal" or "suspect" money from US dollars to Euro, it has an impact on your currency. Won't take long before it's the oil that's being switched to Euro, and when this happens, expect another 50% loss in the US dollar. With this administration and US Treasury current policy, only americans will be entitled to own US dollars. Everybody else will be forced by the US or by the economic situation to move to Euros. While the Euro will replace the US dollars on the world wide market, the US dollars will be used as a local currency for US citizens. Nothing wrong with that, just market forces at work. Mission Acomplished.

[Flummoxed]

I recently predicted 2.50 dollars to the pound by the second or third quarter next year. I got flamed to &lt;deleted&gt; for that but you mark my words... and that won't be the bottom either.

personally I can't wait to see it happen. There are those that think it'll bugger the World economy. I disagree. I think most of the World can't wait to see the end of the Dollar as a reserve currency. It's just a matter of time before your paying for your visa stamp at the borders with Euro's rather than Dollars.

[thaistick]

It is the Dollar-Euro War.The invasion of Iraq was protested around the world as "blood for oil" but the real reason was that Huessin switched trading his oil from dollars to euros.And it turned out well for him as the dollar declined.OPEC and other oil producers like Russia are all either switching or talking about switching to using euros to trade oil.No more petrodollars will be disastrous for the dollar as the world switches en masse to the euro to be able to buy oil.The petroeuro will be great for Europe but will pull the plug on the dollar-printing free-ride US economy.

A military presence in Iraq will put the fear of God into Saudi Arabia,where US troops are being withdrawn or kicked out of,and the other Gulf oil states.

Unfortunately if Russia and other large strong oil states all switch to the euro there is nothing the US can do about it.The world is switching anyway to the euro and within this decade the world's currency reserve and oil and commodities trading will be in euros.The longer term future is the yuan and/or the Asian "dollar" which will supplant the euro.

[mbkudu]

Also, keep in mind that most rich foreigners assets (read Saudi Arabia and everything non-American) have been kicked out of the US and this has put a downward pressure to the US dollars. When you are moving trillions of "illegal" or "suspect" money from US dollars to Euro, it has an impact on your currency. Won't take long before it's the oil that's being switched to Euro, and when this happens, expect another 50% loss in the US dollar. With this administration and US Treasury current policy, only americans will be entitled to own US dollars. Everybody else will be forced by the US or by the economic situation to move to Euros. While the Euro will replace the US dollars on the world wide market, the US dollars will be used as a local currency for US citizens. Nothing wrong with that, just market forces at work. Mission Acomplished.

Saddam Hussein, before the war, asked the UN for approval to switch from the $

to the Euro for oil currency. The UN approved but the US did not, so much so that they attacked Iraq on a false premise, WMDs. Ask Dickie to pm the link for this information, it's very interesting indeed. If major oil producing countries insist on payments in Euros, it will shut out a major middle man, the US. Just think of the exchange commision that is made when for example a country like Japan has to change Yen into US$ for a hundred million dollar shipment of oil from Saudi Arabia. Who makes that exchange commission? Uncle Sam.

Sorry for the repeat Thaistick, it's early in the morning

For all of you who have lots of US$, you could just print up some extra ones to make up for your losses, that's what the US government does .

Edited December 19, 2004 by mbkudu

[Flummoxed]

Not really relevant but another example of the U.S. wanting to dominate the World... A European consortium recently announced plans to create it's own network of satellites to be used for all manner of useful application, including global positioning. The U.S. tried to block it, saying it would interfere with there own GPS system. Their application to have the European one stopped was denied. They can't have it all their own way anymore. The World is sick of them.

[RDN]

...To answer the initial question having had a rethink... 1/3 in British Pounds, 1/3 in USD and 1/3 in Euros. As soon as you see the Euro dropping, go half and half with the other two.

