" The Crash Of The E U R O "

[Datsun240Z]

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

The Baht is not so important in the world market... sorry to say. If it would crash, it would only benefit foreigners for more cheap living and placing their factories there for more cheap low cost labour.

[Datsun240Z]

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

If that was true, all the benefits of cheap LOS are gone.

[Datsun240Z]

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"

It is, when most countries in EU had their own coins, their own position in the world market, and their own working market was much stronger. What happens now is they all move production to low costs countries even more. One nation, and that was "U.S" , the British/Dubai had a stong coin, which only benefits for export/import -> people getting jobs, and not factories placed to poor countries, and people left workless.

The idea of making the EU " United " which it's own coin. I don't believe it was a good idea at all. But now we can't go back.

[LaoPo]

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

The Baht is not so important in the world market... sorry to say. If it would crash, it would only benefit foreigners for more cheap living and placing their factories there for more cheap low cost labour.

...

LaoPo

[bobbin]

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"?

If I'm not mistaken, it debuted at approximately USD 0.89.

[lannarebirth]

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"?

If I'm not mistaken, it debuted at approximately USD 0.89.

1.17- 1.18 I believe, followed by a relatively swift decline to the low 80's.

[Naam]

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"?

If I'm not mistaken, it debuted at approximately USD 0.89.

the good news is... none, the bad news is that you are not approximately but very much quite mistaken

[Naam]

It is, when most countries in EU had their own coins, their own position in the world market, and their own working market was much stronger. What happens now is they all move production to low costs countries even more. One nation, and that was "U.S" , the British/Dubai had a stong coin, which only benefits for export/import -> people getting jobs, and not factories placed to poor countries, and people left workless.

The idea of making the EU " United " which it's own coin. I don't believe it was a good idea at all. But now we can't go back.

[myfriendu]

looks like the end of the world guys,mork calling orsun come in orsun lol

[ronz28]

The U.S. added 111 lenders to its list of “problem banks” in the second quarter, a 36 percent increase that pushed the group to a 15-year high.

A total of 416 banks with combined assets of $299.8 billion failed the Federal Deposit Insurance Corp.’s grading system for asset quality, liquidity and earnings, the most since June 1994, the Washington-based FDIC said in a report today. Regulators didn’t identify companies deemed “problem” banks.

http://www.bloomberg.com/apps/news?pid=206...id=aKrqdLil0pGI

Lets see 4 banks closed this weekend and 111 new problems appear how long can this go on until the FDIC is broke....

[Thongkorn]

Back when the down turn of the world money problems started i predicted that the Euro would tumble in Value, and the pound would rise again , This was on another site, The problem was that the Euro is heavily subsidized and has been kept at a false value for years , the smaller EU country's cannot sustain putting large amounts of money into the monetary fund , Country's like Ireland , just do not have the vast amount of money needed to keep the Euro at its present value, Time will tell

[Eazy-Going]

Back when the down turn of the world money problems started i predicted that the Euro would tumble in Value, and the pound would rise again , This was on another site, The problem was that the Euro is heavily subsidized and has been kept at a false value for years , the smaller EU country's cannot sustain putting large amounts of money into the monetary fund , Country's like Ireland , just do not have the vast amount of money needed to keep the Euro at its present value, Time will tell

This may be the case, but the bigger, more affluent countries do have the funds to keep the Euro up there and will subsidise the smaller EU countries, they are just loving wielding all of that power at the moment and it feels good for them to get one over on the Brits and to some extent the Americans!

[IMA_FARANG]

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

The Baht is not so important in the world market... sorry to say. If it would crash, it would only benefit foreigners for more cheap living and placing their factories there for more cheap low cost labour.

As I am quite aware, having to support a Thai family that spends in Baht what I earn in Dollars, the Baht rate is not simply of "benefit to foriegners". Yes, I get more Baht for the Dollars I exchange as the dollar/Baht rate changes, but since many of the goods that are sold in Thailand are imported from other countries, and are denominated in Dollars, as the Baht/ Dollar rate varies I get more Baht, but the cost of living also increases, especially for those "imported" items.

Edited August 27, 2009 by IMA_FARANG

[badge]

There is a fallacy going around at the moment that Thailand is cheap.

Private schools

Theatre

Fine dining restaurants

Nightclubs/Bars

Imported alcohol

Imported groceries

Imported meat

Airfares

Mobile telephone/Equipment

Electrical goods

White goods

Designer clothes

Cars

...are all more expensive in Bangkok than in London, Paris or New York.

Surely even with its abundance of cheap prostitutes it doesnt warrant such an awful imbalance. (And as an aside, Im reliably informed that some CSW's in Bangkok ask for 5000THB for their custom, a similar price to many western cities apparently.)

What is cheaper are Utilities, Property rental(although incomparable), Transport and anything 'for Thais', by which I mean Thai restaurants for Thais, Thai clothes for Thais, Thai bars for Thais, Thai alcohol for Thais etc.

Im sure both lists are incomplete.

So in conclusion, if you willing to live like a local, Thailand is cheap. If you wish to continue with a western lifestyle, Bangkok is as expensive as the Worlds finest capital cities.

