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<strong>Title: </strong> <a href="/link.php?id=26638" target="_blank">Dollar may crash to $.85 next year</a> (click to view)

<strong>Category:</strong> <a href="/news/topic/17-business" target="_blank">Business</a>
<strong>Posted By: </strong> <a href="/modules.php?name=Your_Account&op=userinfo&username=Scape" target="_blank">Scape</a>
<strong>Date: </strong> 2007-10-30 15:02:02
<strong>Canadian</strong>

   

Not sure I beleive that, I know the buck won't stay much above the greenback for ever but I simply can not see our buck going to .8 anymore. I think unless disaster strikes those days are over...

   

The loonie is over-valued and is worth about $0.85.

   

The US dollar is also over-valued, but I couldn't tell you what it should be worth. I think it's more likely our dollar will find a niche and stay there for a while. A large part of the reason that our dollar is going up is mostly due to the US dollar falling out of favour for the Euro because of shitty American foreign policy and its declining manufacturing sector, not to mention their whole economy going down the tubes because it's all being spent on things that self-destruct instead of things that make people live.

   

The value of the loonie and the Greenback are more influenced by the price of oil than any other factor IMO.

   

You don't think our US$9 trillion dollar debt doesn't affect the value of the dollar?

Our debt is the #1 force devaluing the US dollar and the jacktards - Republican & Democrat both - will not do one damn thing to stop the debt from getting bigger.

   

your going to need a new president before that happens....this one has been off to congress what?four or five times to get the debt rsaied to pay for Iraq.

   

You're a fool if you think the Greenback will recover. The fact that the U.S. is currently engaging in seigniorage to pay for its spending is evidence enough that they are on the fast track to economic devastation. The American dollar has been significantly overvalued for the last decade or more and unless people are really fucking dumb (which they are...so I'm not holding my breath), you'll see the U.S. dollar continue to slump as investment goes to Canada and Europe. Now could somebody please put tariffs on Chinese imports so that the price reflects the real value of their currency? Fuck.

   

if all these people who predict what and where the economy is going are all that smart, why are they all not billionaires?

   

Well, my Euro's are going to America, and not to Canada. I don't need them now, so I will wait with my Euro's becoming CA$.

I hope that before I need my money, the CA$ and the US$ are a little more back to normal, but is makes absolutely no sense to change my Euro's into CA$ now.

   

No, right now its oil.

   

Iraq isn't the only thing the debt is being raised for. The Democrats and Republicans have been on spending sprees for the past forty years and neither side is willing to take the political heat to stop it. They just keep putting off the pain and handing the burden to the next generation.

We're setting up for a crash and the dollar will be no better than a Weimar mark when the crash finally happens.

Which is why I advise everyone to have at least a modest amount of gold and silver and ammunition on hand.

The ammo is *not* meant for some insurrection, btw, in economies that are in collapse ammo substitutes quite readily for coinage.

   

Of course the greenback will recover. Global currencies are getting too high relative to the dollar. The purchasing power parity of the loonie is about $0.85 and its about $1.15 for the euro. The disconnect of prices between America and the rest of the world simply cannot continue indefinitely. At some point, it will correct and the loonie will fall back to earth. There is no dramatic difference between interest rates. Right now, the moves in currencies are being driven entirely by sentiment. And just like all the doomsayers were saying the loonie was going to go to $0.50 a mere five years ago, now we're hearing pollyanish predictions.

And tariffs on China could trigger a global economic melt-down, so that shouldn't happen, though with the Dems controlling everything in 2009, it may.

   

All I know is the cadence of the dollar shift is very unsettling. Up or down the momentum is unsecured and that going to end up doing real damage wherever it flails.

   

America really needs to have an armed revolt.

   

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