LaoPo Posted August 26, 2009 Share Posted August 26, 2009 " The Crash Of The E U R O " In one of the investment letters I receive they speak about the rumour that 4 very large International investors/speculators/traders have informed a large American investment letter with a huge client data base that they are intending to let the EURO crash on October 7th. We all know what happened with the GBP on Black Wednesday, September 16, 1992 when George Soros hit the financial world with his action when his fund sold short more than $ 10 Billion in GBP's which made more than $ 1 Billion in profit. Anybody about an upcoming crash of the Euro............or not ? After some search I found this: U.S. Dollar Crash in September/ October 2009 Rumours There have been disturbing stories/rumors going around that the USD is poised for a crash episode in the Fall. The stories are basically anecdotal. One suggests that US embassies have been told to gather a year’s local currency in their host country. That is one example. http://www.marketoracle.co.uk/Article12574.html LaoPo Link to comment Share on other sites More sharing options...
flying Posted August 26, 2009 Share Posted August 26, 2009 (edited) " The Crash Of The E U R O "In one of the investment letters I receive they speak about the rumor that 4 very large International investors/speculators/traders have informed a large American investment letter with a huge client data base that they are intending to let the EURO crash on October 7th. We all know what happened with the GBP on Black Wednesday, September 16, 1992 when George Soros hit the financial world with his action when his fund sold short more than $ 10 Billion in GBP's which made more than $ 1 Billion in profit. Anybody about an upcoming crash of the Euro............or not ? After some search I found this: U.S. Dollar Crash in September/ October 2009 Rumours There have been disturbing stories/rumors going around that the USD is poised for a crash episode in the Fall. The stories are basically anecdotal. One suggests that US embassies have been told to gather a year's local currency in their host country. That is one example. http://www.marketoracle.co.uk/Article12574.html LaoPo Many of the "rumors" of the USD are tied to also needing a bank holiday soon. The FDIC is on its last leg after 81 banks fell this year. They foresee at least 150 more banks failing. If 81 crippled them what will the next 150 do? Today's Q2 Report due out of the FDIC will be interesting as well as the response to the news. Depending of course on what they are allowed to release. It is obvious the raise of FDIC deposit limit from 100k to 250k last year was just to calm nerves. They in no way could cover that if need be. As for the Euro many thought that is the way it will go which in itself will cause another run perhaps to the USD? Mistake? PS: if you have a fast connection the meeting is on now... http://www.vodium.com/MediapodLibrary/inde...100000100000101 Edited August 26, 2009 by flying Link to comment Share on other sites More sharing options...
Spee Posted August 26, 2009 Share Posted August 26, 2009 Many of the "rumors" of the USD are tied to also needing a bank holiday soon. Rumors my arse. For the past few years, the US has been printing money like it is going out of style. http://eastcoasteconomics.wordpress.com/20...y-of-money-m-v/ Currency devaluation and rampant inflation are inevitable. And just when we think it couldn't get any worse, Obama has handed over the New York Fed to a union hack with absolutely zero banking pedigree. http://online.wsj.com/article/SB1251125476...eTabs%3Darticle As two of the comments suggest: One guy wrote: “Can anyone tell me what a journeyman electrician brings to the N.Y. Fed? What expertise do you need to be on the N.Y. Fed. Not much apparently.” The next guy wrote: “Hey, that was Geithner's old job. Do you think this guy is next in line for Secretary of Treasury job?” I never thought I would ever be considering buying gold at it's currently inflated price of $945, but it doesn't seem like such a bad idea right now. Link to comment Share on other sites More sharing options...
Naam Posted August 26, 2009 Share Posted August 26, 2009 :D Link to comment Share on other sites More sharing options...
