WallyWeaver Posted May 30, 2012 Report Share Posted May 30, 2012 Well, how low will the Euro go? Will we actually see the Euro at 1:1 with the USD? How high will the USD go? Stay tuned.... USD Index: http://www.marketwat...sting/index/DXY Euro drops to lowest since June 2010 May 30, 2012, 10:46 a.m. EDT By Deborah Levine NEW YORK (MarketWatch) -- The euro extended losses against the dollar on Wednesday, falling as low as $1.2387, from $1.2493 in North American trade late Tuesday. The euro hasn't closed below $1.24 since June 30, 2010, according to FactSet Research. Link: http://www.marketwat...2010-2012-05-30 Link to comment Share on other sites More sharing options...
jaman Posted May 30, 2012 Report Share Posted May 30, 2012 the last time i looked at the EURO it was at $1.65 to $1 this was before this greece debt thing.was thing of buying some back them ...I would have lost a lot of money,wondering if the euro will tank. what your thoughts? Link to comment Share on other sites More sharing options...
rightsonword Posted May 30, 2012 Report Share Posted May 30, 2012 Hmm, I wonder if it might be wise to buy low and sell high. This is assuming that the banksters will not let the Euro fail, of course. Link to comment Share on other sites More sharing options...
WallyWeaver Posted May 30, 2012 Author Report Share Posted May 30, 2012 the last time i looked at the EURO it was at $1.65 to $1 this was before this greece debt thing.was thing of buying some back them ...I would have lost a lot of money,wondering if the euro will tank. what your thoughts? I think being short on the Euro is the best way to go for now, at least until the Greek elections on June 17th. After that election we should get a good idea of whether or not the Greeks want to stay in the EU. But then, of course, we have Spain and Italy in the on-deck circle with their debt problems and some contention between Hollande and Merkel on stimulus vs. austerity. I did read an interesting article earlier this week that suggests that Obama and the US Federal Reserve are willing to back the IMF (give them the money they need) to bail out Greece and Spain and thus keep the current EU together for a bit longer (at least until the November US Presidential elections). This was hashed out at the last G-8 summit right here in the US just a few weeks ago. The general consesus is Obama doesn't want to see the EU break-up until AFTER the US Presidential elections because he is afraid his chances at re-election will be slim if US markets tank on European worries. Swell guy, huh? So, taking into consideration all of the things above, I think the Euro will continue to go down for awhile (a month or two) and the USD will continue to go up. The USD is currently at 2 year highs this morning and continues to move upward based on the weakness of the Euro. I do not think the Euro will collapse, however, as many people do. It will collapse at some point as the average life span of a fiat currency is 40 years. But I think the USD will collapse before the Euro. And I don't think that will happen for several years. Of course, all of this could change if the Fed announces another round of QE in the next FOMC meetings starting on June 19th. If that happens the current trend will reverse. The USD will go down and the Euro will start gaining again. I'm sure I made that about as clear as mud. I guess my point is at this point it's anybodys' guess. Will the EU hold together or lose some members (ie. Greece, Spain, Italy)? Will the US Fed intervene by funding the IMF to keep the EU together? Will Bernanke continue to fear deflation of the USD and authorize another round of QE at the end of June, caving to pressure from the White House to keep the US markets afloat? Again, your guess is as good as mine.... WW. PS: In the long term I think the Euro makes it and the USD does not. I can't say what will happen with the USD, maybe the "New" USD similar to the "New" Peso? 1 Link to comment Share on other sites More sharing options...
The Machine Posted May 30, 2012 Report Share Posted May 30, 2012 Good evening WW . I think your right on the money there, I'm thinking the same. 1 Link to comment Share on other sites More sharing options...
WallyWeaver Posted May 30, 2012 Author Report Share Posted May 30, 2012 Good evening WW . I think your right on the money there, I'm thinking the same. Hey, good morning (evening) M. You certainly gave us all a lot to read with your "Books About Gold" posts. I'll have to check those out next weekend. WW. Link to comment Share on other sites More sharing options...
jaman Posted May 30, 2012 Report Share Posted May 30, 2012 thanks W W nice insite, I didn't know that US FED were going to help..the last i heard Obumma pulled out his pockets and said hands at sholder height "Idon't have any money" I guess this is our RV..money Link to comment Share on other sites More sharing options...
Butifldrm Posted May 30, 2012 Report Share Posted May 30, 2012 I justed Checked and the Euro is down to $1.239 according to KITCO not good! Link to comment Share on other sites More sharing options...
The Machine Posted May 30, 2012 Report Share Posted May 30, 2012 I justed Checked and the Euro is down to $1.239 according to KITCO not good! depends ho you lookat it ... it's not good if you use euros as your currency .... but if you want to buy something in euro's its really good right now £0.79 (GBP) = €1.00 ..... & £0.64(GBP) = $1 the lower it goes the more euros I get for my money conversly the dollar has been going up the last time I bought dollars it cost me £0.60 per dollar. Hey, good morning (evening) M. You certainly gave us all a lot to read with your "Books About Gold" posts. I'll have to check those out next weekend. WW. Yeah I got more of those ready to go .... there not all about gold and commodities but very relevant to what were into..... you can never educate yourself enough, I just wish there were a few more hours in a day so I had time to read everything i wanted to. 2 Link to comment Share on other sites More sharing options...
Butifldrm Posted May 30, 2012 Report Share Posted May 30, 2012 Machine, I guess I was relating to the decrease and how it would affect Iraq's foreign currency reserves. At one time 45% of Iraq's reserves consisted of Euro. Link to comment Share on other sites More sharing options...
Boatsum Posted June 9, 2012 Report Share Posted June 9, 2012 As the Chicken announced in the children's fable goes "The Euro is falling the Euro is falling" Link to comment Share on other sites More sharing options...
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