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Bush's \$ scheme?

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posted on Dec, 4 2004 @ 12:12 PM
£1 = \$1.94

Not far from the \$2 which will be a record low for the US?

I have a friend who is going to open up a bank account in \$. He believes he will profit from it when the \$ will rise again. Say he put £10000 and exchanged it to \$20000. If the \$ became \$1.8, he'd make a profit £1111.12 for example.

Is the dollar ever going to rise or will it collapse? I believe it will collapse. If you think about it, what if this is Bush's scheme to grab money off other countries? Im sure theres loads of people thinking this is an opportunity?

However if people do mistake the \$ for ever rising again, then they will lose out?

posted on Dec, 4 2004 @ 12:18 PM
You have a very smart friend. How long do you think he will be willing to wait for the dollar to rise. This is not by any means a get rich quick scheme. Truth is there is no guarantee that the dollar will rise or the pound will drop.

posted on Dec, 4 2004 @ 01:11 PM
also, bush in return is making the \$ low so his contry's debt will decrease as well. i think this is very risky if it was real but no one knows the truth do they?

posted on Dec, 4 2004 @ 03:09 PM

Originally posted by Channy
£1 = \$1.94

Not far from the \$2 which will be a record low for the US?

I have a friend who is going to open up a bank account in \$. He believes he will profit from it when the \$ will rise again. Say he put £10000 and exchanged it to \$20000. If the \$ became \$1.8, he'd make a profit £1111.12 for example.

Is the dollar ever going to rise or will it collapse? I believe it will collapse. If you think about it, what if this is Bush's scheme to grab money off other countries? Im sure theres loads of people thinking this is an opportunity?

However if people do mistake the \$ for ever rising again, then they will lose out?

GDP growth rate of UK=2.2% at \$1.666 trillion
GDP growth rate of US=3.1% at \$10.99 trillion

I don't see the US dollar collapsing. Russia and China have a higher growth rate than the US. The greater question is will we see the collapse of the Euro, a form of currency the Brits may soon be seeing. Most EU nations have steadily growing unemloyment, lower growth rate than the US, and in some cases a negative growth.

posted on Dec, 4 2004 @ 04:10 PM

GDP growth rate of UK=2.2% at \$1.666 trillion
GDP growth rate of US=3.1% at \$10.99 trillion

I don't see the US dollar collapsing.

Maybe I was too unrealistic. Im probably got confused a little. I was talking about foreign exchange. I dont think its just the £ to \$ exchange rate. The \$ is becoming more worth when exchanging any currency to \$. Its just how far? Whether it goes down to £1 for £3, I just saying that the US is still big and if it does later on exchange for less then there is a money making scheme for us. However I meant to say that I dont see it exchanging for any lesser than it can be.

To open a bank account in \$ though, doesnt it need to be a US bank? If so, that could also mean funding the US economy as well if a load of people decided risk profiting.

How is foreign exchange regulated? Who sets the standards? Im not really knowledgable in the background.

posted on Dec, 6 2004 @ 11:26 AM
so, is anyone else on ats going to do this? works only if your own currency is not \$

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