WTF US DOLLAR JESUS

[ivvaen]

Great, 1 year graph of US$ vs Norwegian Kroner:



And today newspapers write that it might even drop to 4. Have lost $4k already from this [censored] and will lose another $4k at least if that happens. Fix your currency US!

Actually, I think I'll switch to Euro.

[ahnuld]

well if the newspaper journalist said it, it must be true

[ama0330]

ahh GBP. I [img]/images/graemlins/heart.gif[/img] u

[DcifrThs]

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ahh GBP. I [img]/images/graemlins/heart.gif[/img] u

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heh. thats the next major currency to hit the crapper. UK's economic boom, much like the US's, has been predicated on vast expansion of credit (to record levels as % of GDP). the housing price boom (more drastic than US's) has furthered this in a positive feedback loop. inflows to the UK will likely be significantly hurt once the BoE has to start intervening (probably in the next 1-3 years).

there are also now structural problems since tony blair's (read Gordon Brown's) decision to separate the regulators from the managers (i.e. the FSA is not connected in any way to the BoE) in the late 1990s. the northern rock debacle was likely a direct result, at least in some part, of that policy.

so <3 the pound now, but i'd look to diversify some GBP holdings into both EURs and JPYs.

Barron

[SuperSnort]

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[ QUOTE ]
ahh GBP. I [img]/images/graemlins/heart.gif[/img] u

[/ QUOTE ]

heh. thats the next major currency to hit the crapper. UK's economic boom, much like the US's, has been predicated on vast expansion of credit (to record levels as % of GDP). the housing price boom (more drastic than US's) has furthered this in a positive feedback loop. inflows to the UK will likely be significantly hurt once the BoE has to start intervening (probably in the next 1-3 years).

there are also now structural problems since tony blair's (read Gordon Brown's) decision to separate the regulators from the managers (i.e. the FSA is not connected in any way to the BoE) in the late 1990s. the northern rock debacle was likely a direct result, at least in some part, of that policy.

so <3 the pound now, but i'd look to diversify some GBP holdings into both EURs and JPYs.

Barron

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although this is not right forum, i thought i might just say, i think it is more likely 3-5 years, as i dont think gordon will let it happen soonish or else he is out of no 10 when election comes imo and he got us into this trouble of impending doom, he doesnt want to be prime rib when it happens

[Andrew Beall]

lol @ USD < Euro today.. europeans bad beat americans..

[zen_rounder]

people from norway britain/ must be observing with dread what is happening to their poker bankrolls.. but as far as britain goes were right behind america economically, our debt and housing/cost of living situation is not far off the mark..prob just sit tight and see what happens. also what about china holding the future of the us dollar virtually in its hands. they dont want to be stuck with a trillion dollars of worthless currency. prob in the worlds interest to prop up the dollar if it continues to fall..

[ivvaen]

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well if the newspaper journalist said it, it must be true

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well, I realise that my post came off as pretty retarded, but my point is that it's almost impossible to speculate which way it's going, and the possibillity that it might drop further makes me want to say "[censored] it" and just convert now. And it's not journalists who say it might drop to 4, it is bankers and analysts. But, then again, you have other people in the same positions who argue that it will rise to 6 during the next year.

If I change it to Euro I'd have to take the loss, but I'd be more pissed if it stabilised at 4. However, I only have $20k, and I'm continuing to play at a $-site, so I guess what I do with my br now is not that huge of a deal really. It's important to me that it rises though since I'm hoping to make a lot more $$$ in the times to come.

[dhaimon]

[ QUOTE ]
Great, 1 year graph of US$ vs Norwegian Kroner:



And today newspapers write that it might even drop to 4. Have lost $4k already from this [censored] and will lose another $4k at least if that happens. Fix your currency US!

Actually, I think I'll switch to Euro.

[/ QUOTE ]

Well that's also because the NOK is very strong atm.