LaoPo Posted August 26, 2009 Author Share Posted August 26, 2009 :D ...hmmmm...maybe I should have written : "The Crash Of The B A H T" ? Aaargh......I feel better now LaoPo Link to comment Share on other sites More sharing options...
basjke Posted August 26, 2009 Share Posted August 26, 2009 " The Crash Of The E U R O "In one of the investment letters I receive they speak about the rumour that 4 very large International investors/speculators/traders have informed a large American investment letter with a huge client data base that they are intending to let the EURO crash on October 7th. We all know what happened with the GBP on Black Wednesday, September 16, 1992 when George Soros hit the financial world with his action when his fund sold short more than $ 10 Billion in GBP's which made more than $ 1 Billion in profit. Anybody about an upcoming crash of the Euro............or not ? After some search I found this: U.S. Dollar Crash in September/ October 2009 Rumours There have been disturbing stories/rumors going around that the USD is poised for a crash episode in the Fall. The stories are basically anecdotal. One suggests that US embassies have been told to gather a year’s local currency in their host country. That is one example. http://www.marketoracle.co.uk/Article12574.html LaoPo Nice from them that they let us a know a bit in advance,and more specifically the exact date,when they gonna let the euro crash. I can't find all the news article regarding black wednesday but did Soros also notified everyone about that day way in advance. Maybe they could rent some billboards to announce their decision? Link to comment Share on other sites More sharing options...
flying Posted August 26, 2009 Share Posted August 26, 2009 Many of the "rumors" of the USD are tied to also needing a bank holiday soon. Rumors my arse. Agreed but I was trying to be kind Hence the "" Nice from them that they let us a know a bit in advance, Actually everyone was given the gift of almost 1 year already. Will those with their head in the sand be surprised if there is a much bigger crash coming? Probably.... Will those that acted on it for the past year to prepare in ways that may help themselves in some way be sorry if no crash occurs? Not in the least Link to comment Share on other sites More sharing options...
basjke Posted August 26, 2009 Share Posted August 26, 2009 Nice from them that they let us a know a bit in advance, Will those that acted on it for the past year to prepare in ways that may help themselves in some way be sorry if no crash occurs? Not in the least Very good question. Well actually i'm on the sidelines since christmas 2007 and watching it very closely. I also think this is far from over but if an eurocrash gonna happen I doubt very much.My experience is that if something is announced with much publicity it has a reason and mostly turns out the opposite way. Am I feeling sorry that I didn't step in the past 6 months?Yes,big time,because I could have made a load of profit. Will I still feel sorry about this in the next 6 months?My intuition says no but I can only tell you in 6 months and nobody on this planet can guarantee you a correct answer. Link to comment Share on other sites More sharing options...
Datsun240Z Posted August 26, 2009 Share Posted August 26, 2009 The Euro was a gamble from it's beginning a while back. It first stood below the Dollar, now the Dollar is lower. What good that did to the world, showed us, and more has to come I guess... Link to comment Share on other sites More sharing options...
Carmine6 Posted August 26, 2009 Share Posted August 26, 2009 Many of the "rumors" of the USD are tied to also needing a bank holiday soon. Rumors my arse. For the past few years, the US has been printing money like it is going out of style. http://eastcoasteconomics.wordpress.com/20...y-of-money-m-v/ Currency devaluation and rampant inflation are inevitable. And just when we think it couldn't get any worse, Obama has handed over the New York Fed to a union hack with absolutely zero banking pedigree. http://online.wsj.com/article/SB1251125476...eTabs%3Darticle As two of the comments suggest: One guy wrote: “Can anyone tell me what a journeyman electrician brings to the N.Y. Fed? What expertise do you need to be on the N.Y. Fed. Not much apparently.” The next guy wrote: “Hey, that was Geithner's old job. Do you think this guy is next in line for Secretary of Treasury job?” I never thought I would ever be considering buying gold at it's currently inflated price of $945, but it doesn't seem like such a bad idea right now. It'll be interesting to see what happens when the Fed moves to tighten (if ever) and that one dissenting vote comes up. Laugh, cry, or both? Link to comment Share on other sites More sharing options...
britmaveric Posted August 27, 2009 Share Posted August 27, 2009 Rumours for sure - the $ will never crash. Link to comment Share on other sites More sharing options...