[flying]

Lets see 4 banks closed this weekend and 111 new problems appear how long can this go on until the FDIC is broke....

Not long when you consider the possibility of another 150 (low estimate) failing this year.

But also disturbing is their decision

Because of the surging bank failures, the FDIC's board voted Wednesday to make it easier for private investors to buy failed financial institutions.

Lets see if we can guess who this will be? Considering the profiteers of this crisis...

Oh but.....They will be held to strict rules....

Under the new rules, a buyer would need to maintain the failed bank's reserves at levels equal to 10 percent of its assets. An earlier proposal set the requirement at 15 percent.

Is that somehow better? Is that somehow any different than the requirements on the failed banks?

Finally....

"I think the public should expect the fund to go negative at some point," said Gerard Cassidy, a banking analyst at RBC Capital Markets, which has predicted that up to 1,000 banks -- or one in eight -- could disappear within three years.

Anyone have any doubts that the FDIC will cover? Personally I am sure they will as it is truly just paper at that point.

You know these numbers on this report are way off of reality too. Well I guess that is creative book keeping. I have not looked at the date that the Q2 closed but they sure did not tell the true balances after 81 banks. Their cut off date must have been back a few weeks.

[neil324]

Interesting, the election is September in Germany, that bint, cant think of her name has been hiding all the bank loses and bad news so to get re-elected. Then all the shits going to start flowing. Time will tell.

[flying]

I have not looked at the date that the Q2 closed but they sure did not tell the true balances after 81 banks. Their cut off date must have been back a few weeks.

The report is available now

Yes they close the Q2 on June 30th

That means that this report is not showing the losses of 36 banks.

36 of the 81 banks are not in this Q2 report so while their numbers do not look too

scary in the summary.The actual numbers today are far worse as the biggest failures this year are in those 36 banks not reported. When I say biggest failures I do mean so far

Report download...

http://www2.fdic.gov/qbp/qbpSelect.asp?menuItem=QBP

summary

http://www.fdic.gov/news/news/press/2009/pr09153.html

[sokal]

5555 this Market Oracle guy is funny

"My description of the NYSE is that is has become a pit for Wall Street group masturbation. Their stained hands are too much involved."

I happen to agree, that is why I am a bear.

[Naam]

There is a fallacy going around at the moment that Thailand is cheap.

So in conclusion, if you willing to live like a local, Thailand is cheap. If you wish to continue with a western lifestyle, Bangkok is as expensive as the Worlds finest capital cities.

there is a fallacy going around that Badge's claims are correct what Badge completely forgets is that a number of Farangs, e.g. my [not so] humble self live in Thailand a luxurious lifestyle which they couldn't afford in London, Paris or anywhere in Europe.

the most important factor that Badge overlooks is that i pay nothing for the above mentioned lifestyle. not only all my expenses are paid for with the income tax EURos i don't pay to Herr Steinbrueck but there is even a handsome amount left at my disposal.

[Naam]

Back when the down turn of the world money problems started i predicted that the Euro would tumble in Value, and the pound would rise again , This was on another site, The problem was that the Euro is heavily subsidized and has been kept at a false value for years , the smaller EU country's cannot sustain putting large amounts of money into the monetary fund , Country's like Ireland , just do not have the vast amount of money needed to keep the Euro at its present value, Time will tell

you have just qualified for the award certificate "...possesses a wealth of NO idea."

[Datsun240Z]

Back when the down turn of the world money problems started i predicted that the Euro would tumble in Value, and the pound would rise again , This was on another site, The problem was that the Euro is heavily subsidized and has been kept at a false value for years , the smaller EU country's cannot sustain putting large amounts of money into the monetary fund , Country's like Ireland , just do not have the vast amount of money needed to keep the Euro at its present value, Time will tell

you have just qualified for the award certificate "...possesses a wealth of NO idea."

[sokal]

" 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

I am calling BS on the Euro crashing. The ECB has interest rates higher then the Fed right now.

[sokal]

There is a fallacy going around at the moment that Thailand is cheap.

Private schools

Theatre

Fine dining restaurants

Nightclubs/Bars

Imported alcohol

Imported groceries

Imported meat

Airfares

Mobile telephone/Equipment

Electrical goods

White goods

Designer clothes

Cars

...are all more expensive in Bangkok than in London, Paris or New York.

Surely even with its abundance of cheap prostitutes it doesnt warrant such an awful imbalance. (And as an aside, Im reliably informed that some CSW's in Bangkok ask for 5000THB for their custom, a similar price to many western cities apparently.)

What is cheaper are Utilities, Property rental(although incomparable), Transport and anything 'for Thais', by which I mean Thai restaurants for Thais, Thai clothes for Thais, Thai bars for Thais, Thai alcohol for Thais etc.

Im sure both lists are incomplete.

So in conclusion, if you willing to live like a local, Thailand is cheap. If you wish to continue with a western lifestyle, Bangkok is as expensive as the Worlds finest capital cities.