<{POST_SNAPBACK}>

This is a surprise to me - I agree with you 100% Ravisher That's exactly where my money is - 1/3rd each in those 3 currencies. I might not win in the currency wars, but I also won't lose . Well, not unless the Asian currencies start to do something special

[LaoPo]

to be on the safe side I would consider to put your US assets into 3 currencies:

US $

GB Pounds

Euro's

<{POST_SNAPBACK}>

that's what I advised on page 1, dec 16th and in a later message, to be even more safe: US$-GBP-EURO-SWISS FRANCS

LaoPo

[RDN]

to be on the safe side I would consider to put your US assets into 3 currencies:

US $

GB Pounds

Euro's

<{POST_SNAPBACK}>

that's what I advised on page 1, dec 16th and in a later message, to be even more safe: US$-GBP-EURO-SWISS FRANCS

LaoPo

<{POST_SNAPBACK}>

Kudos to you LaoPo! We have such short memories...

[LaoPo]

to be on the safe side I would consider to put your US assets into 3 currencies:

US $

GB Pounds

Euro's

<{POST_SNAPBACK}>

that's what I advised on page 1, dec 16th and in a later message, to be even more safe: US$-GBP-EURO-SWISS FRANCS

LaoPo

<{POST_SNAPBACK}>

Kudos to you LaoPo! We have such short memories...

<{POST_SNAPBACK}>

It's not wisdom...just trying to have some common sense; even if you spread your assets in 4 currencies it will still be like a rolling ball (world economy) and we never know where the ball is going.

Because of the small distances nowadays, internet (!) and all countries depending on each other (i.o.w. we cannot survive without each other anymore) NOTHING can be taken for granted.

The US still might be world power nr. 1...and they believe this will last forever.

Really?

In the future (next 15-20 years) there will be no more 1 Policeman to control, guard or watch the world, let alone the Far East with BILLIONS of people (North America just 300 million...).

The days of the US as a superpower are counted, but in fact there's nothing new; superpowers come and go.

Napoleon already said it: "l'Histoire se repete" - History repeats itself. (look what happened to him....The selfdeclared 'Emperor'.

LaoPo

[mbkudu]

Alan Greenspan and his team are really the ones pulling the strings here. Greenspan has been in office since the Cinton administration. George W. Bush has probably never read the Wall Street journal in his entire life. He doesn't know shiit about anything. He truly epitimises a true puppet ruler.

[Steve2UK]

I believe the USA just wiped off some $4.5 billion in debts owed to them by Irak. Hardly a move for a country in ''trouble''.

I am not talking 'conspiracy theory' either... Just trying to judge the world economical situations, using 'logic'.

To answer the initial question having had a rethink... 1/3 in British Pounds, 1/3 in USD

and 1/3 in Euros. As soon as you see the Euro dropping, go half and half with the other two.

<{POST_SNAPBACK}>

Then again, $4.5billion is a drop in the US deficit ocean - so it's unlikely to have much relevance to gauging to what extent the US is in trouble. Far more relevant is that Priority # 1 for the US is to extract itself out of the Iraq quagmire with at least some semblance of "job done" (or as the phrase goes - "Mission Accomplished"). That can't happen until the Iraq economy at least looks like it's functioning; and THAT can't happen until the debt burden is eliminated through a majority of the creditor countries cancelling/re-scheduling the debts; and THAT can't happen if the US doesn't give a lead. QED.

[frumau]

Check out http://www.brillig.com/debt_clock/ :

"U.S. NATIONAL DEBT CLOCK

The Outstanding Public Debt as of 19 Dec 2004 at 02:49:21 PM GMT is:

$7,584,131,456,306.22

The estimated population of the United States is 295,096,973

so each citizen's share of this debt is $25,700.47.

The National Debt has continued to increase an average of

$2.56 billion per day since September 30, 2004!

Concerned? Then tell Congress and the White House"

It will take a while for the US to fix that. Certainly when foreign investors keep on taking away their money from the land of the Amercain dream.

