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Dollar is going down

Canuck

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EURO oil
and euro everything is coming faster then anyone can believe

The American way of life hangs in the balance ,and isn't going to be pretty


there will be hell to pay

Bill Gates
Dumps Dollar For Euro
Bloomberg News
10-20-5

The dollar's downward trend has not been broken since I wrote a column about the subject in December. In fact, the trend seems to be accelerating. Bill Gates openly stated yesterday he is pulling out of the dollar and is instead investing in euros. Microsoft's co-founder has made many mistakes in the past (I write this on an Apple computer, so I may be biased), but this is a wise move, indeed. He's probably not the last one to pull out of the U.S. currency.

Bill Gates, whose net worth of $46.6 billion makes him the world's richest person, is betting against the U.S. dollar.

"I'm short the dollar, Gates, chairman of Microsoft Corp., told Charlie Rose in an interview late yesterday at the World Economic Forum in Davos, Switzerland. "The ol, dollar, it's gonna go down.

Gates's concern that widening U.S. budget and trade deficits are undermining the dollar was echoed in Davos by policymakers including European Central Bank President Jean-Claude Trichet and German Chancellor Gerhard Schroeder.

The dollar fell 21 percent against a basket of six major currencies from the start of 2002 to the end of last year. The trade deficit swelled to a record $609.3 billion last year and total U.S. government debt rose 8.7 percent to $7.62 trillion in the past 12 months.

"It is a bit scary, Gates said. "We're in uncharted territory when the world's reserve currency has so much outstanding debt.

Bloomberg


one by one the ELITE shift to the EURO while they get the poor Americans to fight in IRAQ .Pretty sad state
EURO~OIL and everything else IS GOING EURO
IF YOU ARE SMART YOU WILL MAKE sure all your assets are in euros
I just bought gold and stks I suggest you all follow Bill and I
The $ is indeed going to take a big hit
 

oldreliable67

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lehman Says Go Long Dollar...

Here is another opinion...

Lehman Says Prospect of Further Fed Rate Rises Will Buoy Dollar


Oct. 21 (Bloomberg) -- Lehman Brothers Holdings Inc. advised boosting bets on the dollar in anticipation of the Federal Reserve increasing interest rates to prevent inflation from accelerating.

``We think the underlying momentum in the Fed policy story warrants more explicit long dollar exposure,'' wrote James McCormick, Lehman's London-based head of global currency research, in a report yesterday. A long dollar position is a wager the currency will advance.

Lehman, the fourth-biggest securities firm, said it is adding to bets that the Canadian dollar will rise versus the euro, and maintaining similar bets on the Norwegian krone, as it expects policy makers in those countries will also raise rates.

The U.S. currency has gained about 13 percent against the euro this year as the Fed has lifted its target rate seven times to 3.75 percent while the European Central Bank has kept its rate at 2 percent for more than two years.

http://www.bloomberg.com/apps/news?pid=10001096&sid=a4F3qDnQsQiQ&refer=world_currencies
 

Iriemon

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Re: lehman Says Go Long Dollar...

oldreliable67 said:
Here is another opinion...



Oct. 21 (Bloomberg) -- Lehman Brothers Holdings Inc. advised boosting bets on the dollar in anticipation of the Federal Reserve increasing interest rates to prevent inflation from accelerating.

``We think the underlying momentum in the Fed policy story warrants more explicit long dollar exposure,'' wrote James McCormick, Lehman's London-based head of global currency research, in a report yesterday. A long dollar position is a wager the currency will advance.

Lehman, the fourth-biggest securities firm, said it is adding to bets that the Canadian dollar will rise versus the euro, and maintaining similar bets on the Norwegian krone, as it expects policy makers in those countries will also raise rates.

The U.S. currency has gained about 13 percent against the euro this year as the Fed has lifted its target rate seven times to 3.75 percent while the European Central Bank has kept its rate at 2 percent for more than two years.

http://www.bloomberg.com/apps/news?pid=10001096&sid=a4F3qDnQsQiQ&refer=world_currencies
Damn, I knew it was a mistake following Gate's lead and dumping my $$ for those euros. ;)
 

Simon W. Moon

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I shifted my saving out of dollar-valued items on late 2003. I've made better than 20% return since then. Not really that my investments have increased in value, just that the dollar has lost so much since then that it looks like I made a killing.
 

128shot

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For all theoritcal purposes, this should be only temporary, if we bounce back on our debt, we'd smash the Euro.
 

Simon W. Moon

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128shot said:
For all theoritcal purposes, this should be only temporary, if we bounce back on our debt, we'd smash the Euro.
As soon as the supposedly "conservative" crew we've got gets out of the White House perhaps we can do something about our debt.
 
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