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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.