Naam Posted August 27, 2009 Share Posted August 27, 2009 The Euro was a gamble from it's beginning a while back. It first stood below the Dollar, now the Dollar is lower. What good that did to the world, showed us, and more has to come I guess... it did NOT "first stood below the dollar" after its inception one €UR bought USD 1.18 - perhaps you tell us your thoughts on "what good that did to the world"? Link to comment Share on other sites More sharing options...
Naam Posted August 27, 2009 Share Posted August 27, 2009 Rumours for sure - the $ will never crash. true! because it crashed already Link to comment Share on other sites More sharing options...
flying Posted August 27, 2009 Share Posted August 27, 2009 Rumours for sure - the $ will never crash. If by crash you mean worth 0 then you may be right...For now Anything more than 0 & I would have to agree with Naam Link to comment Share on other sites More sharing options...
basjke Posted August 27, 2009 Share Posted August 27, 2009 The Euro was a gamble from it's beginning a while back. It first stood below the Dollar, now the Dollar is lower. What good that did to the world, showed us, and more has to come I guess... it did NOT "first stood below the dollar" after its inception one €UR bought USD 1.18 - perhaps you tell us your thoughts on "what good that did to the world"? Isn't it so that the 1.18 rate to the dollar was the introduction rate and did hold for only one day after which the euro fell heavily? The fact that the euro nowadays buys more dollars has also more to do with the weakness of the dollar then with the strength of the euro. Link to comment Share on other sites More sharing options...
Naam Posted August 27, 2009 Share Posted August 27, 2009 The Euro was a gamble from it's beginning a while back. It first stood below the Dollar, now the Dollar is lower. What good that did to the world, showed us, and more has to come I guess... it did NOT "first stood below the dollar" after its inception one €UR bought USD 1.18 - perhaps you tell us your thoughts on "what good that did to the world"? Isn't it so that the 1.18 rate to the dollar was the introduction rate and did hold for only one day after which the euro fell heavily? The fact that the euro nowadays buys more dollars has also more to do with the weakness of the dollar then with the strength of the euro. NO, it is NOT so! it took one year till EUR/USD were on par (1999>2000). then for a period of 2½ years USD was ~10 max 15% stronger and at the end of 2002 the USD declined. the "hickup" (end july 2008) did not really make a dent in the now seven year long decline of the Dollar vs. EUR. arguments that one currency is stronger because the other one is weaker demonstrate nothing but ********* and that goes for bar stool tales like "did hold for only one day..." too. Link to comment Share on other sites More sharing options...
basjke Posted August 27, 2009 Share Posted August 27, 2009 Isn't it so that the 1.18 rate to the dollar was the introduction rate and did hold for only one day after which the euro fell heavily? The fact that the euro nowadays buys more dollars has also more to do with the weakness of the dollar then with the strength of the euro. NO, it is NOT so! it took one year till EUR/USD were on par (1999>2000). then for a period of 2½ years USD was ~10 max 15% stronger and at the end of 2002 the USD declined. the "hickup" (end july 2008) did not really make a dent in the now seven year long decline of the Dollar vs. EUR. arguments that one currency is stronger because the other one is weaker demonstrate nothing but ********* and that goes for bar stool tales like "did hold for only one day..." too. YES it IS.Try reading a quote,I didn't say that the euro fell below par to the dollar after only one day.I said,THAT THE RATE OF 1.18 TO THE DOLLAR ONLY HELD FOR ONE DAY. Link to comment Share on other sites More sharing options...
