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  • #165,861
  • Nov 25, 2009 6:03pm Nov 25, 2009 6:03pm
Quoting TexasforEX
How exactly is he "destroying his power" by devaluing the debt his country owes to creditors?

If you or I borrowed 50,000 euros from UBS and then sat on it for 2 years and repayed the same debt with 30,000 euros we would be considered big winners.
Also, american international companies sell abroad in foreign currency and when they convert to dollar is more profit...also they need inflation b/c it would make home prices go up...and stop some people from going into foreclosure...right now they owe 2 times what the property is worth so they don't care if they lose it or not, the housing market needs to stabilze...no matter what they say,,,they do want an orderly decline of the dollar and it is good for US for now...unless you want to vacation in France.
  • #165,862
  • Nov 25, 2009 6:05pm Nov 25, 2009 6:05pm
Quoting wwwin
Also, american international companies sell abroad in foreign currency and when they convert to dollar is more profit...also they need inflation b/c it would make home prices go up...and stop some people from going into foreclosure...right now they owe 2 times what the property is worth so they don't care if they lose it or not, the housing market need to stabilze...no matter what they say,,,they do want an orderly decline of the dollar and it is good for US for now...unless you want to vacation in France.
Yeah, I went to a conference in London when the pound was at 1.85...$12 pints? ouch...
  • #165,863
  • Nov 25, 2009 6:13pm Nov 25, 2009 6:13pm
Quoting lloydblankfe

please tell me if i am wrong.
Dear LloydBlank,

Of course you're not wrong. Nobody is "right" or "wrong". Its kinda like when I say "strong dollar": do I really mean "strong"? Heck no, what I really mean is, "Shut the fuck up. We have the biggest military on the planet and just follow the smell of burning manmeat if you think we ain't afraid to use it. So just stop complaining about the dollar, I got it under control." Now that's what "strong" really means. Plus, every time I say "strong dollar", an angel gets his wings!

Listen Lloyd, we're all just people, trying to make our way in a complicated world. So I don't really mind when you call me "stupid" and "idiot" and so on. Because I feel your pain. That's why I gotta tell ya, buddy, I think you should try to relax a little more. Turn off Fox News, wipe the foam from your mouth, and just be happy. Things could always be worse. And don't worry about the USD - we know what we're doing. If you really want to help the economy, just go shopping. Boxes of 00-buckshot make great stocking stuffers, and they'll be good to have handy, if you know what I mean.

Happy Holidays!

Ben "Bad-Ass" Bernanke
"If The Fool persists in his Folly he will become wise." - William Blake
  • #165,864
  • Nov 25, 2009 6:15pm Nov 25, 2009 6:15pm
you guys are absolutely wrong America owes in foreign currency 14 trillion dollars, as dollar goes down it increases in domestic currency
  • #165,865
  • Nov 25, 2009 6:16pm Nov 25, 2009 6:16pm
I am very new to Forex and learning but Eur/usd and Usd/Chf run in different dirrections how can EU go up with out usd/chf going down and SNB not intervention
  • #165,866
  • Nov 25, 2009 6:19pm Nov 25, 2009 6:19pm
Quoting lloydblankfe
you guys are absolutely wrong America owes in foreign currency 14 trillion dollars, as dollar goes down it increases in domestic currency
They owe in dollars...no matter what happens to the dollar, they still owe 14 trillion or whatever it is they owe...they don't have to convert to a foreign currency to pay it.
  • #165,867
  • Nov 25, 2009 6:26pm Nov 25, 2009 6:26pm
i heard they borrowed 14 trillion in foreign currency. its foreign debt. i heard they owe it in other currency.
  • #165,868
  • Nov 25, 2009 6:31pm Nov 25, 2009 6:31pm
no, where did you hear that? they sell treasury bills to the china, in $$. Where do you get this notion?
  • #165,869
  • Nov 25, 2009 6:33pm Nov 25, 2009 6:33pm
Quoting The Fool
Dear LloydBlank,

Of course you're not wrong. Nobody is "right" or "wrong". Its kinda like when I say "strong dollar": do I really mean "strong"? Heck no, what I really mean is, "Shut the fuck up. We have the biggest military on the planet and just follow the smell of burning manmeat if you think we ain't afraid to use it. So just stop complaining about the dollar, I got it under control." Now that's what "strong" really means. Plus, every time I say "strong dollar", an angel gets his wings!

Listen Lloyd, we're all just people,...

Hehe, if I could vouch I would have

Can't imagine how angry and at the same time confused he was when he read this...
  • #165,870
  • Nov 25, 2009 6:35pm Nov 25, 2009 6:35pm
NO matter whta DOLLAR WILL BE KING Do not forget that .. alot of presure and what ever any one can think dollars are getting stremly cheap like it happened with euro at 1.2500 ,, and 1.6000 that is definetly out of the question at least not before a MAYOR and i MEAN mayor correction ....
the carry trade will be here yes i admited probably for a copuple cof months but inflation and gold are going to get out of hand and the panic dropping euros will be worst...
  • #165,871
  • Nov 25, 2009 6:36pm Nov 25, 2009 6:36pm
Quoting wwwin
no, where did you hear that? they sell treasury bills to the china, in $$. Where do you get this notion?
that is government debt- foreign debt doesn't have to be government debt.

