It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

US Dollar hits all-time low against Euro

page: 2
0
<< 1    3  4  5 >>

log in

join
share:

posted on Nov, 5 2004 @ 02:16 PM
link   
Time for me to be selfish. This is absolutley brilliant news! I intend visiting the US at some point in the near future. Time for some great bargin shopping




posted on Nov, 5 2004 @ 02:16 PM
link   
The dollar should rebound by mid next week, but don't expect it reach highs for another few weeks after that. (just my opinion)

You can make alot of money right now if you know what you're doing in the forex. In and out, take the profits while you can.



posted on Nov, 5 2004 @ 02:23 PM
link   

Originally posted by ShadowXIX
Really what type of computer are you using right now? What type of processors is in it?


- As far as I can tell it's all far-eastern manufacture.

(and don't complain to me if you guys have so grossly internationalised your companies/corporations that a genuinely 'American company or corporation' no longer exists. Your fault, not mine.

Your version of capitalism - and let's not forget there are several different 'versions' out there - prefers to discard the idea of responsibility to nation or nationality...so be it, reap what you sow.)


If you ever travel by plane what type of plane do you fly in?


- Oh come on Shadow, you should know by now, I'm a European so I make a point of flying Airbus given half a chance!

Sorry but I do, I prefer the safety, comfort and lower fares that result from the much more modern design.








[edit on 5-11-2004 by sminkeypinkey]



posted on Nov, 5 2004 @ 02:45 PM
link   

Originally posted by sminkeypinkey


- As far as I can tell it's all far-eastern manufacture.


Sorry but I do, I prefer the safety, comfort and lower fares that result from the much more modern design.


[edit on 5-11-2004 by sminkeypinkey]


I highly doubt your IBM processor is made in the far east as IBM has built a new $3 billion semiconductor facility in New York. Im going out on a limb I know thinking your using a IBM processor though.



posted on Nov, 5 2004 @ 02:53 PM
link   
Europeans openly protest against Bush, but are secretly celebrating his re-election. Euro will grow stronger in the next few years, dollar will fall. At least thats the current prediction.

IMO, it is too early to celebrate. We live in a very unpredictable world.
But it does seem that several things are in our favor.
First, consumers confidence, a thing that drives the world economy. in 1999 everybody WANTED to buy american products, everyone wanted their third world companies to be bought by american companies etc, etc. Today people prefer germans, french, dutch, they DONT WANT americans.
The real money is in heavy industry, military contracts, chemicals, oil, pharmacy. EU is taking more and more of what used to be american supremacy of the market.

If Bush continues his "screw you all" policy, OPEC will switch to Euro and that is not good for already weak dollar.

Another thing not to be neglected is China, the fastest growing economy in the world. Recently, away from mass media exposure, german chancelor has been negotiating with China, it is very much possible that some kind of trade union is in the making. I think there was some talk about military contracts, as I said, thats where the big money is. Also, you might remember the EU offer to Iran to build the nuclear reactor. EU is now venturing into countries that don't want USA anymore.

At the same time, USA still wants products from China, they are still massively outsourcing jobs to India, South East Asia etc, etc.

It is a risky thing EU is doing. The global market is still tied a lot to situation in USA, they still hold a lot of global investments, too weak dollar, too weak USA economy, before EU has strenghtened theirs enough, could mean a global depression and thats about the last thing we need.



posted on Nov, 5 2004 @ 03:03 PM
link   

Originally posted by Indy
Well thats kind of the problem. Thats about the only thing we are good for. Fast food and junk. We make large cars which the rest of the world won't buy. Is there anything that we do make that the rest of the world wants?


If pot was legalized, I'm thinking there might be a nice export product


Or at very least americans would be happy to kick back and eat those yummy big macs!



posted on Nov, 5 2004 @ 03:06 PM
link   
Once the US is in complete control of central Asia and Asia Minor the other currencies won't mean much. That's the geostrat goal and it's going pretty well.