Edited December 19, 2004 by frumau

[frumau]

It might be so that the USA as a world power will not fade away very soon. It has been a world power a lot longer like any other in the past and it is mighty strong. But as the world changes and quite a few potential powers have appeared on the world stage it will become more and more difficult for the US of A to maintain this position. It cannot keep all potential threats in check as 9/11 has proven. Ravisher might be very right when he says that nothing short of a nucleair war will keep countries like China or India from getting their share of the world. Let's hope not. The US would loose a lot of consumers and cheap labour. So they won't go for that solution very quickly anyway

I would not underestimate the power of the EU either. A common foe will surely unite them in the future.... The US or India maybe. Who knows. I certainly hope so. It might speed up the unification process.

Edited December 19, 2004 by frumau

[Dickie]

The EU already has common enemies 'within it'... Germany - England - France - Greece etc etc and if Turkey comes in there will also be Turkey - Greece. Wait until the next BIG situation such as Irak... When the USA is 'not' involved... see how "united" Europe is then, when the UK, France, Germany, Spain and Greece etc try to reach an "agreement". My guess is it will be a total fiasco. 

<{POST_SNAPBACK}>

Especially france against everyone else, always has been and always will be. Spain still wants Gib and who's forgotten their unwavering support for the argies when the Falklands war was on? The Dutch haven't forgiven the Germans, etc. The list of reasons why the idea of an EU army is ludicrous would take an evening of typing.

I think it WILL be a fiasco, probably resulting in the British forces carrying the lion's share of the burden (again ).

[frumau]

I think that you guys should be a little less pessimistic about a united Europe. Everything has gone well for over 59 years so far. Just a few squirmishes here and there. There will always be cheaters and arrogant countries in the game who will occasionaly try to ruin the status quo or get out of the game. No doubt about it. The But come on guys. Give the EU a chance! If all EU citizens think like you guys it WILL BE A FIASCO indeed. The ever smaller becoming world economy will makes Europe stick together more and more

Written an optimist and true believer of the EU,

Jasper

[Dickie]

I think that you guys should be a little less pessimistic about a united Europe. Everything has gone well for over 59 years so far. Just a few squirmishes here and there. There will always be cheaters and arrogant countries in the game who will occasionaly try to ruin the status quo or get out of the game. No doubt about it. The But come on guys. Give the EU a chance! If all EU citizens think like you guys it WILL BE A FIASCO indeed. The ever smaller becoming world economy will makes Europe stick together more and more

Written an optimist and true believer of the EU,

Jasper

<{POST_SNAPBACK}>

Written by someone whose country has for decades been a net beneficiary of EU largesse, meaning it lived off the backs of the donor nations, UK being one of them.

The EU is another soviet union in the making and will suffer the same fate. Meanwhile those foolish enough to believe it to be the utopia the eurocrats tout it to be will be the ones to progressively suffer as more and more regs crush the life out of whatever economic strength is left in the continent. Witness the mess Germany is in, strangled by stupid laws and regs. If the continent's economic powerhouse can be brought low then no one is safe.

Sod giving it a chance, if I had any say in it I'd execute every sodding member of the eu commission, followed by the government, before the metamorphosis from trading block to communist union is complete. Anyone who says that sort of thing couldn't happen now really needs to go and lie down somewhere dark.

[frumau]

<{POST_SNAPBACK}>

Written by someone whose country has for decades been a net beneficiary of EU largesse, meaning it lived off the backs of the donor nations, UK being one of them.

The EU is another soviet union in the making and will suffer the same fate. Meanwhile those foolish enough to believe it to be the utopia the eurocrats tout it to be will be the ones to progressively suffer as more and more regs crush the life out of whatever economic strength is left in the continent. Witness the mess Germany is in, strangled by stupid laws and regs. If the continent's economic powerhouse can be brought low then no one is safe.

Sod giving it a chance, if I had any say in it I'd execute every sodding member of the eu commission, followed by the government, before the metamorphosis from trading block to communist union is complete. Anyone who says that sort of thing couldn't happen now really needs to go and lie down somewhere dark.

