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NEWS: Dollar Under Fire

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posted on Mar, 10 2005 @ 08:25 PM
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Anyone that has even taken a glance at the financial pages of the news these days has heard the same thing: The dollar is losing its value versus other currency. But, what does this mean? Does it mean that you need to turn in all your dollars for those old gold and silver coins? Does it mean you have to diversify your stock portfolio? Or is it just a sign that the rest of the world joining together to balance the monetary power of the world? The world is changing and so is the world economy. The change is into a world economy. The dollar however is suffering under the pressure of multiple economic "unions"
 



www.reuters.com
The dollar extended its slide against most currencies on Thursday on concerns over global central bank reserve diversification, a widening U.S. trade deficit and this week's dive in bond prices.

Having slumped to multi-month lows against its major counterparts on Wednesday, the dollar suffered another blow on Thursday after Japanese Prime Minister Junichiro Koizumi told parliament that, generally speaking, diversity in foreign exchange reserves was a good thing.

The Ministry of Finance, which manages the world's largest foreign reserve holding of $840.6 billion, quickly clarified that it has no plans to shift funds out of the dollars.


Please visit the link provided for the complete story.


The dollar is still strong. However when you are the Michael Jordan of the financial world, it's easy to beat anyone, one on one, but when you face the EU and other multi-national financial pacts, things become more challenging. The glory days of the dollar didn't always exist and neither would they last forever. China is slowly becoming a viable threat for the top economic spot in the world. But I personally do not feel that the Euro is any threat to the dollar in the long run. Gathering together a group of weak economies does not make a strong one. Germany has the highest unemployment rates since 1933. Also: " In December, Germany had the second highest unemployment rate after Spain among the 12 countries that share the euro, at 10 percent on a comparable basis. The rate in France was 9.7 percent. In the U.K., the latest available comparable rate is 4.6 percent for October." (Bloomberg, see links at bottom.) The dollar in my opinion will bounce back the way that the market has done since the 2001 Internet Bubble bust. Trends come and go but the slow growth standards are the best idea when it comes to financial wealth. Patience is a virtue. According to Ayn Rand, so is selfishness...

Related News Links:
www.bloomberg.com

[edit on 10-3-2005 by CAConrad0825]




posted on Mar, 10 2005 @ 08:27 PM
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It's not the dollar I'm worried about its the National Dept...



posted on Mar, 10 2005 @ 08:28 PM
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Sorry sorry sorry I hit the wrong button I meant to vote yes



posted on Mar, 10 2005 @ 08:29 PM
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better contact a mod quickly.

[edit on 10-3-2005 by sardion2000]



posted on Mar, 10 2005 @ 08:42 PM
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It's not the dollar I'm worried about its the National Dept...


Which National Dept. are you concerned about?



Introduction Paragraph

When you use the ATSNN submission form, the first paragraph must be a properly formatted full paragraph of your own words. This is the content seen on the front-page of the ATSNN website. If the format is incorrect, you've only submitted one or two short sentences, or you've copied material from the story, your submission will not be upgraded.
This first paragraph should portray just the facts of the story in an objective and unbiased way and not your opinion.

www.abovetopsecret.com...



[edit on 05/3/10 by GradyPhilpott]



posted on Mar, 10 2005 @ 08:44 PM
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Heh
sry as in money owed to foriegners


[edit on 10-3-2005 by sardion2000]



posted on Mar, 10 2005 @ 09:52 PM
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quoteGradyPhilpott:

quote:
Introduction Paragraph

When you use the ATSNN submission form, the first paragraph must be a properly formatted full paragraph of your own words. This is the content seen on the front-page of the ATSNN website. If the format is incorrect, you've only submitted one or two short sentences, or you've copied material from the story, your submission will not be upgraded.
This first paragraph should portray just the facts of the story in an objective and unbiased way and not your opinion.

www.abovetopsecret.com...

It is not my own opinion. I am trying to give an introduction about the article that is unbiased and gives all points of what the US economy is facing at the moment. This is a paragraph as approved by multiple college professors including one with a doctorate in English. I apologize for any offense, however I feel that there are bigger issues than formatting to be tackled on ATS. What about the one liner respsonses (which i have done many times)?

