This is getting to be a daily thing....

uscitizen

uscitizen

Villified User
Dollar hits new low against euro
Money changer exchanges euros for dollars
The dollar has been weakening against the euro in recent weeks.
The US dollar hit a new record low against the euro as investors sold the currency after the Federal Reserve's hefty interest rate cut.

The greenback dropped below the psychologically-key $1.40 level against the euro, deepening recent losses.

Meanwhile, the Canadian dollar reached one-to-one parity with the US currency for the first time in 31 years.

http://news.bbc.co.uk/2/hi/business/7004104.stm
 
Yep but they can buy less with their million.

The first time in 31 years that the US dollar has been equal to the Canadian dollar....
Quite an accompolishment.
 
Fears of dollar collapse as Saudis take fright

By Ambrose Evans-Pritchard, International Business Editor
Last Updated: 8:39am BST 20/09/2007

Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for the first time, signalling that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East.


Fears of dollar collapse as Saudis take fright
Ben Bernanke has placed the dollar in a dangerous situation, say analysts

"This is a very dangerous situation for the dollar," said Hans Redeker, currency chief at BNP Paribas.

"Saudi Arabia has $800bn (£400bn) in their future generation fund, and the entire region has $3,500bn under management. They face an inflationary threat and do not want to import an interest rate policy set for the recessionary conditions in the United States," he said.

The Saudi central bank said today that it would take "appropriate measures" to halt huge capital inflows into the country, but analysts say this policy is unsustainable and will inevitably lead to the collapse of the dollar peg.

As a close ally of the US, Riyadh has so far tried to stick to the peg, but the link is now destabilising its own economy.

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/19/bcnsaudi119.xml
 
China threatens 'nuclear option' of dollar sales

By Ambrose Evans-Pritchard
Last Updated: 8:39pm BST 10/08/2007

The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation.


Two officials at leading Communist Party bodies have given interviews in recent days warning - for the first time - that Beijing may use its $1.33 trillion (£658bn) of foreign reserves as a political weapon to counter pressure from the US Congress.

Shifts in Chinese policy are often announced through key think tanks and academies.

Described as China's "nuclear option" in the state media, such action could trigger a dollar crash at a time when the US currency is already breaking down through historic support levels.

It would also cause a spike in US bond yields, hammering the US housing market and perhaps tipping the economy into recession. It is estimated that China holds over $900bn in a mix of US bonds.

http://www.telegraph.co.uk/money/main.jhtml;jsessionid=2MPF3TFMQ42IDQFIQMFCFFOAVCBQYIV0?xml=/money/2007/08/07/bcnchina107a.xml
 
The above is what all our trade deficit has bought us from China. The short sightedness of this country is the one thing that pisses me off to no end.
 
ahh and if you have read the latest on this still going ing the wrong direction for the USA. Canada's dollar still tops ours. I guess more Canadains will come down here for medical care. Now for the cheaper price though. More miliionaire doctors :)
 
No are you a moron too?
I was reffering to usc and Castro Cypress.
So your really proud of you little canadian dollar ehhh.
 
Topspin said:
No are you a moron too?
I was reffering to usc and Castro Cypress.
So your really proud of you little canadian dollar ehhh.
Click to expand...

Well, considering you posted that after I mentioned the looney's value, one might wonder who you were talking to, specifically.

And yes, I'm happy the looney is doing well, even though it will have some negative impacts on our economy, eh.
 
I suggest we set the dollar to the worth of dirt so that everyone in America is a millionare. It would be the greatest economy in the world, according to Topper. :clink:

OMGZ NONE KAESFOF THIS MATTERS GUYS MORE LMILEIONEARS AVER VBERFOIER?!!! WHAT A GREAT WAY TO GUAGE THE ECONOMY! PERFECT MEASUREMENT, DEPENDS NOTHING ON ARBITRARY VALUES SUCH AS INFLATION?!!!
 
Watermark said:
I suggest we set the dollar to the worth of dirt so that everyone in America is a millionare. It would be the greatest economy in the world, according to Topper. :clink:

OMGZ NONE KAESFOF THIS MATTERS GUYS MORE LMILEIONEARS AVER VBERFOIER?!!! WHAT A GREAT WAY TO GUAGE THE ECONOMY! PERFECT MEASUREMENT, DEPENDS NOTHING ON ARBITRARY VALUES SUCH AS INFLATION?!!!
Click to expand...

Have a little patience, we are getting there.
 
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