Pages: 1 2

 

2009-10-11 19:41:52
Harmor
Error_Name_Not_Found
+605|6835|San Diego, CA, USA
Found on http://www.drudgereport.com/

https://img193.imageshack.us/img193/3736/captphoto12552943192791.jpg

Dollar facing 'power-shift': analysts

Brietbart wrote:

The dollar's position as the world's leading reserve currency faces increased pressure as the financial crisis allows emerging economies greater influence on the world stage, analysts said.

A report last week in The Independent claiming that China, Russia and Gulf States are among nations prepared to ditch the dollar for oil trades has heightened the uncertainty surrounding the US currency's future.

The dollar slumped against rivals last week in the wake of the British daily's controversial report.

"The US dollar is being hurt by the continued talk of a shift away from a dollar-centric world," said Kit Juckes, an analyst at currency traders ECU Group.

"Three conclusions stand out very clearly. Firstly, the shift in economic power away from the G7 economies is continuing. "Secondly, there is a growing acceptance amongst those winners that one consequence of this power shift will be to strengthen their currencies.

"And finally, as long as the US economy is not strong enough for any rise in interest rates to be conceivable for a long time, the dollar's underlying downtrend will remain in place," added Juckes.

The Independent, under the front-page headline "The Demise of the Dollar", reported last Tuesday that Gulf states, together with China, Russia, Japan and France, were considering replacing the dollar as the currency for oil deals.

"In the most profound financial change in recent Middle East history, Gulf Arabs are planning -- along with China, Russia, Japan and France -- to end dollar dealings for oil," wrote The Independent's Middle East correspondent Robert Fisk.
These other countries may say publicly they aren't trying to replace the dollar, but then why is Gold over $1048/oz?

Us Americans will start having high level of inflation as interest rates will need to rise to attract investments.  Australia already raised their short-term interest rates.
2009-10-11 19:43:38
Kmar
Truth is my Bitch
+5,695|6888|132 and Bush

Australia hasn't had nearly the troubles the rest of the world has had. They can afford to raise the rates.
Xbone Stormsurgezz
2009-10-11 19:44:55
Spark
liquid fluoride thorium reactor
+874|6961|Canberra, AUS
You guys have zero interest rate. Do you honestly think that can last?
The paradox is only a conflict between reality and your feeling what reality ought to be.
~ Richard Feynman
2009-10-11 19:58:39
Flecco
iPod is broken.
+1,048|6952|NT, like Mick Dundee

Kmarion wrote:

Australia hasn't had nearly the troubles the rest of the world has had. They can afford to raise the rates.
Krudd > Bush/Borock at dealing with economic crisies.
Whoa... Can't believe these forums are still kicking.
2009-10-11 20:03:12
=NHB=Shadow
hi
+322|6652|California

Flecco wrote:

Kmarion wrote:

Australia hasn't had nearly the troubles the rest of the world has had. They can afford to raise the rates.
Krudd > Bush/Borock at dealing with economic crisies.
But you guys don't have thousands of mexicans pouring into your country everyday!!
Where I live, everywhere I look I see mexicans over here and over there, they be everywhere!
2009-10-11 20:54:39
DrunkFace
Germans did 911
+427|6968|Disaster Free Zone

Flecco wrote:

Kmarion wrote:

Australia hasn't had nearly the troubles the rest of the world has had. They can afford to raise the rates.
Krudd > Bush/Borock at dealing with economic crisies.
lol. Howard > Bush at establishing an economy resistant to externalities and creating a budget surplus.

=NHB=Shadow wrote:

Flecco wrote:

Kmarion wrote:

Australia hasn't had nearly the troubles the rest of the world has had. They can afford to raise the rates.
Krudd > Bush/Borock at dealing with economic crisies.
But you guys don't have thousands of mexicans pouring into your country everyday!!
Where I live, everywhere I look I see mexicans over here and over there, they be everywhere!
We just have them Zealanders.

Last edited by DrunkFace (2009-10-11 20:55:33)

2009-10-11 21:02:45
Kmar
Truth is my Bitch
+5,695|6888|132 and Bush

Flecco wrote:

Kmarion wrote:

Australia hasn't had nearly the troubles the rest of the world has had. They can afford to raise the rates.
Krudd > Bush/Borock at dealing with economic crisies.
Bush and all the other US leaders that voted for and pushed the plans... including our current President. Your economy is so tiny by comparison. It's easier to put on the brakes.
Xbone Stormsurgezz
2009-10-11 21:08:06
Jay
Bork! Bork! Bork!
+2,006|5645|London, England

DrunkFace wrote:

lol. Howard > Bush at establishing an economy resistant to externalities and creating a budget surplus.
Not terribly difficult when your primary asset consists of leading sheep between grass and water...
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
2009-10-11 21:35:14
Dilbert_X
The X stands for
+1,817|6393|eXtreme to the maX
But you guys don't have thousands of mexicans pouring into your country everyday!!
Where I live, everywhere I look I see mexicans over here and over there, they be everywhere!
If you choose to do nothing about it thats up to you.
Not terribly difficult when your primary asset consists of leading sheep between grass and water...
Seems to be better than your assets.