This is for response to the article posted and my analysis (Paragraph 3). Please stick with the topic. Leave the moderating to the moderators. If you are not a mod or admin, just contribute to the subject don't be the babysitter of the thread.

[edit on 10-3-2005 by CAConrad0825]



posted on Mar, 10 2005 @ 11:47 PM
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I got it for you worldwatcher.......

Economics is a funny thing......the dollar has encountered these difficulties before and will again. I hate to simplify so much, but I tend to wonder about the subjective nature of our currency when the word of one man, Allen Greenspan, can have such an effect at times.......who's to say there isn't a carefully constructed bias? I too can create a decent logic arguement designed to describe future trends of our financial system......

[edit on 10-3-2005 by MemoryShock]



posted on Mar, 11 2005 @ 07:51 AM
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I think that it is funny how people say that so much power rests in the hands of the president when it does not. It doesn't even fall in the hands of any main branch of our federal government. Greenspan is the most powerful man in the world and yet people blame all of our economic problems/successes on the president and legislature. I think people need to take a government quiz before they vote...just a thought.



posted on Mar, 11 2005 @ 09:01 AM
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CAConrad0825 - Isn't it interesting how Greenspan isn't an elected official? That's power that, I believe, is held for his career......



posted on Mar, 11 2005 @ 10:46 AM
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Very funny indeed. A dictator in charge of democracy. Best way to run certain aspects of government (i.e. Military)



posted on Mar, 11 2005 @ 10:56 AM
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Originally posted by CAConrad0825
The glory days of the dollar didn't always exist and neither would they last forever. China is slowly becoming a viable threat for the top economic spot in the world. But I personally do not feel that the Euro is any threat to the dollar in the long run. Gathering together a group of weak economies does not make a strong one. ....


....The dollar in my opinion will bounce back the way that the market has done since the 2001 Internet Bubble bust. Trends come and go but the slow growth standards are the best idea when it comes to financial wealth. Patience is a virtue. According to Ayn Rand, so is selfishness...


The Euro economes might have have higher unemployment but they are still a challenge to the US. The combined GDP of the EU is higher the than GDP of the US so several weak economies to make a strong one. There are still some nations in the EU who don't use the Euro but many of those nations are making the switch soon.

I don't know if the US dollar wil ever bounce back to it's previous levels.
It has bounced back in the past but it never had to contend with the Euro before.

The slight comeback the dollar had earlier in the year has already been erased and it looks as though the Euro might be headed towards a news all-time high.

At the time of this post EUR/USD is at $1.3468



posted on Mar, 11 2005 @ 11:07 AM
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Yes Memory-Shock you are Correct - Allen Greenspan & his Fellow Federal Reserve Governor Peers are the BIGGEST TRAITORS to the U.S.A. ever! The President has no Real Power - well except being the Head of the Military! Clinton Totally SOLD out to these "FED" JERKS during his Second Term! People are WORRIED about the "NWO" - let me tell you what the REAL source is - have you notice how starting with the 1996 Series of Cash Notes it started to look more & more like a EUROPEAN CURRENCY? Yep you guessed right - the
*GLOBAL BANKERS* are Large & in Charge & they are HEADQUARTED in Europe. The "FED" is in-fact a
FORIEGN PARASITIC ENTITY! Look into the I.M.F! Do you want to know why the Dollar is doing so Poorly - because it is BACKED BY NOTHING! Well maybe that’s were President Bush (and his Trigger Happy Invasions) & the Free Market step in - Perhaps our "U.S. Dollar Economy" is backed by OIL - that is why the Price of OIL is so Important! Remember U.S.A. is a Democracy (HA, HA, HA, - Yeah Right) - a Democracy with an Economy Driven by FAKE "Real Money" - which nonetheless has a TREMENDOUS IMPACT on the Political Process!

