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Euro Continues to Drop Against Major Currencies

Banana7
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SaintLouisBlues Advanced Member

SaintLouisBlues

Posted
Posted
6 minutes ago, elgordo38 said:

The destiny the life and even death of most of us is controlled by a small group from the cradle to the grave. We live the illusion of freedom. Take my generation we were told to save for our retirement and now they have abandoned us for the greater good of the greedy and the wasteful so called credit consumers. They have turned into misanthrops against us. We get no interest hardly on our "savings" no COLA nothing. If we live to long our Golden Years will truly turn into coal. 

Who are "they"? Don't tell me it's the Elders of Zion?

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elgordo38 Gold Member

elgordo38

Posted
Posted (edited)
2 hours ago, thurien said:

 

you'd better check again well after Dec14 (the Yellen Day...)

Quite your Yellen. You may be right of course then again you may be wrong. Most so called crisis lately have worked in the markets favor instead of against it as was the consensus. Yellen has pulled a lot of head fakes this year but this time she is backed into a corner and it will be the real deal along with the usual blurbs next year there will be 2 or 3 rate increases hmm. They may boost the US economy but the rest of the world will take it on the chin you know the people the US trades with. Its a lose lose situation for all. In a global community you cannot think of only your economy solely. 

Edited by elgordo38
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chilli42 Gold Member

chilli42

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Posted
On 12/5/2016 at 1:55 PM, Halfaboy said:

Re:  Time to dump GBP and Euro?

 

Dump the GBP and Euro ... but what to buy back. Singapore Dollar, US Dollar, Swiss Franc, Norwegian Krone or gold ?

 

If you are looking for stability with some upside gain, you can't beat the US$.  If you want to make some money buy a weak currency and sit on it for appreciation.  Right now the Yen is in a bit of a free fall.  Looks like a good candidate to buy and hold.  If you can't buy currency you could buy an ETF that trades in Yen bonds.

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chilli42 Gold Member

chilli42

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50 minutes ago, SaintLouisBlues said:

Who are "they"? Don't tell me it's the Elders of Zion?

 

I would guess it is the oligarchy (the ultra rich and business) that is developing in the US (in particular) and in Europe.  We are all heading back to the way things were run at the end of the 19th century.  

 

Among other disasters, pension plans will start to collapse.  As one example, the U.K. Pension Plan is massively under funded today and I see no way that it can be funded or the gap reduced without significant degradation of the program.

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12DrinkMore Platinum Member

12DrinkMore

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46 minutes ago, chilli42 said:

 

I would guess it is the oligarchy (the ultra rich and business) that is developing in the US (in particular) and in Europe.  We are all heading back to the way things were run at the end of the 19th century.  

 

Among other disasters, pension plans will start to collapse.  As one example, the U.K. Pension Plan is massively under funded today and I see no way that it can be funded or the gap reduced without significant degradation of the program.

 

Fallacy.

 

The UK with the sovereign currency, has absolutely no problem in meeting its obligations.

 

Carney can add to the 400,000,000,000 Quid of monetized government debt that he already has on his books. All this austerity is self-inflicted punishment in the UK.

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soalbundy Ruby Member

soalbundy

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2 minutes ago, tutsiwarrior said:

 

yeah...USD will jump but the thai central bank will adjust the baht accordingly....

I cant see the dollar jumping on the 14th, the markets have already priced the rate rise in at 100% certainty, it could even fall slightly if she gets to dovish about future rate hikes due to the volatile international situation. 

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fekman Apprentice Member

fekman

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Posted
6 hours ago, laislica said:

This is all an illusion for little folk like us.

FX dealers gamble with 10's of millions at a click of the mouse.

They have live exchange rates online.

They have software to ensure they make huge profits.

(Sometimes they even gamble with money they don't have!)

We don't stand a chance.

 

If you can, when an exchange rate seems favourable, then move a chunk of money to a currency where you live and spend!

Then forget about it till your spending reserves start getting too low.

There is much more to life than worrying about exchange rates IMHO.

As long as we have enough to live comfortably of course.....

 

 

Well put. Anything an 'average' Moe like us does in regard to currency moves is simply speculation. You're just as likely to be on the wrong side of that trade. I maintain a few currencies with the bulk of it in Federal Reserve Notes. When there is a violent move against one of them, I will buy or sell  5k or 10kusd, but I can't say in the long run it has helped or hurt me. Grab a few time tested currencies and sit tight. Stay diversified.

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Deepinthailand Advanced Member

Deepinthailand

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Posted (edited)

"As one example, the U.K. Pension Plan is massively under funded today and I see no way that it can be funded or the gap reduced without significant degradation of the program."

 

 

That would be the state pension you are talking about. If you were fool enough not to listen to Maggie back in the early 80's and not got yourself a good private pension, hoping to rely on the OAP handout. Then I'm afraid you only have yourself to blame. Yes I paid in all my life yes I have enough contributions to get whatever I get at 65. But I'm not reliant on it whatever pitance I get from it is better than nothing. Remember the money you put in isn't what you get back it's not Joe blogs pension pot. YOu paid for the OAP's  then. You are now relient on the youngsters working and paying into the system to fund yours. The Government will soon get rid of  the triple lock system, the OAP will soon be not enough to live on which in itself is foolish as you just go to the social and they top it up anyway. So where is the incentive to work!!!.

Edited by Deepinthailand
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Banana7 Gold Member

Banana7

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4 hours ago, soalbundy said:

I cant see the dollar jumping on the 14th, the markets have already priced the rate rise in at 100% certainty, it could even fall slightly if she gets to dovish about future rate hikes due to the volatile international situation. 

