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$1.42 today to buy a Euro. Has it ever cost more?

agentjim007agentjim007 Posts: 6,256 ✭
in U.S. Coin Forum
Maybe I'm wrong but this is the indicator I watch to see just how bad things are.

Comments

  • ebaytraderebaytrader Posts: 3,312 ✭✭✭


    << <i>Maybe I'm wrong but this is the indicator I watch to see just how bad things are. >>





    Bad for whom? image
  • agentjim007agentjim007 Posts: 6,256 ✭
    for us. No one (outside US) wants dollars anymore.
  • ebaytraderebaytrader Posts: 3,312 ✭✭✭


    << <i>for us. No one (outside US) wants dollars anymore. >>




    image Yeah, because the EU interest rates are waaaaay too high relative to their core inflation rate. If the EU says, " We whipped inflation and are lowering the lending rates", gold would tank. Limit down for days on end.
  • agentjim007agentjim007 Posts: 6,256 ✭
    I don't know this stuff. You guys need to fill me in.
  • ebaytraderebaytrader Posts: 3,312 ✭✭✭
    Research 'carry trade'. It's driving gold up in dollars thru forex arbitrage.
  • mrpaseomrpaseo Posts: 4,753 ✭✭✭
    I know nothing about this stuff either, but I tell you this, they want the dollar in Iraq to the point that the make counterfeits.

    (Alright, stop laughing, there trying to be a nation)

    Ray
  • ebaytraderebaytrader Posts: 3,312 ✭✭✭
    Also, stop listening the BDS'ers to get your news. Do your own research and thinking. If the dollar trade isn't scaring seasoned Wall Street traders with MBA's, why is it scaring you?
  • LALASD4LALASD4 Posts: 3,602 ✭✭✭
    Import prices are way up, we will buy more domestically produced products and it will produce more jobs in this country, it might not be all bad if we don't travel.
    Coin Collector, Chicken Owner, Licensed Tax Preparer & Insurance Broker/Agent.
    San Diego, CA


    image
  • fcfc Posts: 12,793 ✭✭✭
    If the dollar trade isn't scaring seasoned Wall Street traders with MBA's, why is it scaring you

    -----

    i laugh when i read stuff like this.

    so all wall street traders are smart, beautiful, and sexy? they cannot
    make mistakes and become filled with lust and greed?

    since when has a MBA meant you are a smart trader?

    maybe they have to go about their business on a daily routine,
    well because that is what they do... not because they are fearless.

    so when another black monday comes along and NO ONE KNOWS WHY it happened... i will continue to think all these wonderful smart
    traders had all their money NOT in stocks that day.

    anyway, i went to germany about 14 years ago and I did not shop
    because everything was so expensive for me. nothing has changed.
    goto europe and try to shop. your money will not go very far.
  • itsnotjustmeitsnotjustme Posts: 8,779 ✭✭✭
    I convert $4-5,000 dollar to euros monthly to pay my:
    Rent
    Gas/Electric
    Water
    Gas
    Internet/Land Line Phone
    GSM Phone
    Meals
    Groceries
    and to have some pocket money.

    I am fortunate to have a US Embassy Cashier I am allowed to use, and I can exchange at the official exchange rate. Two weeks ago I converted $5,000 @ 1.38, and thought oh well (that was lowest in a while). Today that looks like a real smart move. Unfortunately that money is about gone, and the next will be at this new bad rate.

    On the bright side, when I get my lease deposit back (3 months rent) and sell my Volvo, the euros I get back will bring me more dollars than they cost me. Also, my cost of living allowance should be higher next month, and my housing allowance will clearly be higher next month!
    Give Blood (Red Bags) & Platelets (Yellow Bags)!
  • coinkatcoinkat Posts: 23,850 ✭✭✭✭✭
    no

    Experience the World through Numismatics...it's more than you can imagine.

  • tradedollarnuttradedollarnut Posts: 20,209 ✭✭✭✭✭
    As soon as you recognize that the only way out of our entitlement mess is to allow 6-8% real inflation but report it as 2-3%, it all makes sense....
    Early Dollar Set
  • MichiganMichigan Posts: 4,942 ✭
    The Euro price makes it a bargain for Europeans to come visit the United States, good for the US tourist business and the stores and
    restaurants that cater to them.
  • kiyotekiyote Posts: 5,588 ✭✭✭✭✭
    No wonder Cokes were so expensive in Greece last month! image
    "I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.
  • 53BKid53BKid Posts: 2,176 ✭✭✭
    We are paying the price for terrible policy decisions. More to come.
    HAPPY COLLECTING!!!
  • coinkatcoinkat Posts: 23,850 ✭✭✭✭✭
    53Bkid

    You just may be right about that

    Experience the World through Numismatics...it's more than you can imagine.

  • FrankcoinsFrankcoins Posts: 4,572 ✭✭✭


    << <i>Two weeks ago I converted $5,000 @ 1.38, and thought oh well (that was lowest in a while). Today that looks like a real smart move. Unfortunately that money is about gone, and the next will be at this new bad rate. >>



    Converting dollars to euros is expensive, as you point out.

    Saddam Hussein converted to the euro for Iraq’s oil exports in the fall of 2000. The Iranian government plans to begin using a euro-based international oil-trading mechanism.

    We invaded Iraq and now are banging the drums of war against Iran. Coincidence?

    Energybulletin.net
    Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    so all wall street traders are smart, beautiful, and sexy? they cannot make mistakes and become filled with lust and greed?

    This is basically the spin that was heaped on derivatives over the past 10 years. You could have interviewed bank presidents, CEO's, and any trader, and they all would have said to a tee that derivatives are the best thing that has ever happened to Wall Street. It's enabled risk to be spread out and reduced. PhD's and MBA's all agree what a great thing D's have been. Shift forward a few years........

    OK...so now the chickens are roosting and the story line has changed.....just ask Cramer who pleaded like a baby for the FED to lower rates so his trading buddies can continue to sock away those fat end of year bonuses built on "sand."

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • TexastTexast Posts: 1,899 ✭✭✭✭
    Those who fail to learn from history are doomed to repeat it. I am no expert, just someone who remembers the problems of the 70's. I tend to believe we are heading for recession. But don’t take my word for it, I will defer to news sources like Time Magazine. Why the Dollar Is a 98-lb. Weakling
    On BS&T Now: Nothing.
    Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
    Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
  • rooksmithrooksmith Posts: 1,097 ✭✭✭✭

    The last few paragraphs of that Time article are ominous...



    << <i>These days, China and the other countries participating in what some have called Bretton Woods II export so much more to the U.S. than they import, they find themselves with hundreds of billions of dollars that they don't know what to do with. Up to now they've been content to recycle most of them by buying Treasury bills and other U.S. securities. The U.S. has enjoyed the low interest rates that have resulted, while China, the gulf states and Japan haven't wanted to face the consequence that by selling dollars, they would decrease the value of their remaining dollar holdings. >>

    “When you don't know what you're talking about, it's hard to know when you're finished.” - Tommy Smothers

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