[edit on 11-3-2005 by Seraphim_Serpente]

[edit on 11-3-2005 by Seraphim_Serpente]



posted on Mar, 11 2005 @ 04:51 PM
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EU challenges the dollar with GDP and GNP? LOL I remember people saying the same argument about the Internet bubble...I smell another collapse and Y2K Scare coming....I'm getting my water and Ramen noodles ready. That is if those college kids don't beat me to them....


PS. How many nations does the EU have in it? That's how many it takes to beat one nation...kinda sad. But, like all coalitions that means that you have that many more chances of conflicting opinions and Italy already seems to be POED at the EU because like most Unions, the strong have to carry the weak. That's why the EU is doing well. I give the EU about 10-15 years. Same in my opinion with the UN. League of Nations anyone?

[edit on 11-3-2005 by CAConrad0825]



posted on Mar, 11 2005 @ 09:28 PM
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Originally posted by Seraphim_Serpente
Yes Memory-Shock you are Correct


*sigh*

Somehow, it never gets old......


Seriously though......


Originally posted by Seraphim_Serpente
Do you want to know why the Dollar is doing so Poorly - because it is BACKED BY NOTHING!


Not a new concept.....America actually started it's economy with iou's and a great idea.......


Originally posted by Seraphim_Serpente
Remember U.S.A. is a Democracy (HA, HA, HA, - Yeah Right) - a Democracy with an Economy Driven by FAKE "Real Money" - which nonetheless has a TREMENDOUS IMPACT on the Political Process!


Nice system, huh?



posted on Mar, 11 2005 @ 10:02 PM
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The Dollar losing value hurts Japan and to a lesser extent China, more then America.

If the Dollar devaluates substantially, the bonds that Japan and China has becomes much less valuable, which is why they are diversifying into the Euro.



posted on Mar, 11 2005 @ 10:37 PM
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However China is not going to diversify too much so as not to lose #1 trade status with the US. European consumers will never be able to take up the slack the would be left if the US didn't trade with China so at this point China is still in America's hands trade wise. Also, watch the Euro. As more job numbers come in the price will fall. Treasury markets work on hype just like any other investment. Soon reality will set in and it will all fall down.

Something about 6 weeks vacation, plus sick days and numerous holidays do not really make for good productivity. Also if you look into it many countries are leaving Europe because of huge overhead costs. I smell an investment bubble about to burst.



posted on Mar, 11 2005 @ 10:46 PM
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Ok lets talk really diversifying.

Are there any others apart from the Dollar and the Euro?

What about the Yen, Pound, or the Australian Dollar? I think the Australian Dollar is a strong and "safe" currency in the current market.



posted on Mar, 11 2005 @ 11:03 PM
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Originally posted by AceOfBase
The Euro economes might have have higher unemployment but they are still a challenge to the US. The combined GDP of the EU is higher the than GDP of the US so several weak economies to make a strong one. There are still some nations in the EU who don't use the Euro but many of those nations are making the switch soon.

I don't know if the US dollar wil ever bounce back to it's previous levels.
It has bounced back in the past but it never had to contend with the Euro before.

The slight comeback the dollar had earlier in the year has already been erased and it looks as though the Euro might be headed towards a news all-time high.

At the time of this post EUR/USD is at $1.3468


Yep, AceOfBase, perhaps that the already overvalued Euro will keep right on climbing, eh? The higher it goes, the worse it will make conditions in Europe. Unemployment will continue to rise, company profits will continue to decrease, and individual EU nations will continue to have sluggish to dismal (flat-line) GNP and growth numbers. At the same time, the US will continue to enjoy low unemployment and and an increasing growth and GDP.
Euro firms protest dollar's slide
Is the Euro overvalued?
Goods and Bads of an Overvalued Euro
German jobless rate at new record
European Economies: German Jobless Rise to Record

Questions: Just what is the Euro doing for those EU nations, exactly? Wouldn't a strong Euro be making things better than worse for those European nations?




seekerof

[edit on 11-3-2005 by Seekerof]



posted on Mar, 11 2005 @ 11:11 PM
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A strong Euro aggravates Europe's trade issues relating to exports.

Especially since the Chinese Ren is fixed to the Dollar, if the Dollar weakens, Europe is hit with a double whammy.



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