Dollar loses reserve status
 

Dollar loses reserve status to yen & euro

This is not good...

We should attach ourselves to the Euro. Then again, what do you bet the Euro doesn't want us?

I give this thread four more posts before it's PARFED.

I thought of posting it there...but really, this is NOT good news. I've got an idea...I'll post it there as well. Perhaps people will keep this thread non political, just post ideas of possible personal financial options here, post political thoughts there?

End of the line. Never in my life did I think European countries would be economically more powerful than the U.S. But really, we've sort of got nothing. :(

Posted on PARF as well...hoping people who wish can jump back & forth. Where to go? Gold? International bonds? What?

what's a wise man to do with his earnings?:eek:

My case rests...

Good question, buy hard assets..you will be able to pay your debts off with cheap money.

Anything but USD eg cash, CDs and its equivlants..Bonds...you are gona take it right up the azz.

US companies with multinational exposure..our goods and services are gona look CHEAP.

So ya might be makin 100K a year so what a new Bummer migh cost ya a cool Million....What this means in real terms is that the American worker is takin a pay cut.

Canadian dollar keeps creeping up.... should be worth more by next week..... and we've yet to see the USD start the nosedive. The pound is taking a beating too

Keep Going
 

I'm still PO at myself for not buying 10K of US $ last year when we were ahead by a nickel...

Got 5k yesterday and will buy more if we go in the + again.

Not good for our economy but good for my Porsche & Traveling accounts.

I knew I should of kept those Canadian pennies from when I was a kid.

Hope this is just bad sentiment preceding a big rally in the dollar. The nation cannot afford a rapid devaluation. You cannot undo a standard of living which evolved over decades.

You guys trying to reposition to profit, give it up. The 'mememe' attitude is part of the problem with the dollar. Just be smart and ride it out.

OK guys. In the spirit of Pelican OT brotherly love, send all of your money to me. I will deposit it in nice safe Canadian banks in Canadian funds. :D

Ian

That removes your 'financial independence' and is the first step in becoming a non-entity in the financial world. Your inability to set your own interests rates wouldn't go over too well.

I can see Canada doing it, but not the USA.

That'll leave a mark...

It's actually a good thing IMO. One cannot keep printing funny money and not expect the people you're paying with it to like it.

Your posts have been right on, although oddly not well received by most (yet, but give it a little more time).

Very troubling times, indeed. Our current leadership is driving the bus right off a cliff, from which recovery is very questionable.

From the link.

"After printing up trillions of new dollars and new bonds to stimulate the US economy, the Federal Reserve chief is now boxed into a corner battling two separate monsters that could devour the economy -- ravenous inflation on one hand, and a perilous recession on the other.

"He's in a crisis worse than the meltdown ever was," said Peter Schiff, president of Euro Pacific Capital. "I fear that he could be the Fed chairman who brought down the whole thing."

Another take:
FT.com / Columnists / Martin Wolf - The rumours of the dollar’s death are much exaggerated