OP: There is no need for many countries to use the dollar to buy oil any more -> So long US economy.
Fuck Israel
2009-10-11 21:37:12
Spark
liquid fluoride thorium reactor
+874|6961|Canberra, AUS

JohnG@lt wrote:

DrunkFace wrote:

lol. Howard > Bush at establishing an economy resistant to externalities and creating a budget surplus.
Not terribly difficult when your primary asset consists of leading sheep between grass and water...
I lol'd.

china helped
The paradox is only a conflict between reality and your feeling what reality ought to be.
~ Richard Feynman
2009-10-11 21:41:22
Kmar
Truth is my Bitch
+5,695|6888|132 and Bush

So long US economy.
Haha.. in your dreams. Actually that would be a nightmare. This world can't handle another 2nd/3rd world country with a massive arsenal.
Xbone Stormsurgezz
2009-10-11 21:54:10
Dilbert_X
The X stands for
+1,817|6393|eXtreme to the maX

Kmarion wrote:

Haha.. in your dreams. Actually that would be a nightmare. This world can't handle another 2nd/3rd world country with a massive arsenal.
Not a problem for us anyway, the world has handled the US long enough.

The ME's trading partners will soon be the East, not the West, they won't need your poxy dollars.
The Chinese economy will soon be bigger than the US, if it isn't already.

Seems like win-win TBH.
Fuck Israel
2009-10-11 22:01:56
AussieReaper
( ͡° ͜ʖ ͡°)
+5,761|6440|what

Australia's just strongly followed the Keynesian model for dealing with a recession and pumped a lot of money into infrastructure and with a few stimulus packages. China did the same ($700bn worth) in fact. The US hasn't fared as well because it's had to borrow a lot of money to do the same.
https://i.imgur.com/maVpUMN.png
2009-10-11 22:05:40
Kmar
Truth is my Bitch
+5,695|6888|132 and Bush

Dilbert_X wrote:

Kmarion wrote:

Haha.. in your dreams. Actually that would be a nightmare. This world can't handle another 2nd/3rd world country with a massive arsenal.
Not a problem for us anyway, the world has handled the US long enough.

The ME's trading partners will soon be the East, not the West, they won't need your poxy dollars.
The Chinese economy will soon be bigger than the US, if it isn't already.

Seems like win-win TBH.
More wishful thinking. The US economy isnt going anywhere. Harmor enjoys creating these topics because he is a die hard anti-democrat, and so with them in full control doom and gloom is the prescription. I saw the exact opposite happen for years when the GOP had control. China has a long way to go in terms of actually being able to provide for it's own. The purchasing power of the average chinaman is abysmal. We've been through much worse. Admittedly sometimes it would be nice to be like Australia, smaller and virtually unworthy of mentioning. But when the desperate need to blame everyone but themselves it is important that they have someone like the big bad Americans to point at.
Xbone Stormsurgezz
2009-10-11 22:07:18
AussieReaper
( ͡° ͜ʖ ͡°)
+5,761|6440|what

Dilbert_X wrote:

The Chinese economy will soon be bigger than the US, if it isn't already.
China purposely presents a weakened dollar (some predict it's only currently represented at 40% of it's real worth) to help them with exports. If they had a correct market value for what the China dollar is worth, they would probably suffer since they wouldn't be as competitive globally.

Then again, that would just mean they would focus more on their own populace which as kmar mentioned, is pretty poor.
https://i.imgur.com/maVpUMN.png
2009-10-11 22:14:31
Kmar
Truth is my Bitch
+5,695|6888|132 and Bush

AussieReaper wrote:

Dilbert_X wrote:

The Chinese economy will soon be bigger than the US, if it isn't already.
China purposely presents a weakened dollar (some predict it's only currently represented at 40% of it's real worth) to help them with exports. If they had a correct market value for what the China dollar is worth, they would probably suffer since they wouldn't be as competitive globally.

Then again, that would just mean they would focus more on their own populace which as kmar mentioned, is pretty poor.
Like they need help with exports.. but yes, you're right. Part of this is of course our own fault. We made them a preferred trading partner, ignoring their unfair trading tactics for years.
Xbone Stormsurgezz
2009-10-12 00:04:59
BVC
Member
+325|6982

DrunkFace wrote:

We just have them Zealanders.
If you lot weren't so lazy, there wouldn't be so much work over there

Last edited by Pubic (2009-10-12 00:05:14)

2009-10-12 00:08:17
Varegg
Support fanatic :-)
+2,206|7097|Nårvei

Kmarion wrote:

AussieReaper wrote:

Dilbert_X wrote:

The Chinese economy will soon be bigger than the US, if it isn't already.
China purposely presents a weakened dollar (some predict it's only currently represented at 40% of it's real worth) to help them with exports. If they had a correct market value for what the China dollar is worth, they would probably suffer since they wouldn't be as competitive globally.

