Dollar

Discussion in 'Politics, Religion, Social Issues' started by dog24, Mar 17, 2008.

  1. dog24 macrumors member

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    Estonia
    #1
    The dollar is sinking, anyone has any idea how low can it go and what can happen? I make most my income from US even though I do not live there, since the dollar is very unstable and there are a lot of rumors going on about dollar collapse, I was wondering is it time to move my business to UK?
     
  2. PowerFullMac macrumors 601

    PowerFullMac

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    Oct 16, 2006
    #2
    Well, the pound is a very strong currency at the moment... I would say to wait and see what happens though, the dollar may not collapse.
     
  3. MacNut macrumors Core

    MacNut

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    #3
    If the dollar collapses it won't matter where you put your money, everyone will be affected.
     
  4. Rodimus Prime macrumors G4

    Rodimus Prime

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    Oct 9, 2006
    #4
    very true. If the dollar collapses most of the word is screwed. Almost all the debt in the world is in US dollars. The US has the advantages that all the money it borrows is in dollars not some other currancy so if the dollar collapses that means the debtors get screwed.

    So it is in the best interested of the world not to let that happen.
     
  5. Teh Don Ditty macrumors G4

    Teh Don Ditty

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    #5
    The Dollars decline is going to get worse IMHO. With all that is happening right now, it is certainly not helping.

    The Pound, Euro, Swiss Franc and Canadian Dollar are all worth more that a US dollar at the moment (with the Pound and Euro have been for a while now).

    As Rodimus Prime mentioned, it would not be in the best interest of the rest of the world if the dollar collapsed.
     
  6. mcarnes macrumors 68000

    mcarnes

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    #6
    Better spend your money on home defense fire arms. You're going to need them when all the rioting starts.
     
  7. nikopolidis macrumors regular

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    Dec 21, 2007
    #7
    Dollar collapse means collapse of US economy. But this seems to be impossible. So I'm sure dollar will stop sinking in some time. :eek:
    "Sinking" reminds me one funny commercial: http://youtube.com/watch?v=tsAfgMUHApU :D
     
  8. JW8725 macrumors 6502a

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    #8
    I hope the dollar keeps dying, so that I can buy cheap stuff from eBay.com
     
  9. combatcolin macrumors 68020

    combatcolin

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    #9
    Damn scary that millions of Americans actually think like this!

    And assault Rifles are legal again!

    "Get off ma lawn! cries the 80 year old with an M16.....:eek:
     
  10. foidulus macrumors 6502a

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    #10
    Actually, the pound is pretty weak right now(still relatively strong against the dollar, but what isn't). The euro is pushing all time highs vs. the pound, and other currencies aren't doing so bad either. The pound actually DIDNT fall against the dollar that much in the past 2 weeks, so probably not a strong currency right now.
     
  11. MacNut macrumors Core

    MacNut

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    #11
    I was listening to some talking heads on CNBC Europe the other day and they said that the British economy is heading to a recession soon as well.
     
  12. MACDRIVE macrumors 68000

    MACDRIVE

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  13. MacNut macrumors Core

    MacNut

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    #13
    Don't forget India.
     
  14. MACDRIVE macrumors 68000

    MACDRIVE

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    #14
    Does India fix the value of their currency too? :confused:
     
  15. MacNut macrumors Core

    MacNut

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    #15
    India just steals our jobs and ruins the economy.
     
  16. zioxide macrumors 603

    zioxide

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    Dec 11, 2006
    #16
    These rate cuts are just temporary fixes, they aren't going to help the economy in the long run. As long as the economy keeps going down, the dollar will too.
     
  17. MACDRIVE macrumors 68000

    MACDRIVE

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    #17
    Why can't the U.S. get back on the gold standard? For every $200 we have, we can back it up with an ounce of gold; or something like that. :confused:
     
  18. Evangelion macrumors 68040

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    #18
    What makes them "your jobs"? And how exactly do they "steal them"? By providing large pool of workforce that is willing to do the same job for less money?
     
  19. Rodimus Prime macrumors G4

    Rodimus Prime

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    #19
    even at today's value of 1000 something an ounce there is not enough gold in the world to cover how many dollars are in the world.
     
  20. miloblithe macrumors 68020

    miloblithe

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    #20
    You know, the Chinese Yuan does actually fluctuate now, within a narrow band, and is pegged to a basket of currencies, not the US dollar exclusively. Two years ago it was over 8 Yuan to the dollar. Now it's about 7.

    It's easy to blame Indians for stealing our jobs and Chinese for undercutting our manufacturers, but the fact is it's kind of unavoidable. We can't seal off the American economy from the rest of the world and survive. The fact is we consume far more than we produce. What we really need to do is buck up, work harder, and spend less.
     
  21. Caezar macrumors 6502

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    #21
    Blame the Chinese??? This is ludicrous.

    The fall of the dollar is long overdue and is the consequence of ever-increasing deficits and lax monetary policy. The US policy makers bear a large part of the responsibility in the demise of the greenback.

    The US has been living beyond its means for a generation. Your nation today has a negative savings rate. In other words, your collectively consume more than you earn.

    The Chinese, the Japanese and oil-producers have been willing to ship goods and oil against US debt, i.e. the promise to repay them with assets.

    The US will eventually have to pay these debts. Your creditors have been willing to hold on low-yielding treasury bonds for decades. They now seem to seek better returns and are investing in corporate America. This is perfectly justified.

    Don't blame the Chinese, the Japanese and the Gulf states when they start to purchase your ports, your banks and real estate.
     
  22. Prof. macrumors 601

    Prof.

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    Chicago
    #22
    So goes America, so goes the world.

    If the USA were to fall (currency wise) the world will fallow suit. Americans spend so much money on foreign products that if the dollar were to collapse, the rest of the world will collapse financially.
    Will my Walther P99 be enough? :p
     
  23. MacHipster macrumors 6502

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    #23
    No, he's absolutely correct. Just the other day, I went to work and the whole building was gone! :eek: I asked another co-worker and they said that in the middle of the night, the Indians came and stole it. First they insidiously raise their mortality rate, now this.
     
  24. miloblithe macrumors 68020

    miloblithe

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    #24
    The USA has fallen, currency wise, over the last few years, and other countries seem to be doing OK. The dollar is down what, 30% over the past 5 years?

    No, we're not going to see an overnight devaluation where the dollar loses half it's value. But we are in a clear decline. The dollar is not going to regain its value (against all other currencies in the amount lost over the last five years). If anything, it's falling further.
     
  25. stevegmu macrumors regular

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    #25
    Why do you think foreign investment is a bad thing?
     

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