I agree the Dec. 14 rate hike is in the market now. However 2 or more rate hikes in 2017 are not in the market, there maybe 1 hike in 2017 in the market. The important point here is not just the rate hike but also the beginning of new uptrend in rates. As Trump starts the trumpets, the uptrend will accelerate.

 

The Thai banks are warning their big customers that the Thai baht will fall against USD soon. Thai borrowing costs will be increasing as the US interest rates increase. Lots of big money in Thailand is borrowed in USD.

 

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YeahSiam Advanced Member

YeahSiam

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Posted
On 12/6/2016 at 8:06 AM, 12DrinkMore said:

 

Fallacy.

 

The UK with the sovereign currency, has absolutely no problem in meeting its obligations.

 

Carney can add to the 400,000,000,000 Quid of monetized government debt that he already has on his books. All this austerity is self-inflicted punishment in the UK.

 

Yeah the country and its people should have a right to live beyond their means and escape the consequences.

It has no problem meeting its obligations ...........provided it funds them and services its debts in devalued pounds.

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12DrinkMore Platinum Member

12DrinkMore

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2 hours ago, YeahSiam said:

 

Yeah the country and its people should have a right to live beyond their means and escape the consequences.

It has no problem meeting its obligations ...........provided it funds them and services its debts in devalued pounds.

 

The people have to pay up.

 

Sovereign debt is not the same. At the moment the US is paying its debts in stronger USD's.

 

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midas Ruby Member

midas

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16 hours ago, 12DrinkMore said:

 

The people have to pay up.

 

Sovereign debt is not the same. At the moment the US is paying its debts in stronger USD's.

 

 

On what basis do you make that astonishing claim?:giggle:

 

"  The U.S debt has been higher than GDP for each of the last four year "

 

http://www.forbes.com/sites/greatspeculations/2016/11/08/20-trillion-national-debt-should-be-top-issue-in-election/3/#16fdc88b2a48

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YeahSiam Advanced Member

YeahSiam

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Posted
On 12/22/2016 at 9:47 AM, 12DrinkMore said:

 

The people have to pay up.

 

Sovereign debt is not the same. At the moment the US is paying its debts in stronger USD's.

 

You're wrong, wrong, wrong.

Sovereign debt is worse. $19 trillion of debt is outstanding and can never be repaid.

The dollar is enjoying an irrational run of strength based almost entirely on the sugar rush expectations of Trump tax cuts and stimulus.

Investors are no longer concerned about the Fed and monetary policy because they think the US Treasury & fiscal stimulus will take over the heavy lifting, the Fed will hike rates to compensate for inflation and everything will be hunky-dory.

The consequences of the idiotic monetary policies of the last 8/9 years ZIRP, QE etc still have yet to be suffered.

Who's going to buy US Treasuries when inflation is rising?

Clue" Starts with "F", ends with "d".

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12DrinkMore Platinum Member

12DrinkMore

Posted
Posted
1 hour ago, YeahSiam said:

You're wrong, wrong, wrong.

Sovereign debt is worse. $19 trillion of debt is outstanding and can never be repaid.

The dollar is enjoying an irrational run of strength based almost entirely on the sugar rush expectations of Trump tax cuts and stimulus.

Investors are no longer concerned about the Fed and monetary policy because they think the US Treasury & fiscal stimulus will take over the heavy lifting, the Fed will hike rates to compensate for inflation and everything will be hunky-dory.

The consequences of the idiotic monetary policies of the last 8/9 years ZIRP, QE etc still have yet to be suffered.

Who's going to buy US Treasuries when inflation is rising?

Clue" Starts with "F", ends with "d".

 

Private debt, when it goes into default, collapses the finance system. Private sector debt was the cause of the financial crisis. The high interest rates suck money out of the consumers, and at some point there has to be an end to the amount of consumer purchases pulled forward into the present. Unless inflation  takes a hold, which will please the banks but collapse the currrency.

 

The USA has the privilege of having the world's reserve currency. That is unlikely to change, the two main contenders are looking a little sick at the moment. There will always be takers for USD Treasuries, they are essential to keeping liquidity flowing around the globe.

 

QE was the correct policy for staving off a global financial collapse in liquidity, ZIRP was put in place to hold up asset prices for the same reason. But I agree that both have gone on too long and "tapering" should have commenced a few years ago. The Fed was being very cautious.

 

Inflation in the current global economy is something that I do not think is well understood. I certainly do not. Why should base prices fundamentally rise year on year? The banks like it because nominal wage increases allow the debts to be paid off more easily.

 

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12DrinkMore Platinum Member

12DrinkMore

Posted
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9 hours ago, midas said:

 

On what basis do you make that astonishing claim?:giggle:

 

"  The U.S debt has been higher than GDP for each of the last four year "

 

http://www.forbes.com/sites/greatspeculations/2016/11/08/20-trillion-national-debt-should-be-top-issue-in-election/3/#16fdc88b2a48

 

There is a constant rollover of matured debt into new debt. The redeemed old debt is repaid with USD's that have more purchasing power than the old ones. Although the total amount of debt is climbing.

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soalbundy Ruby Member

soalbundy

Posted
Posted
On 12/22/2016 at 4:47 PM, 12DrinkMore said:

 

The people have to pay up.

 

Sovereign debt is not the same. At the moment the US is paying its debts in stronger USD's.

 

I rather thought that the US is paying the interest on its debts but not paying off the debt itself, in fact they are adding to it like most Western countries. I find it funny when they say they are making progress because they are reducing the amount of new debt that they are adding to the pile.

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