Hot dog with oinions in Pattaya 25 bht

American Breakfast buffet in Pattaya 120 bht

Room with service and TV and Air con in Pattaya 450 bht

[Datsun240Z]

Pattaya, what's that? LOL

[Spee]

Lets see 4 banks closed this weekend and 111 new problems appear how long can this go on until the FDIC is broke....

Not long when you consider the possibility of another 150 (low estimate) failing this year.

But also disturbing is their decision

Also when you consider that over the last few years, the government has allowed the definition of a "bank" to be completely redefined. While many people continue to believe that most "banks" are like the good ol' Bailey Building & Loan (from "It's a Wonderful Life"), eg., they loan money at interest using their customers' deposits, with the goal of making a profit after they pay the customers' dividends, current day "banks" are nothing of the sort. Instead customers get charged exhorbitant fees for the privilege of having some place to put their hard earned money, and the bank executives play russian roulette on Wall Street with bad paper, just as in the housing debacle.

It's a bad scene when the cost of money to banks is free (yeah, what's that Fed rate again?), customers get paid peanuts for interest on savings, the FDIC is essentially bankrupt, an average white Joe with average credit can't get a $1000 loan while an illegal alien can get a $100k mortage without being vetted, and all the while the bank executives are taking high risk gambles with depositors' money.

Frankly, it would be a big joke if it weren't so deadly serious.

I used to bitch at all the global warming chicken littles in this forum, and strangely I now find myself sounding like one. If anyone thinks we have seen the worst of it, I'm sorry but I think you are delusional.

Edited August 28, 2009 by Spee

[badge]

There is a fallacy going around at the moment that Thailand is cheap.

So in conclusion, if you willing to live like a local, Thailand is cheap. If you wish to continue with a western lifestyle, Bangkok is as expensive as the Worlds finest capital cities.

there is a fallacy going around that Badge's claims are correct what Badge completely forgets is that a number of Farangs, e.g. my [not so] humble self live in Thailand a luxurious lifestyle which they couldn't afford in London, Paris or anywhere in Europe.

the most important factor that Badge overlooks is that i pay nothing for the above mentioned lifestyle. not only all my expenses are paid for with the income tax EURos i don't pay to Herr Steinbrueck but there is even a handsome amount left at my disposal.

This may come as a shock, but I wasnt commentating on your personal circumstances.

My comments are based on nominal prices.

[badge]

Hot dog with oinions in Pattaya 25 bht

American Breakfast buffet in Pattaya 120 bht

Room with service and TV and Air con in Pattaya 450 bht

People only go to Pattaya for one reason, and its not the American Breakfast!

[Naam]

There is a fallacy going around at the moment that Thailand is cheap.

So in conclusion, if you willing to live like a local, Thailand is cheap. If you wish to continue with a western lifestyle, Bangkok is as expensive as the Worlds finest capital cities.

there is a fallacy going around that Badge's claims are correct what Badge completely forgets is that a number of Farangs, e.g. my [not so] humble self live in Thailand a luxurious lifestyle which they couldn't afford in London, Paris or anywhere in Europe.

the most important factor that Badge overlooks is that i pay nothing for the above mentioned lifestyle. not only all my expenses are paid for with the income tax EURos i don't pay to Herr Steinbrueck but there is even a handsome amount left at my disposal.

This may come as a shock, but I wasnt commentating on your personal circumstances. My comments are based on nominal prices.

perhaps it comes as a shock for you that i know a few dozen people who are living in Thailand under exactly the same personal circumstances and as i am not a socialising type there must be many more. going into details as far as your list is concerned shows quite some flaws.

air fares... i fly business or first for half the price i would have to pay in Europe. "fine dining" in Munich or Frankfurt with the Mrs. and a good bottle of wine = 450-500 EURos (>20,000 Baht) are gone. where the eff and in what restaurant in BKK can i spend 20k Baht for a dinner for two?

the claustrophobic one-bedroom apartment the Mrs. owns in Kensington has the same price tag of a home with several hundred m² living area (ex land) in Thailand. try to rent a fully furnished house in London, Paris or New York including a cook, a maid and a gardener and then tell us again it's cheaper than in BKK. imported alcohol (except good wine) is not more expensive than in Europe. how often does one buy mobile phones, white goods or electrical items? once a month? locally manufactured cars are cheaper than in Europe and that applies to the running cost (road tax, insurance, fuel and maintenance) too.

i am considering issuing the award certificate "The Right Honourable Badge, Esq. possesses a wealth of no bloody idea about living cost and lifestyle in Thailand."

[sokal]

Hot dog with oinions in Pattaya 25 bht

American Breakfast buffet in Pattaya 120 bht

Room with service and TV and Air con in Pattaya 450 bht

People only go to Pattaya for one reason, and its not the American Breakfast!

So your sitting some place in Thailand with your vergin Catholic highschool sweetheart ?

[tmd5855]

Hot dog with oinions in Pattaya 25 bht

American Breakfast buffet in Pattaya 120 bht

Room with service and TV and Air con in Pattaya 450 bht

People only go to Pattaya for one reason, and its not the American Breakfast!

Why would anyone want the American breakfast, yuk.

Thai is better for breakfast, especially when kept at 98.8' degrees for the whole meal