80% of world currency trading is still in US dollars. 80% of the World's national reserves are in USD. It's not going anywhere soon.



posted on Nov, 5 2004 @ 03:16 PM
link   

Originally posted by ShadowXIX
I highly doubt your IBM processor is made in the far east as IBM has built a new $3 billion semiconductor facility in New York. Im going out on a limb I know thinking your using a IBM processor though.


- Naaa, it's an AMD with a VIA m/board.

(I know AMD is originally a US company but I honestly think all my kit is China & Sth Korea and Asia generally......as far as I can tell).

You did surprise me with the IBM plant. But then surely our PC processors aren't 'semi-conductors'?



posted on Nov, 5 2004 @ 03:38 PM
link   

Originally posted by sminkeypinkey

Originally posted by mrdependable
Don't be too startled the dollar made a new low against the euro. Remember the euro is only a baby. If you convert back to deutsche mark we would need to see the euro around 1.6 for "real" new lows against the euro.


- Wow, best bit of 'spin' I've seen on this all day. Very funny too....in a sad kind of way.

Except the Euro isn't the Dm, it's all the western Euro currencies (bar a few) in one.

pinkey]


Yes the value of the euro was established from a basket of european currencies but the vast majority of the weight was given to the mark and since the mark commanded a much higher liquidity premium than the other currencies included it is conventionally used today when establishing historical euro rates outside of its trading ranges.

In the end historically the dollar is still very strong and the consensus is it needs to fall around another 20%. Closing the trade gap is not the real objective. The US will always run a trade and current account deficit. This further 20% reduction will ensure we continue to attract the capital inflows we need to cover the deficit.

While a lower dollar is very good for the US it comes at a cost to the rest of the world. They are the ones who must absorb our debt so it has been quite difficult to get them to play ball but we are making headway. Europe and Japan have conceeded and when China revalues it will help us out alot. Hence the importance of Taiwan as a bargaining chip right now.



posted on Nov, 5 2004 @ 03:59 PM
link   
The Dollar is not strong, America is in an Economical sh*t hole, it would take the next jesus to get it out of the hole its in now, America owes BILLIONS of dollars to countries everywhere who have invested in America, by providing money, eg - Britain, Japan... etc

With the Dollar falling and becoming more and more useless, this does not help America at all, America uses very wasteful methods of making and using things, and uses fuels in power plants that are extreamly harmful to the enviroment (the key one being COAL) and does america care? does it hell!!



posted on Nov, 5 2004 @ 04:18 PM
link   
Its too bad that people have to elect politicians to run the worlds biggest company, the USA. If you really think about it why would people choose a leader that has bankrupt everything he has ever touched? Maybe Bill Gates or Steven Jobs should run the country. At least somebody that knows that spending more than you bring in doesn't work. I have read people saying that this is good for Canada blah blah blah. This is terrible for Canada, our economy is directly linked to that of the USA. If they go down they will take us with them eventually. If our dollar continues to raise against theirs business will start to leave Canada. We are an export country and people don't buy over priced items and just wait for inflation.

GOD DAMN PEOPLE WHO THE HELL VOTED FOR THIS IDIOT????

How can an entire country be so blind? Bush will bleed every last cent out of the USA for his buddies. America is like an abused wife that continues to go back for more abuse. Your going to screw us all!!!!!!!!!



posted on Nov, 5 2004 @ 04:32 PM
link   

Originally posted by sminkeypinkey


You did surprise me with the IBM plant. But then surely our PC processors aren't 'semi-conductors'?


Yeah I just really found out about the plant its where they will be making the next-generation G5 chip. Seems like it will be a nice chip too.

www.pcworld.com...



posted on Nov, 5 2004 @ 04:53 PM
link   
Umm, the topic CLEARLY says US Dollar Hits the All time Low, this means talking about world econamy realated with AMERICA, NOT whatever the fcuk your on about!



posted on Nov, 5 2004 @ 04:56 PM
link   
Good time for Asian investment in the US and corporate raids too.

God Bless America, and Bush, and crony capitalism, and fraud, and public apathy.



posted on Nov, 5 2004 @ 05:15 PM
link   

Originally posted by ShadowXIX
Yeah I just really found out about the plant its where they will be making the next-generation G5 chip. Seems like it will be a nice chip too.