Yes china does had lots of treasuries
  • #165,872
  • Nov 25, 2009 6:38pm Nov 25, 2009 6:38pm
Quoting lloydblankfe
i heard they borrowed 14 trillion in foreign currency. its foreign debt. i heard they owe it in other currency.
Not sure what kind of "debt" we're talking about, but usually people refer to foreign held US Treasury securities. The total amount of this debt is $3.5 trillion as of September
  • #165,873
  • Nov 25, 2009 6:40pm Nov 25, 2009 6:40pm
Quoting lloydblankfe
that is government debt- foreign debt doesn't have to be government debt.

Yes china does had lots of treasuries
Oh, you mean private debt, as in selling Euros (borrowing) to buy Dollars with the proceeds, then yes, then the borrower is screwed, for now.
  • #165,874
  • Nov 25, 2009 6:48pm Nov 25, 2009 6:48pm
E/u and USDX Monly ChartS

I Think Down Euro, Up USDx
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 001-eu.png Size: 26 KB
Click to Enlarge Name: 002-usdx.png Size: 23 KB
  • #165,875
  • Edited 7:07pm Nov 25, 2009 6:54pm | Edited 7:07pm
Quoting Savage
I am very new to Forex and learning but Eur/usd and Usd/Chf run in different dirrections how can EU go up with out usd/chf going down and SNB not intervention
First, let me say welcome to FF and the E/U thread and I wish you luck in your trades.

Re: SNB intervention. I get the feeling that they (the Swiss Bankers) don't really care any more. I mean, how many times do they have to intervene, and at what cost, with uniformly & continually ineffectual results, before they figure its just not worth it? Plus, who needs dollars anymore, anyway? They can buy oil/natural gas from the middle east in euros or francs. And its not like its hurting their trade, either - hell, Americans can't afford to buy high-end cheese & chocolates & diamond-encrusted watches, anyway.

But, yeah, I feel your pain, too. I went long the Swissy at 0.9995 - yup - right before the last jab down - so I'm sitting here -20 pips on that trade. So, the SNB has shown it will protect 1.50 on the EUR/CHF, and if & when it gets to that point and they intervene to stabilize the E/C, then maybe the U/C might make it back above parity. Or, hell, they might just give up on the USD altogether, not even let it into their banks at all. Kinda like you'll never make it into the White House if you a n...., oh, wait, that's right, never mind....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #165,876
  • Nov 25, 2009 7:01pm Nov 25, 2009 7:01pm
Quoting The Fool
But, yeah, I feel your pain, too. I went long the Swissy at 0.9995 - yup - right before the last jab down - so I'm sitting here -20 pips on that trade. So, the SNB has shown it will protect 1.50 on the EUR/CHF, and if & when it gets to that point and they intervene to stabilize the E/C, then maybe the U/C might make it back above parity. Or, hell, they might just give up on the USD altogether, not even let it into their banks at all. Kinda like you'll never make it into the White Hosue if you a n...., oh, wait, that's right, never mind....
SNB has indicated they may no longer intervene to weaken CHF against EUR. We will find out soon enough.
  • #165,877
  • Nov 25, 2009 7:02pm Nov 25, 2009 7:02pm
Just a quick OT post during this quiet period. As a Kiwi, you may or may not know that us and the Aussies are fiercely competetive in most everything we do......we love to beat each other at anything. The saying goes that us Kiwi's support NZ, and any team that's playing Australia!

Now I'm not sure how to embed youtube clips here, so we will see how this goes. This short TV advert is priceless though. I hope you enjoy:

Inserted Video
Doing what you like is Freedom. Liking what you do is Happiness.
  • #165,878
  • Nov 25, 2009 7:03pm Nov 25, 2009 7:03pm
Quoting Optimum
E/u and USDX Monly ChartS

I Think Down Euro, Up USDx
As Chuck Bronson said, "This ain't ovah!" Seriously this USD beat-down could go on for the rest of the week, with low-liquidity exaggerated moves, NY traders all gone to Vermont for an snowy Thanksgiving ski getaway, man we could see 1.55 by Monday.

Inserted Video
"If The Fool persists in his Folly he will become wise." - William Blake
  • #165,879
  • Nov 25, 2009 7:09pm Nov 25, 2009 7:09pm
Quoting realjumper
Just a quick OT post during this quiet period. As a Kiwi, you may or may not know that us and the Aussies are fiercely competetive in most everything we do......we love to beat each other at anything. The saying goes that us Kiwi's support NZ, and any team that's playing Australia!

Now I'm not sure how to embed youtube clips here, so we will see how this goes. This short TV advert is priceless though. I hope you enjoy:

http://www.youtube.com/watch?v=nqRVqXMyzhM

I would like to add some forex traders feeling pretty good.. here they are
Inserted Video
#
  • #165,880
  • Nov 25, 2009 7:11pm Nov 25, 2009 7:11pm
Quoting The Fool
Plus, every time I say "strong dollar", an angel gets his wings!

And don't worry about the USD - we know what we're doing. If you really want to help the economy, just go shopping. Boxes of 00-buckshot make great stocking stuffers, and they'll be good to have handy, if you know what I mean.

Happy Holidays!
I do all my Xmas shopping at Cabellas!

Strong dollar, Strong dollar, Strong dollar......Omg Ben Bernake just appeared in my mirror!!!
"Timing Is Everything. Really I Swear It Is"
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