pagallim Posted August 27, 2009 Share Posted August 27, 2009 The Euro was a gamble from it's beginning a while back. It first stood below the Dollar, now the Dollar is lower. What good that did to the world, showed us, and more has to come I guess... it did NOT "first stood below the dollar" after its inception one €UR bought USD 1.18 - perhaps you tell us your thoughts on "what good that did to the world"? Isn't it so that the 1.18 rate to the dollar was the introduction rate and did hold for only one day after which the euro fell heavily? The fact that the euro nowadays buys more dollars has also more to do with the weakness of the dollar then with the strength of the euro. The introduction rate was US$1.18 to the Euro, not the other way round. Annual high and low of value against the dollar below: Year Lowest ↓ Highest ↑ Date Rate Date Rate 1999 03 Dec $1.0015 05 Jan $1.1790 2000 26 Oct $0.8252 06 Jan $1.0388 2001 06 Jul $0.8384 05 Jan $0.9545 2002 28 Jan $0.8578 31 Dec $1.0487 2003 08 Jan $1.0377 31 Dec $1.2630 2004 14 May $1.1802 28 Dec $1.3633 2005 15 Nov $1.1667 03 Jan $1.3507 2006 02 Jan $1.1826 05 Dec $1.3331 2007 12 Jan $1.2893 27 Nov $1.4874 2008 27 Oct $1.2460 15 Jul $1.5990 2009 05 Mar $1.2555 5 Aug $1.4410 Source: Euro exchange rates in USD, EC Link to comment Share on other sites More sharing options...
Naam Posted August 27, 2009 Share Posted August 27, 2009 (edited) Isn't it so that the 1.18 rate to the dollar was the introduction rate and did hold for only one day after which the euro fell heavily? The fact that the euro nowadays buys more dollars has also more to do with the weakness of the dollar then with the strength of the euro. NO, it is NOT so! it took one year till EUR/USD were on par (1999>2000). then for a period of 2½ years USD was ~10 max 15% stronger and at the end of 2002 the USD declined. the "hickup" (end july 2008) did not really make a dent in the now seven year long decline of the Dollar vs. EUR. arguments that one currency is stronger because the other one is weaker demonstrate nothing but ********* and that goes for bar stool tales like "did hold for only one day..." too. YES it IS.Try reading a quote,I didn't say that the euro fell below par to the dollar after only one day.I said,THAT THE RATE OF 1.18 TO THE DOLLAR ONLY HELD FOR ONE DAY. which is wrong too. read the posting of member "Pagallim" below above Edited August 27, 2009 by Naam Link to comment Share on other sites More sharing options...
basjke Posted August 27, 2009 Share Posted August 27, 2009 Isn't it so that the 1.18 rate to the dollar was the introduction rate and did hold for only one day after which the euro fell heavily? The fact that the euro nowadays buys more dollars has also more to do with the weakness of the dollar then with the strength of the euro. NO, it is NOT so! it took one year till EUR/USD were on par (1999>2000). then for a period of 2½ years USD was ~10 max 15% stronger and at the end of 2002 the USD declined. the "hickup" (end july 2008) did not really make a dent in the now seven year long decline of the Dollar vs. EUR. arguments that one currency is stronger because the other one is weaker demonstrate nothing but ********* and that goes for bar stool tales like "did hold for only one day..." too. YES it IS.Try reading a quote,I didn't say that the euro fell below par to the dollar after only one day.I said,THAT THE RATE OF 1.18 TO THE DOLLAR ONLY HELD FOR ONE DAY. which is wrong too. read the posting of member "Pagallim" below. Sorry DOCTOR for my wrong quoting of dollar to the euro with euro to the dollar. :D Everybody in his right mind will now what I meant.But if you really want it to be correct.If YOU read Pagalim's post you will find out that it took till 2004 untill the euro bought 1.18 dollar,and it NEVER reached this rate before that date,unlike you seem to know that it traded at that rate in 1999. Link to comment Share on other sites More sharing options...
