Quoting RezoDisliked
First Of all I want to say hello to everyone. I am new here but I read a lot about this forum and people around here. So I am glad to join the forum
A bit on euro history:
Actually, before 1999, the Euro didnt even exist. We had ECU (or XCU) before 1999. The euro was formally launched on 1 January 1999 but the currency has only been used for non-cash transactions such as cheques and bank transfers. The euro notes and coins were officially launched on 1 January 2002 with the new currency becoming the sole legal tender of the twelve-country euro zone on 1 March 2002.
Euro is not just the same thing as the former European Currency Unit (or "ECU"). The ECU was a theoretical "basket" of currencies rather than a currency in and of itself, and no "ECU" bank notes or coins never existed.
When the Euro was formally launched in 1999, its rate started at the ECU rate = 1.1789. From the point of its formal launch and to actual moment when euro notes and coins were officially launched, the EURUSD rate fell from 1.1789 to al low as 0.82 by the end of 2001. Note that in Jan 2002, Euro notes and coins were introduced, and almost immidiately Euro started its climb from its lowest points to where we are today - > 1.3 plus.
So, what I wanted to say after small course of history is, that EURUSD never was at 1:2 rate, and I dont think we will get there in a year or two (that is, of course unless there is a world war 3 or some other factor which is hard to foresee, which can drastically affect US as a country. 1:2 cannot be reached by markets going as they are now).
Best Regards,
Rezo
Ignored
Also- If we see a world war III it will not only be the US affected, as all in the free world will participate, hence the WWIII. What that will do to the currency I cannot speculate.
QuoteDislikedBecause the world economy is deeply affiliated with the US economy. When you can't pay your debts back this will hurt the whole world badly. The US economy is not an isolated story (perhaps in the 19th century
Again- I have to take issue with this statement. Look at my past chart. If this happens I will admit our wrongs, but to throw rocks at the U.S. through hypotheticals is nothing but country bashing.
"Its not where your at, but where your coming from"