World economy talk

**uls** · June 26th, 2008 04:13 PM

Everyone should just stop accepting US dollars as payment for anything...

China should stop accepting USD as payment for its consumer goods exports...

Oil producers should stop accepting USD as payment...

No wonder the Gulf States are spending and building like crazy...

they have soooo much USD... the earn so much USD every single day...

They have to quickly exchange the dollars for something real... if they just keep it, i will lose value quickly...

So they build shiny new cities in the desert kesa itago sa bangko ang USD na araw araw na-da-dilute

**tidus1203** · June 27th, 2008 10:14 AM

Don't worry slowly but surely people are getting out of USD. The Euro has never been as high up as it is now in terms of central bank reserves something like 28% of total foreign exchange reserves. The USD still commands 60%++ pero dati it was as high up as 80%++.

**tidus1203** · June 27th, 2008 02:25 PM

[ame="http://www.youtube.com/watch?v=gldETRlhiXk&NR=1"]YouTube - Ron Paul Schools Ben Bernanke Yet Again 2-27-08[/ame]

More wise words from Ron Paul, this time schooling Ben Bernanke

**tidus1203** · June 27th, 2008 02:26 PM

Double Post!

**tidus1203** · July 6th, 2008 07:10 PM

Bush says backs strong US dollar policy

Reuters
First Posted 16:38:00 07/06/2008
TOYAKO, Japan--US President George W. Bush said on Sunday the American economy was not growing as quickly as he would like and that his administration supported a strong US dollar policy.
"Our economy is not growing as robustly as we'd like," Bush told reporters at a news conference after meeting Japanese Prime Minister Yasuo Fukuda ahead of the G8 leaders summit.
"In terms of the dollar, the United States believes in a strong dollar policy and believes the strength of our economy will be reflected in the dollar.
"I just said, the relative strength of our economy will be reflected in currencies."

Oh PLEASE! I don't understand why the media even bother to report this garbage. This is so scripted that everytime you ask Bush or Paulson on their stance on the dollar and why its falling they always say they support a "STRONG DOLLAR" policy... Their actions says otherwise though...

**uls** · July 6th, 2008 07:29 PM

Ya puro salita... si Ben, si Paulson, si Bush... pareho ang sinasabi...

But where the hell is the freakin rate hike?

wala!

**CVT** · July 7th, 2008 03:58 PM

Originally Posted by tidus1203

Don't worry slowly but surely people are getting out of USD. The Euro has never been as high up as it is now in terms of central bank reserves something like 28% of total foreign exchange reserves. The USD still commands 60%++ pero dati it was as high up as 80%++.

Between my PhP and USD savings, I think I will take my chances with the USD. Can't buy any property with my USD savings as it is relatively small. So, just buy small electronic items na lang....

6404:pump:

**tidus1203** · July 7th, 2008 04:40 PM

Why don't you buy Euro or Australian Dollar instead of staying with the USD. The USD is very flawed underneath, I mean all the US can do is really to inflate the currency. They owe so much money (both internally and externally, mostly externally) and they don't have the money to pay it back so they resort to 2 things, either they borrow again or the easier way is to print the money to repay the debt. The problem there is that it diminishes the value of the USD if they increase the money supply (aka inflate it). The US is still fortunate they can continue to do this since they still have the world's reserve currency, however, with the way things are going that will no longer be the case as the creditors start to lose faith in the dollar.

**CVT** · July 8th, 2008 07:19 AM

Sorry,- double post gremlin strikes again!

6404:pump:

**CVT** · July 8th, 2008 07:19 AM

^ Bro.,- I actually tried asking BPI and PCIB if I can change our USD savings and TD accounts there to Euro. They told me that I have to change them myself, meaning outside of the bank. So, where is a safe institution that you can recommend where I can change them? And, do they accept Manager's cheque? TIA.

6404:pump:

**mazdamazda** · July 8th, 2008 08:39 AM

This is the end of teh world... oh noes...

**tidus1203** · July 8th, 2008 08:49 AM

Originally Posted by CVT

^ Bro.,- I actually tried asking BPI and PCIB if I can change our USD savings and TD accounts there to Euro. They told me that I have to change them myself, meaning outside of the bank. So, where is a safe institution that you can recommend where I can change them? And, do they accept Manager's cheque? TIA.

6404:pump:

In my case kasi I have the money outside this country so the bank can do the conversion for me with a simple phone call. But if that is not an optinon for you, I would go to the black market of Binondo. Many banks in the Binondo area have managers who do currency trading as a sideline. There you can exchange your USD for EUR. Of course they mark up on the market rate.... Alam ko dun sa Chinabank in Juan Luna has a trader in the Treasury Dept. doing FX trading as a sideline...

**v6dreamer** · July 8th, 2008 09:06 AM

The weakness of the US dollar is based almost totally on the National Debt, which is now about 8.8 trillion dollars. The more debt we accrue, the less likely we are to be able to meet our financial obligations to other countries, and thus the dollar sinks relative to other countries. Despite assurances from the White House that the economy is strong, other nations know that our economy is strong only because it is borrowed, and that some day (all American) we will have to pay that loan.

For 2008, the INTEREST on the national debt will be about $300 billion. Imagine what we could do if we weren't pouring all that money down a hole?

The only way to avoid such a horrific event is to cut spending drastically dismantle the Federal Reserve and reinstate the gold and
silver standard....like the old day's.

**tidus1203** · July 8th, 2008 09:19 AM

^^Very very well said V6DREAMER... The US is a society of debt, and it just uses debt to continue running. Debt is like steroids, but once overused XD

**tidus1203** · July 8th, 2008 01:05 PM

[ame="http://www.youtube.com/watch?v=0Jjotm_MXRk"]YouTube - The 10 Month Orgy[/ame]

Very funny guy but very serious comments...

**uls** · July 8th, 2008 01:44 PM

Response to the video:

People don't do or say anything coz they don't know what the Fed is doing to them. They don't know that the Fed is stealing from them.

A lot of people still believe the Fed is a govt agency. People think the Fed's job is to look after the economy and the people.

THE FED IS NOT A GOVT AGENCY.

the Fed is a club of bankers.

The Fed was put together to protect the interests of its friends.

**warp** · July 8th, 2008 02:25 PM

Anong magandang ipalit sa USD? EUR, AUD, CAD o SGD? Alin po rito and mai-i-recommend nyo?

Salamat po!

**Flagg** · July 9th, 2008 04:29 PM

Originally Posted by warp

Anong magandang ipalit sa USD? EUR, AUD, CAD o SGD? Alin po rito and mai-i-recommend nyo?

Salamat po!

EUR, AUD, CAD are all good choices.

**tidus1203** · July 9th, 2008 04:48 PM

You know what ngayon ko lang napansin ito pero SGD looks really good against the USD. I also like the JPY pero mukang short term pain for long term gain ito so don't expect immediate miracles.. Same with the CHF (Swiss Franc), same scenario with the JPY.

**tidus1203** · July 10th, 2008 02:57 PM

EVen the Vatican is affected by the weak dollar, they should have been smarter in their foreign exchange operations. They should have not held so much dollars

Too bad they have many US donors

http://www.gmanews.tv/story/106167/V...dollar-decline

The Largest Car Forum in the Philippines

World economy talk

Thread Tools

Search Thread

Display