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Dollar to Sterling = 1.00:1.50? Is the Euro a real currency even?


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Dollar to Sterling = 1.00:1.50? Is the Euro a real currency even?
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cosus
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Join Date: Mar 2007
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2010-03-02, 08:58

Not that it would mean a seriously fucked UK economny (I'm mean maybe in a Greece fucked kind of way), but it'd be finally be cheap to travel to the UK for Americans. :P


Warren Buffet yesterday said, if not USD, it would be those Swiss Francs. I guess really, there aren't any other currencies in the world with stability at the moment... I mean the Euro has no strength no matter it's value. Effectively a French/German currency that Germany, AFAIK, does as a charity as it helps more of the smaller EU nations than France or Germany. Again to its viability, there're not enough Euros for it to be reserve currency and it's lack of a single country backing it seems to just beam uncertainty.

I don't know, what you think?

Retired 8 years ahead of schedule.
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scratt
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2010-03-02, 11:03

It's all imaginary money anyway. A year or so ago it was $2 to the £1.

The US Dollar doesn't even exist. It's basically the Yuan these days.

Everything is so volatile backing any currency is a fools game unless you are doing margin calls on Billions of units.

If I had to bet on a future currency it would still be the Euro, despite your somewhat strange views on it.

'Remember, measure life by the moments that take your breath away, not by how many breaths you take'
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Luca
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2010-03-02, 11:08

Quote:
Originally Posted by scratt View Post
It's all imaginary money anyway...The US Dollar doesn't even exist
LOL, one of my friends on Facebook (old high school friend) posted something on his wall that started like this, except instead of ending rationally it was something like "the governments of the world are conspiring to devalue all our currency and form a new world order; you think that's MONEY in your wallet? Better invest everything you own in gold right now!"
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Kickaha
Likes his boobies blue.
 
Join Date: May 2004
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2010-03-02, 11:18

Ah, a Glenn Beck follower, then.

The guy sows fear and doubt regarding currencies on his show, and then turns around and shills for... wait for it... a company that sells gold.

Gee. No conflict of interest there, at all.

Asshat.

My other brain is hung like a horse too.
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Old school is being able to say 'finger me' with a straight face.
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scratt
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2010-03-02, 11:20

Heh. Well I don't quite subscribe to the conspiracy theory side of it, but the Gold advice wouldn't have been bad advice to give a year or so ago.. Right now it may well be close to it's peak. It's certainly not going to sky rocket. But in times of uncertainty it's a pretty safe bet.

Certainly out here in Thailand, Gold is the number one choice for personal investment with Thais, and they literally wear their savings around their necks.

I think the thing is it's a stable foundation (*unless you are the British PM) which can withstand volatility for small / simple investors. I think this applies more in the "third" world than in "Civilised" countries where all these mail your gold in for bucks type schemes seem to be the next big consumer ripoff!!

*Our PM managed to offload all of our stockpiles at about the time it was at it's lowest.... And he used to be our Chancellor!

'Remember, measure life by the moments that take your breath away, not by how many breaths you take'
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Mugge
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Join Date: Jan 2005
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2010-03-02, 12:33

Here's a little link to some figures:

http://www.cmavision.com/market-data/ (notice the highest default probabilities)

And regarding gold, it should be noted that it historically has been more volatile than most currencies. Gold can't default, but there are cheaper ways to insure yourself against that.
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addison
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2010-03-03, 13:34

Quote:
Originally Posted by scratt View Post
Heh. Well I don't quite subscribe to the conspiracy theory side of it, but the Gold advice wouldn't have been bad advice to give a year or so ago.. Right now it may well be close to it's peak. It's certainly not going to sky rocket. But in times of uncertainty it's a pretty safe bet.
But if you adjust for inflation gold would need to be over $2000/ounce to be at a real all time high. When I was born gold was at $35/ounce and was illegal to own.

Most western currencies are in the same boat, weighed down by crippling debt that is only getting worse.
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Banana
is the next Chiquita
 
Join Date: Feb 2005
 
2010-03-03, 13:39

This morning, I passed a billboard advertising people to sell their gold jewelry and watches and whatnot. It said "Most serious money offered". Suddenly the phrase 'funny money' makes a lot of sense now!
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Robo
Formerly Roboman, still
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2010-03-03, 13:43

Quote:
Originally Posted by Luca View Post
LOL, one of my friends on Facebook (old high school friend) posted something on his wall that started like this, except instead of ending rationally it was something like "the governments of the world are conspiring to devalue all our currency and form a new world order; you think that's MONEY in your wallet? Better invest everything you own in gold right now!"
Why would governments want to devalue their own currencies...wah...ow...my head hurts.

Also, the Euro is a "real" currency. What else could it be? It's no more "imaginary" than any other currency.

and i guess i've known it all along / the truth is, you have to be soft to be strong
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scratt
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2010-03-03, 14:15

Quote:
Originally Posted by Roboman View Post
Why would governments want to devalue their own currencies...wah...ow...my head hurts.
Trade.
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Robo
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2010-03-03, 14:26

I guess what I meant was, why would *all* governments want to devalue their currencies, at once. It's not like they'd all benefit. It makes no sense, it's like a conspiracy theory with no actual motive
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Kickaha
Likes his boobies blue.
 
Join Date: May 2004
Location: Hell
 
2010-03-03, 14:29

Tinfoil hat time:

1) Establish government authority as physical. ie, arm the police, the military, etc, then de-arm the populace.

2) Get populace to buy in to non-physical power base. ie, economic, intellectual, networking, etc

3) Dismantle each systematically: Intellectual: devalue education as 'elitist', strip funding from educational system. Networking: instill distrust of neighbors and contacts through 'guilt by association', ala social networking trawling, 'terror networks', bogus 'materially aiding' charges, etc. Economic: devalue currencies globally, such that no one has purchasing power, anywhere...

4) New World Order.

That's the theory at least. Thank god none of it is even remotely real or possible, eh?

My other brain is hung like a horse too.
#IRC isn't old school.
Old school is being able to say 'finger me' with a straight face.
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Robo
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2010-03-03, 14:34

I suppose. I guess I don't see "New World Order" as an ultimate motive. I mean, they would establish a new order for other gains, right? Not just for fun...

I hear tons of people saying stuff like "They are going to do X to start a ZOMG New World Order!" but they never really get the why.

But then again I'm not a tinfoil hat person
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