Dollar Slides Past $1.26 to EURO - Democratic Underground

Eurobabe

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Wed Dec-31-03 08:38 AM
Original message

Dollar Slides Past $1.26 to EURO

Does anybody care about this? Not good.

Dollar extends fall to new low against euro
Financial Times
http://tinyurl.com/2sfs7

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phillybri

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Wed Dec-31-03 08:42 AM
Response to Original message

1. Our President supports a strong dollar policy!

Didn't you know???

:grr:

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priller

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Wed Dec-31-03 09:26 AM
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2. No, it's not good. Potentially disastrous.

How long are foreign governments going to continue to hold on to dollars when the value of those dollars is falling like a rock? What happens when the decide to dump them?

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Beaker

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Wed Dec-31-03 09:29 AM
Response to Reply #2

3. ooh...ooh...I know!...I know!...pick me...

intrest rates will go up, up, up...

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Petrodollar Warfare

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Wed Dec-31-03 09:45 AM
Response to Original message

4. The question is what will OPEC & Russia do about this?

<<<Does anybody care about this?>>>>

We all should care that our currency is being inflated/devalued in an effort to pump up another bubble. However, if OPEC follows the lead set by Iran 6 months ago and begins demands payment for their oil exports in euros instead of dollars in order to reduce thier loses. Well, the S&*^ will hit the fan at that point. I think 1.35 is the ball park number that will cause a dollar crisis, IMHO. Russia may move to the euro earlier than OPEC, but it is unclear exactly when..

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Turbineguy

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Wed Dec-31-03 10:06 AM
Response to Original message

5. I bought some flowers

at a Railroad station in the Netherlands earlier this month. The shop owner was interestested where I thought the dollar would settle.

But here in the U.S. we don't have to worry. We have George W Bush and he will protect us. Failing that, a rollback at Walmart will solve everything.

Bush will do whatever it takes to stay in the Whitehouse. If that means a 1930's style depression, "Bring 'em on!"

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NNN0LHI

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Wed Dec-31-03 10:32 AM
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6. Do I care? I think I should. But I don't know jack about this stuff

Thanks for the post.

Don

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pinkpops

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Wed Dec-31-03 10:59 AM
Response to Original message

7. from Reuters

Edited on Wed Dec-31-03 10:59 AM by pinkpops

Currency traders are "routinely ignoring positive information, choosing instead to highlight negative information as an excuse to sell the dollar," said Michael Woolfolk, senior currency strategist with the Bank of New York. He noted that the greenback's downward momentum was accentuated by thin markets.

http://www.reuters.com/newsArticle.jhtml?jsessionid=EJEABTPRWEEFCCRBAEOCFEY?type=businessNews&storyID=4061434
--------

Could it be they don't believe the "positive information" when reported by a pack of liars?

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