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#1
09-20-2007, 03:15 PM
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Some scary stuff about the dollar
I guess from the Sporting Events forum (?) that the Canadian dollar has caught the US dollar. I remember when it was almost 2 to 1. Vancouver strip clubs get a lot less fun at this rate.
Here's some other scary reading: http://www.telegraph.co.uk/money/mai...cnsaudi119.xml http://www.telegraph.co.uk/money/mai...nchina107a.xml My buddy who's fairly accurately predicted the dotcom collapse and housing collapse (yes they both seem obvious in restrospect, but at the time very few people in the public eye were actually predicting collapse) is pretty well convinced a dollar collapse is coming. But then again he's also been predicting a DOW collapse since 2000 as well, and we're still waiting for that one. 
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#2
09-20-2007, 04:38 PM
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Re: Some scary stuff about the dollar
this could be a real problem for me, as i'm a british online poker pro, so spend in pounds (which are strong) but earn in dollars (which are weak and weakening), and also have quite a bit of money on poker sites in dollars (not loads by high stakes players' standards, but enough that a collapse would be painful for me). how likley to people think a collapse (or just a fairly dramatic decline over the next few years) is? there are sites where you can play in pounds, instead - do people think this is a sensible precaution to take?
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#5
09-20-2007, 04:57 PM
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Re: Some scary stuff about the dollar
Yes he is. He got fired from Amazon while the stock was blowing up. A lot of customer service reps he worked with went on to be worth $millions in options (couldn't quite cash out that much, but still a nice $500k or so). I think this left a bit of a bitter taste in his mouth.
But he was right about the dotcom thing, even from the beginning when everyone was still drinking the koolaid. Those were fun times to be on The Motley Fool message boards.
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#6
09-20-2007, 05:00 PM
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Re: Some scary stuff about the dollar
People have ben talking about this in finance for the last 6 months. Dont think a collapse will happen, but the dollar is certisnly likely to go lower still. If you are american, it doesnt really matter much as long as most of your costs are in USD. The real issue is for people like me who make all their income in american dollars and all our expenses are in canadian dollars.
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#8
09-20-2007, 05:30 PM
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Re: Some scary stuff about the dollar
So what if you think it's going to happen? What's the best investment - foreign stocks, bonds, US stocks, money market? (Basically I'm listing off the options in my 401k, sadly gold and a plasma TV are not options.)
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#9
09-20-2007, 05:32 PM
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Re: Some scary stuff about the dollar
[ QUOTE ]
could this be why absolute (which is a canadian company) can do the 9% interest for elite accounts? [/ QUOTE ] can someone tell me more about this? thanks a lot, tc
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#10
09-20-2007, 05:37 PM
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Re: Some scary stuff about the dollar
[ QUOTE ]
[ QUOTE ] could this be why absolute (which is a canadian company) can do the 9% interest for elite accounts? [/ QUOTE ] can someone tell me more about this? thanks a lot, tc [/ QUOTE ] Absolute offered 9% interest to VIP players to lure more money onto the site and then used super-user accounts to take said money. But seriously, more information can be found here.
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