Dollar starting to hit historic lows

[royalfan5]

http://www.cnbc.com/id/19684373

The Euro is at an all-time high vs. the dollar, and the Pound is at it's highest point in 26 years. While the weak dollar is great for exporters, it does pose some problems for the rest of us. Also, if the value of the dollar continues to erode, the Euro may begin to supplant the dollar as the international currency of choice, which could have serious ramifications for us.

[JohnnyMack]

http://en.wikipedia.org/wiki/Iranian_Oil_Bourse

The Iranians have been pushing for an Oil Bourse that is aimed at devaluing the dollar for years now. They're not having as much success as they had hoped, but I don't think it's completely dead.

[TUSooner]

Looks I picked a good year to not able to afford to go to Europe anyway. :rolleyes:

[Chuck Bao]

There is so much money sloshing around the world, it's getting scary.

Currency traders and hedge funds, in particular, are the debils, IMNSHO.

Providing liquidity to offshore currency markets is good up to the point that herd instinct and over-shooting just creates too much volatility.

I never trust what any currency trader is saying beyond a 24-hour period.

I'm still totally ****ed about the Asian economic crisis started by hedge funds attacking Thailand 10 years ago.

Odd that the baht is now strengthening back to around 34 baht against the dollar, compared to 25 baht to the dollar pre-1997. With Thailand's large trade surpluses (even without the speculative capital flows), we could very well see 25 baht to the dollar. I was just talking with the Bank of Thailand (US Federal Reserve equivalent) about it this evening.

So, I'm getting a pay rise. Heh!

[jeremy885]

See the country at the bottom of the list. This is the main reason why the $ is losing ground.

http://en.wikipedia.org/wiki/List_of_countries_by_current_account_balance

[NormanPride]

Yeah, I think reducing the national debt is a priority to me. I mean, how many hundreds of thousands of other little things would that fix?

[RUSH LIMBAUGH is my clone!]

That gol-durned, no account, dumb POTUS, anyway. What a shameful mess he's caused.

[Chuck Bao]

I've said it countless times and now once more, Clinton should be blamed for allowing China to devalue their currency in the mid-90s. That was just stupid.

[JohnnyMack]

No, this isn't W's fault. There are so many systemic failures we as a nation have made since the end of WWII that we have no one to blame but our own ego.

[Chuck Bao]

No, this isn't W's fault. There are so many systemic failures we as a nation have made since the end of WWII that we have no one to blame but our own ego.

Heh! That's a weird spin on it. It isn't the politicians, it's US!

[JohnnyMack]

Heh! That's a weird spin on it. It isn't the politicians, it's US!

Well, we voted for them, so yeah, I guess so.

[GrapevineSooner]

At least the weakened dollar helped strengthen the Canadian dollar and push revenues in the NHL up. ;)

[Chuck Bao]

Well, we voted for them, so yeah, I guess so.

Yeah, that's sort of depressing and liberating and then depressing all over again.