Then again, that would just mean they would focus more on their own populace which as kmar mentioned, is pretty poor.
Like they need help with exports.. but yes, you're right. Part of this is of course our own fault. We made them a preferred trading partner, ignoring their unfair trading tactics for years.
But Chinas population is used to being poor, yours is not Kmar ...
Wait behind the line ..............................................................
2009-10-12 01:34:59
Flecco
iPod is broken.
+1,048|6952|NT, like Mick Dundee

Kmarion wrote:

AussieReaper wrote:

Dilbert_X wrote:

The Chinese economy will soon be bigger than the US, if it isn't already.
China purposely presents a weakened dollar (some predict it's only currently represented at 40% of it's real worth) to help them with exports. If they had a correct market value for what the China dollar is worth, they would probably suffer since they wouldn't be as competitive globally.

Then again, that would just mean they would focus more on their own populace which as kmar mentioned, is pretty poor.
Like they need help with exports.. but yes, you're right. Part of this is of course our own fault. We made them a preferred trading partner, ignoring their unfair trading tactics for years.
That.

I always wished a US President would try what that dude in the Clancy novels did. Trade Reform or w/e the hell it was.
Whoa... Can't believe these forums are still kicking.
2009-10-12 01:49:03
Spark
liquid fluoride thorium reactor
+874|6961|Canberra, AUS

Flecco wrote:

Kmarion wrote:

AussieReaper wrote:


China purposely presents a weakened dollar (some predict it's only currently represented at 40% of it's real worth) to help them with exports. If they had a correct market value for what the China dollar is worth, they would probably suffer since they wouldn't be as competitive globally.

Then again, that would just mean they would focus more on their own populace which as kmar mentioned, is pretty poor.
Like they need help with exports.. but yes, you're right. Part of this is of course our own fault. We made them a preferred trading partner, ignoring their unfair trading tactics for years.
That.

I always wished a US President would try what that dude in the Clancy novels did. Trade Reform or w/e the hell it was.
Mirroring the trade practices of other nations to said nations?

Rather mean and nasty economic tool that.
The paradox is only a conflict between reality and your feeling what reality ought to be.
~ Richard Feynman
2009-10-12 02:26:37
Flecco
iPod is broken.
+1,048|6952|NT, like Mick Dundee

Well maybe countries shouldn't intentionally set out to fuck up people's markets?

Looks angrily at Japan and China.
Whoa... Can't believe these forums are still kicking.
2009-10-12 02:42:21
Zimmer
Un Moderador
+1,688|7043|Scotland

Fact remains it's still a hell of a lot stronger than it was 1 year ago, when £1 was $2. Those were some shit shit times when receiving payments from the US.
2009-10-12 02:44:52
Kmar
Truth is my Bitch
+5,695|6888|132 and Bush

Varegg wrote:

Kmarion wrote:

AussieReaper wrote:


China purposely presents a weakened dollar (some predict it's only currently represented at 40% of it's real worth) to help them with exports. If they had a correct market value for what the China dollar is worth, they would probably suffer since they wouldn't be as competitive globally.

Then again, that would just mean they would focus more on their own populace which as kmar mentioned, is pretty poor.
Like they need help with exports.. but yes, you're right. Part of this is of course our own fault. We made them a preferred trading partner, ignoring their unfair trading tactics for years.
But Chinas population is used to being poor, yours is not Kmar ...
I guess we will have to start planting rice paddies so we can drown our unwanted children in them.
Xbone Stormsurgezz
2009-10-12 03:21:51
Varegg
Support fanatic :-)
+2,206|7097|Nårvei

Kmarion wrote:

Varegg wrote:

Kmarion wrote:


Like they need help with exports.. but yes, you're right. Part of this is of course our own fault. We made them a preferred trading partner, ignoring their unfair trading tactics for years.
But Chinas population is used to being poor, yours is not Kmar ...
I guess we will have to start planting rice paddies so we can drown our unwanted children in them.
You have unwanted children?
Wait behind the line ..............................................................
2009-10-12 10:26:10
Kmar
Truth is my Bitch
+5,695|6888|132 and Bush

Varegg wrote:

Kmarion wrote:

Varegg wrote:


But Chinas population is used to being poor, yours is not Kmar ...
I guess we will have to start planting rice paddies so we can drown our unwanted children in them.
You have unwanted children?
No, but the Chinese sure as hell do. .. on a scale of mass murder.
Xbone Stormsurgezz

 

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