Politics > Politics-USA > Re: American dollar "in crisis" as currency falls hard and fast, claims the fiscally-confused Canadian Roedy
| Topic: |
Politics > Politics-USA |
| User: |
"Fat, drunk, and Democrat is no way to go through life, son." |
| Date: |
25 Feb 2005 05:58:35 AM |
| Object: |
Re: American dollar "in crisis" as currency falls hard and fast, claims the fiscally-confused Canadian Roedy |
"Roedy Green" <look-on@mindprod.com.invalid> wrote in message
news:435s1198selnafbsl2fum9uqttfnc7i2nr@4ax.com...
On 24 Feb 2005 03:31:54 -0800, wrote
or quoted :
In London, the euro soared against the dollar to $1.3216, up from
$1.3065 late Monday, as the dollar sank against Japan's yen 103.87 from
105.57.
Think about what that means. Every single US penny you own, in cash,
in bank accounts, in your retirement plans ... was effectively taxed
last night by 1.5% without your permission or knowledge.
That's what the dollar's free fall is doing to you while you snooze.
That's only true if you are planning on purchasing ALL your goods, services,
fuel, and food from European sources, which of course would require you to
exchange your dollars for some foreign-based commodity or currency. Is
that what YOU are planning to do, Roedy? Many of the rest of us actually
purchase our goods, services, fuel, and food from AMERICAN sources, unlike
you apparently.
.
|
|
| User: "Komin" |
|
| Title: Re: American dollar "in crisis" as currency falls hard and fast, claims the fiscally-confused Canadian Roedy |
25 Feb 2005 06:47:19 AM |
|
|
The world community will do nothing to destabilise teh US$ ,
especially the Chinese , Chinese
centrak bank wants a stable dollar .
Chinese Central has too much US$ in reserves .
Chinese Central bank wants to hold the US$ , because the US is a very
good productive economy which can still buy lots from China.
The Euro is a new reserve currency , it will take a few more years for
the Euro to mature to become an alternative reserve currency, because
the Euro is still too new, the Euro Central bank is still very new.
The French has just issued its first 50 years government Euro bonds,
so the future stability of the Euro is still to be proven .
As for teh US$ government bonds, most investors are prefering to buy
30 years US$ bonds , not the short term 3-10 years US$ bonds.
The Koreans , the Japs , the Thais, the Australians , they all still
need to hold the US$ .
The Euro at this stage is not capable of taking over the US$ dollars as
teh international reserves currency ,
unless all the OPEC oil exporting countries insist on using the Euro as
the legal payment for oil exports .
.
|
|
|
|
|
Related Articles |
|
|
