BS: Last chance to cash in US dollars

Subject: BS: Last chance to cash in US dollars
From: Donuel
Date: 10 Mar 05 - 09:07 AM

George Soros made 39 cents on the dollar by converting dollars to euros 4 years ago. Warren Buffet made about half that by converting later.

The only thing propping up the dollar has been China and Japan which has led to the unbelivable low mortgage rates still available in the US despite the falling dollar.

BUT NOW Japan will be diversifying investments.
This will begin a significant inflation spike...
However -
As soon as the massive sell off of US Treasury notes begins in Asia it will be too late to convert your savings to another currency without huge losses due to inflation.

Will China pull the plug 10 years before they are slated to be the #1 GNP in the world? I do not know.

While US billionaires will be safe, it is certain that no matter what wing you adhere to, the voodoo economic chickens are coming home to roost.

This is your last chance to feather your nest.

Subject: RE: BS: Last chance to cash in US dollars
From: Ebbie
Date: 10 Mar 05 - 02:40 PM

A man I met a couple of weeks ago had just returned home to the US from the middle east where he'd been traveling all winter (He even got into Yemen). He has a Dutch passport and still has a Dutch accent)

He said that there were several places where he could not use American money- it wasn't worth enough and they didn't want it.

Subject: RE: BS: Last chance to cash in US dollars
From: Rapparee
Date: 10 Mar 05 - 04:08 PM

It's been coming for quite some time. Really has been. And I'm not at all surprised.

Subject: RE: BS: Last chance to cash in US dollars
From: DougR
Date: 10 Mar 05 - 08:10 PM

If I provide you with my snail mail address, will you send me all of the American currency you don't want?

DougR

Subject: RE: BS: Last chance to cash in US dollars
From: heric
Date: 10 Mar 05 - 08:17 PM

I just did a re-fi to get a fixed rate for the first time in 18 years. "Feathering" is not in the cards but at least I feel protected. (Assignable fixed mortgages are apparently no longer available.)

Subject: RE: BS: Last chance to cash in US dollars
From: kendall
Date: 11 Mar 05 - 07:39 PM

I saw a number of places in the UK that wouldn't take US money.

Subject: RE: BS: Last chance to cash in US dollars
From: GUEST,petr
Date: 11 Mar 05 - 07:57 PM

both Japan & China have a huge stake in US Treasury Bills,
but to sell them off would hurt them too.
theyre stuck in hard place, because to sell them off would reduce their value. And since China pegs its currency(artificially low) to the US dollar in order to be able to sell into the US a drop in the value of the U$ would give them even less value.

IF they were to stop pegging their currency to the $ and let it adjust on the market the yuan would almost certainly go up and thereby negatively impact Chinese trade to the US.
The Bush administration is using the low value of the dollar to solve their overspending and trade deficit problems, simply because the $ is the most widely used currency in the world. (eg petroleum is only dealt with in US $)

the big loser in this is the US consumer, and the EU, as the increased Euro value to the $ makes it harder to sell their products in the US.

as a long term policy though its not good.

Subject: RE: BS: Last chance to cash in US dollars
From: The Fooles Troupe
Date: 11 Mar 05 - 08:03 PM

US currency will soon only be used for drug deals...

Subject: RE: BS: Last chance to cash in US dollars
From: Ebbie
Date: 11 Mar 05 - 10:21 PM

Oh, goody. Then we'll have a healthy economy!

Subject: RE: BS: Last chance to cash in US dollars
From: DougR
Date: 11 Mar 05 - 10:49 PM

Come on guys (and girl)I'll take all you will send me!

DougR

Subject: RE: BS: Last chance to cash in US dollars
From: Little Hawk
Date: 11 Mar 05 - 11:19 PM

I hope your faith in the Greenback is justified, Doug, because my business survives on products paid for in American dollars. It's been getting leaner and leaner as the dollar goes down...from $1.55 Canadian not long ago to today's $1.19 Canadian at the bank.

I'm glad I bought gold awhile back, let me tell you.

What worries me more than that, though, is that major monetary collapses sometimes result in major wars not too far down the road.

Subject: RE: BS: Last chance to cash in US dollars
From: Troll
Date: 12 Mar 05 - 12:12 AM

I don't think that Japan will present a major problem either. Their economy is very precarious. In the buying boom of the '80's and '90's they got badly overextended on loans. The property that is securing those loans is worth far less than the investors paid for it and many investors are in default.

The banks don't want the properties and, because of the Japanese cultural practice of never causing someone embarassment, they will not demand that the loan be paid.

A sticky situation.

troll