Denarius Posted April 7, 2007 Report Share Posted April 7, 2007 Every fiat currency that any country has ever issued has always failed. Before the constitution, the US had continentals, which was used to finance the revolutionary war. It failed, and the founding fathers understood why. They wrote the constitution with a sound money principle so that this would not happen again. Unfortunately the constitution is not being enforced. Shortly thereafter the US issued greenbacks to fund the civil war, this also failed. This is explained very well here: http://www.gold-eagle.com/gold_digest_04/stott102804.html After this it was on again fiat and off again and floating and partially gold backed as they experimented with money. Since Nixon went off gold backing the dollar has been a fiat currency. He had no choice though because the Viet Nam war bankrupted the US, and he could not otherwise stop the flow of gold out of the US. Since then it has been a ponzi game. Link to comment Share on other sites More sharing options...
OCgringo Posted April 7, 2007 Report Share Posted April 7, 2007 Just for a point , the US$ against the UK pound was down to $1.05 in the late 80s and is now at Almost $2 for a pound Japanese yen was 275 to a dollar and got down to 85 or so ! Aussie dollar was down to 50c now its 80cents The D-Mark was 3,30 to the dollar and got down to 1.35 So there are big swings but over many years The US$ was very strong in the late 80s , went down some but was still OK most of the 90s Even when the Euro started the dollar was at .85 for awhile, now its 1.33 or so Anyway its crazy trying to buy stuff in Europe to sell in the USA...and try and keep the price constant OC Link to comment Share on other sites More sharing options...
Denarius Posted April 16, 2007 Report Share Posted April 16, 2007 US dollar broke below the 82 support level on the Dollar Index. The next support level is 80. If it gets below that it could quickly go to 72, and if more tariffs are not introduced it could get down to 45 within the next 2 years. Link to comment Share on other sites More sharing options...
OCgringo Posted April 16, 2007 Report Share Posted April 16, 2007 I have no idea of the "support level" you speak about , but if you are saying the US$ is going to lose another 50% of its value in 2 years I think thats crazy, The world will have major problems if this happens , and I believe the EU-Japan -China would not let it happen. OC Link to comment Share on other sites More sharing options...
Neo Posted April 16, 2007 Report Share Posted April 16, 2007 So called "support levels" are about as useful as kids playing a guessing game as far as I have witnessed. Link to comment Share on other sites More sharing options...
Prosal Posted April 24, 2007 Report Share Posted April 24, 2007 I'm surprised that nobody has created a thread like : "Contemplating vacation destinations - Where does the dollar still go far ?" Could be an interesting topic. Link to comment Share on other sites More sharing options...
junglesoup Posted April 24, 2007 Report Share Posted April 24, 2007 I'm surprised that nobody has created a thread like : "Contemplating vacation destinations - Where does the dollar still go far ?" Could be an interesting topic. Nowhere... Link to comment Share on other sites More sharing options...
junglesoup Posted April 24, 2007 Report Share Posted April 24, 2007 So called "support levels" are about as useful as kids playing a guessing game as far as I have witnessed. Support levels and resistance levels are only apparent in hindsight. Th Euro touched 1.37 over 2 years ago. Now we are near that point again. I only tend to give weight support/resistance levels after 2 failed attempts at a certain price level. After one touch, there is no way of saying this is a support/resistance level. I think the law applys that the more failed price attempts at breaking a certain price level then the stronger that area becomes as an area of S/R. Link to comment Share on other sites More sharing options...
Prosal Posted April 24, 2007 Report Share Posted April 24, 2007 Nowhere... I think you still get very good value for your us$ in Indonesia and in Cambodia. In South America in Argentina, in Peru, in Colombia if you avoid Medellin and Cartagena that gringo money has made a bit pricey, and in Venezuela if you change on the black market. I've been told recently that Nicaragua was also still cheap. In Europe Moldova, Belarus, Romania and Bulgaria are still dirt cheap. Link to comment Share on other sites More sharing options...
Rex7777 Posted April 24, 2007 Report Share Posted April 24, 2007 Supposedly, the dollar is now at or near the bottom end of a trading range. If so, some sort of a bounce would be in order. Most of the time, I'm a pessimist on this type of thing, but I have to remind myself that it's all relative. If the dollar truly does tank, that would mean big trouble for the rest of the world. Hopefully, the world's centrral bankers will act accordingly. And it won't be too much longer and the current crop of fools will be out of the White House. Maybe things will get better. Rex Link to comment Share on other sites More sharing options...
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