The G5 chip will be for Apple computers, which only has a 2.1% share in the market. The two giants are AMD and Intel. I have an AMD chip which was made in Malaysia. Intel has manufacturing plants around the world, including California, New Mexico, India and a few other countries.

(I do agree about the G5 chip though, can run 64 and 32 bit apps and if they can get a decent OS out to support it, we could be looking at a true competitor to the all-powerful PC)



posted on Nov, 5 2004 @ 05:18 PM
link   
WILL U NOT SHUT UP ABOUT COMPUTER BITS!!! ARGH We are talking about ECONOMICS - That are Related to America



posted on Nov, 5 2004 @ 06:53 PM
link   

Originally posted by The_Squid
WILL U NOT SHUT UP ABOUT COMPUTER BITS!!! ARGH We are talking about ECONOMICS - That are Related to America


Calm down what companies there are in America have to do with the economics of the US.



posted on Nov, 5 2004 @ 08:15 PM
link   
This is getting a bit out of hand folks, so let's all calm down a bit.

For once I agree with Pinkey, the problems with the US economy come from a number of different fronts not easily boiled down to quick explinations, but that is all the time we have isn't it?

Oh well.

America is hurting, but mainly from the inside. The new world Fiat system is bound to crash at some point, as we continue to fail to address the problems internally.

Our taxes are too high.
Our job rate is ok, but the money pulled off those jobs isn't great overall.
The trade deficit needs attention.

Big Problem:
The US Merchant Fleet is hurting. Having worked on Merchant ships, I can say that the US Flag industry and ship building industry is heavily subsidised by the government, and the regulations and taxes are killing the last bits of it.

Much can be said for the Steel industry, Farming, etc. Our industry is dying while we move things to countries without the rediculous inflation we enjoy over here in America.

The government needs to clear oceans of red tape for the banking industry, small business, health care (which is something of ours that is still kicking really well), developement, etc.

We need to stop funding these things, and begin to allow them to do it on their own.

That is the strength we had, and are losing.

Outside of America is a whole other conversation.



posted on Nov, 5 2004 @ 08:47 PM
link   
OK, one thing that could really hit the US is the repricing of oil in a currency other than the dollar. Right now, the US can get it's oil 'for free' by printing money to pay for it. Since oil is priced in dollars and the only country legally allowed to print dollars is the US, this gives them a massive advantage in economic terms.

See this article for a more detailed explanantion:

www.feasta.org...

Recently, Putin has spoken about pricing Russian oil in euros and around 2001, the 'islamic dinar' was launched by Malaysia with the intention of creating a currency in which the entire islamic world would trade.

Info on the islamic dinar:

www.yementimes.com...

The only way realistic way for OPEC to price it's oil in euros would be for Brent Crude to switch to euro pricing. The most likely scenario in which this could happen would be the UK adopting the euro as it's currency (there are no foreseen objections from Norway). This would open up the way for OPEC to begin to price it's oil in euros, as some members have already advocated, most notably, Iran and Venezuela, both of whom have suffered US interference since this possibility came to light.

A switch away from the dollar as the reserve currency of choice would decimate the US economy. This is actively being discussed among the governments of the world and yet, very few americans I have spoken to have heard of the issue, and if they have, have dismissed it as 'never gonna happen'.


"The Federal Reserve's greatest nightmare is that OPEC will switch its international transactions from a dollar standard to a euro standard. Iraq actually made this switch in Nov. 2000 (when the euro was worth around 82 cents), and has actually made off like a bandit considering the dollar's steady depreciation against the euro. (Note: the dollar declined 17% against the euro in 2002.)


good link to explain it:

pages.zdnet.com...

They are thinking about this:

www.atimes.com...

and here's what the US govt has been doing about it:

www.globalpolicy.org...



posted on Nov, 6 2004 @ 12:41 AM
link   
good to see that deficit spending working wonders. reaganomics in full effect. if you really want to stop this deevaluation of the us dollar, just stop letting the federal reserve print fiat money. give that power back to the treasury where it will actually be backed by something. that is if that's what you want.




top topics



 
0
<< 1    3  4  5 >>

log in

join