Naam Posted August 27, 2009 Share Posted August 27, 2009 Sorry DOCTOR for my wrong quoting of dollar to the euro with euro to the dollar. :D Everybody in his right mind will now what I meant. are you trying to tell me that i am in my right mind Basjke? if yes, would you please convince my wife because she thinks otherwise? Link to comment Share on other sites More sharing options...
trogers Posted August 27, 2009 Share Posted August 27, 2009 Dollar has unlimited supply, and the EURO is going to crash. I am keeping my money in Rupiah! Link to comment Share on other sites More sharing options...
loverboy44 Posted August 27, 2009 Share Posted August 27, 2009 Dollar has unlimited supply, and the EURO is going to crash. I am keeping my money in Rupiah! If anything is going to crash at all then it is the $. Last year, after the crisis began the EURO had a record high against the dollar, because noone trusted the US any more. If the $ falls at the world currency and the Euro takes over then good night America. This is already dicussed in many countries because of the unstability of the $. Link to comment Share on other sites More sharing options...
lannarebirth Posted August 27, 2009 Share Posted August 27, 2009 It gets noisy before the big turns, that's for sure. Link to comment Share on other sites More sharing options...
Datsun240Z Posted August 27, 2009 Share Posted August 27, 2009 Dollar has unlimited supply, and the EURO is going to crash. I am keeping my money in Rupiah! If anything is going to crash at all then it is the $. Last year, after the crisis began the EURO had a record high against the dollar, because noone trusted the US any more. If the $ falls at the world currency and the Euro takes over then good night America. This is already dicussed in many countries because of the unstability of the $. Indeed. But that's what I try to say Naam, when they Euro wasn't there, America had a leading position with the $, which was good for whole the worlds working market. Link to comment Share on other sites More sharing options...
Who, me ? Posted August 27, 2009 Share Posted August 27, 2009 OK, All this is like Chinese language to me !! I don't catch it....So if as it is said, the Euro crash (or the baht).....what is going to happen....1 Euro = 20 Baht OR 1 Euro = 70 Baht ? (I mean in these proportions).... Thanks to put it simple, for a dumb in this field Link to comment Share on other sites More sharing options...
Naam Posted August 27, 2009 Share Posted August 27, 2009 OK, All this is like Chinese language to me !! I don't catch it....So if as it is said, the Euro crash (or the baht).....what is going to happen....1 Euro = 20 Baht OR 1 Euro = 70 Baht ? (I mean in these proportions)....Thanks to put it simple, for a dumb in this field 1 EUR = 1 Baht Link to comment Share on other sites More sharing options...
Naam Posted August 27, 2009 Share Posted August 27, 2009 Dollar has unlimited supply, and the EURO is going to crash. I am keeping my money in Rupiah! If anything is going to crash at all then it is the $. Last year, after the crisis began the EURO had a record high against the dollar, because noone trusted the US any more. If the $ falls at the world currency and the Euro takes over then good night America. This is already dicussed in many countries because of the unstability of the $. Indeed. But that's what I try to say Naam, when they Euro wasn't there, America had a leading position with the $, which was good for whole the worlds working market. i am sure you wouldn't like me to comment on that "240" Link to comment Share on other sites More sharing options...
Who, me ? Posted August 27, 2009 Share Posted August 27, 2009 OK, All this is like Chinese language to me !! I don't catch it....So if as it is said, the Euro crash (or the baht).....what is going to happen....1 Euro = 20 Baht OR 1 Euro = 70 Baht ? (I mean in these proportions)....Thanks to put it simple, for a dumb in this field 1 EUR = 1 Baht Geeee, I have a couple of transfers to make to Europe soon, so I wish your prediction comes true....If yes, I invite you for beers Link to comment Share on other sites More sharing options...
LaoPo Posted August 27, 2009 Author Share Posted August 27, 2009 OK, All this is like Chinese language to me !! I don't catch it....So if as it is said, the Euro crash (or the baht).....what is going to happen....1 Euro = 20 Baht OR 1 Euro = 70 Baht ? (I mean in these proportions)....Thanks to put it simple, for a dumb in this field 1 EUR = 1 Baht .................and 65 million Thai crying...."woat heppen...." ? ...no hep Falang" ? LaoPo Link to comment Share on other sites More sharing options...
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