<{POST_SNAPBACK}>

We(The Netherlands) have always been a net contributor to the EU. GB on the other hand begged the founding fathers of the EU to let her in and then made sure the would get most of the money to put into the EU back(Thatcher with her "I want my money back" slogan) Why Great Britain ever joined is a mistery to me. Island minded people should stick to themselves. We should have refused the English entry the second time as well. And what is this EU=A Soviet Union in the making idea all about? A point of view that the EU won't last might be feasable, but surely the EU will never turn into a communist state.

Edited December 19, 2004 by frumau

[Yangpuss]

Do you really think I should buy euros and pounds when they are priced so high and the dollar is at a low?

Wouldn't yuan or another pegged currency make more sense, just because I can buy it at the same price i could have bought it before the dollar's slide?

What is the risk in buying yuan? Everybody expects it to appreciate when the peg is removed.

Am I right to wait for a correction or should I buy now? I am going to get an Everbank account probably. But I can't make a move for 10 days or so, for various reasons, so I can't do this tomorrow.

What do you think about buying lots of American Express travelers checks in foreign currencies and holding onto them?

My fear is that a panic might ensue and everybody starts selling dollars and it drops dramatically very quickly.

Edited December 19, 2004 by Yangpuss

[Dickie]

We(The Netherlands) have always been a net contributor to the EU.

My mistake.

GB on the other hand begged the founding fathers of the EU to let her in and then made sure the would get most of the money to put into the EU back(Thatcher with her "I want my money back" slogan) Why Great Britain ever joined is a mistery to me. Island minded people should stick to themselves. We should have refused

the English entry the second time as well.

That WAS a big mistake. However, even after the rebate, the UK remains a larger net contributor than other countries with more capacity to pay. We joined because edward heath hated the commonwealth and was determined to plunge us into a european union regardless of any consequences.

And what is this EU=A Soviet Union in the making idea all about? A point of view that the EU won't last might be feasable, but surely the EU will never turn into a communist state.

<{POST_SNAPBACK}>

You really don't see it, do you? The Germans do, when I was in Munich the opinions of all with whom I spoke was that it's just another soviet union in the making. Even the language coming from the commission sounds just like the SU. People exist to serve the union, rather than the union serving the people.

[Yangpuss]

No, I'm not panicking. I know that all people can offer are opinions and guesses, but those can be educational, and I'm trying to get a wide variety of perspectives in order to make a good decision.

Right now, I have interest from my CDs deposited into a money market account, and I live off that. It's pretty low interest, another thing for which I have Bush to thank. Now, I don't know what the rates are on Everbank.com's various foreign currency CDs, because when you click on Everbank's links for that info, they don't work. I have a lot more research to do, and I thank everyone here for their opinions.

My gut feeling is that there's going to be a depression in the US, but I've had that idea for a long time and I could be wrong. Basically, I see the whole world going to ###### this century, so I'm pretty pessimistic, but want to be able to enjoy life a bit before the whole planet descends into madness and death.

I think a lot of you have it wrong about the EU and all. It's all about globalization and world government. It's not about each country looking out for the interests of its people, it's about the elite of all countries planning on hoarding all the world's wealth for themselves and leaving crumbs for everybody else, and their countrymen be damned. This is the trend engineered by the elite, and it's accelerating, and all these federations of Asian states or European states or whatever, and global trade agreements, and global regulatory bodies like the WTO and Codex and all the rest, are all part of it.

Edited December 19, 2004 by Yangpuss

[Flummoxed]

Yangpuss must be wondering what he started

[mbkudu]

All this talk of chaos, planetary downfall, pestilence and pillage makes me wonder why any of you would consider a currency. Isn't gold the best bet in times like these? If you're on a rickety, rotting vessal in high seas with a bunch of starving refugees aboard, you'll want a piece of gold in your pouch, not worthless paper. Gold and real estate will always be solid.

Edited December 20, 2004 by mbkudu