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Rate speculation sends dollar to record low
Financial Times ^
| November 20 2007 11:04
| By Peter Garnham
Posted on 11/20/2007 4:40:40 AM PST by DeaconBenjamin
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Emergency rate cut? What emergency?
To: DeaconBenjamin
The dollar fell to a record low against the euro on Tuesday as rumours swept the currencies markets that the Federal Reserve was set to deliver an emergency cut in US interest rates. Traders said the talk was that that the Fed would cut interest rates when it released its new growth forecasts and the minutes from its October meeting at 19.00GMT. WOW!!! This blindsided me!! LOL!
America is now a bargain with the wise jumping in. Meanwhile, overseas they are sweating bullets for the USD got rebates and incentives, hehehe.
2
posted on
11/20/2007 4:56:52 AM PST
by
BlabItGrabIt
(Trucks...Trucks....Trucks...Trucks)
To: DeaconBenjamin
If we didn’t have a president who loves the weak dollar and high oil prices, there would have been coordinated intervention by now.
3
posted on
11/20/2007 5:39:15 AM PST
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: DeaconBenjamin
The Fed will want to keep its options open, he sad. By introducing an emergency rate cut, it would send the wrong message out to the market and seriously undermine its credibility. Bull. The Fed needs to do a big rate cut now just to keep up with reality.
4
posted on
11/20/2007 5:40:54 AM PST
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: DeaconBenjamin; Calpernia; cbkaty; Nervous Tick; ex-Texan; RockinRight; NVDave; Neidermeyer; ...
Economy/Credit/Housing Issues Ping List
If you want on or off this list let me know.
5
posted on
11/20/2007 5:42:04 AM PST
by
Hydroshock
("The Constitution should be taken like mountain whiskey -- undiluted and untaxed." - Sam Ervin)
To: Moonman62
We need a rate increase to shore up the dollar and to reduce inflation.
6
posted on
11/20/2007 5:43:18 AM PST
by
Hydroshock
("The Constitution should be taken like mountain whiskey -- undiluted and untaxed." - Sam Ervin)
To: BlabItGrabIt
Oh yeah, it’s just GREAT when your national currency collapses!
We’ll follow the same road to wealth traveled by other great nations: Mexico, Argentina, Bolivia, etc.
7
posted on
11/20/2007 5:58:21 AM PST
by
Travis McGee
(---www.EnemiesForeignAndDomestic.com---)
To: Moonman62
The Fed has no magic bullet, no solution.
They drop the rates to protect our national economy, they kill the dollar, which is already losing its status as the world's reserve currency, with all of the tremendous advantages that has given us since Bretton Woods in 44.
Or they raise interest rates to protect the dollar and maintain its world leading status (good luck!) and choke the national economy.
Hobbes choice.
"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."
~~Ludwig von Mises
8
posted on
11/20/2007 6:01:49 AM PST
by
Travis McGee
(---www.EnemiesForeignAndDomestic.com---)
To: DeaconBenjamin
Well, I guess we were not at a bottom on the dollar in the previous discussion.
and seriously undermine its credibility.Hint ol' boys. You have no credibility. The credit bubble is bursting and the dollar is tanking and it happened on your watch.
To: Travis McGee
Oh yeah, its just GREAT when your national currency collapses!Who are you speaking of? The EURO and Yuan are about to blow up in their faces. Cable, also.
Their central bankers need to slash their rates before they go busted.
10
posted on
11/20/2007 6:02:58 AM PST
by
BlabItGrabIt
(Trucks...Trucks....Trucks...Trucks)
To: Hydroshock
See my last. The Fed is damned if they do or don’t. We’re cornered, the result of our credit bubble excesses. It’s too late to be saved by Bernanke pulling a Volcker. Won’t/can’t work this time.
11
posted on
11/20/2007 6:03:35 AM PST
by
Travis McGee
(---www.EnemiesForeignAndDomestic.com---)
To: Travis McGee
Maybe we can get rid of some of these leeches pegged to our currency if we continue to sour the milk.
12
posted on
11/20/2007 6:04:58 AM PST
by
Realism
(Some believe that the facts-of-life are open to debate.....)
To: Toddsterpatriot; groanup
hey, guys, let’s continue this over here. Let us see if you can stay on this topic this time - the role of the federal reserve in undermining the US$ through its excessive expansion of the credit bubble encouraged by pumping funds into the economy through those “evil” primary dealers.
To: BlabItGrabIt
I agree, we’re just leading the pack in the downward race of debasing our national currencies. But there will be severe punishment to the USA for “winning” this race to the bottom, especially regarding the loss of dollar denomination of oil contracts. Once countries don’t need dollars to purchase oil, there will be no remaining floor under the dollar, and “watch out below!”
14
posted on
11/20/2007 6:05:51 AM PST
by
Travis McGee
(---www.EnemiesForeignAndDomestic.com---)
To: Travis McGee
Isn’t Greenspan to blame for a lot of this mess with LOW INTEREST rates??
15
posted on
11/20/2007 6:05:58 AM PST
by
Ann Archy
(Abortion: The Human Sacrifice to the god of Convenience.)
To: Realism
Maybe we can get rid of some of these leeches pegged to our currencyLike hardworking Americans for instance?
To: DeaconBenjamin
Well at least the dollar is backed up by all of the gold in Fort Knox.
What?
The dollar's not backed by gold?
And there's no gold in Fort Knox?
We're DOOMED!
17
posted on
11/20/2007 6:06:11 AM PST
by
CholeraJoe
(Be unique. It makes it easier for the rest of us to identify the morons.)
To: Realism
Huh? How will it help us if the gulf states and the Saudis unpeg from the dollar and sell oil in Euros?
18
posted on
11/20/2007 6:07:22 AM PST
by
Travis McGee
(---www.EnemiesForeignAndDomestic.com---)
To: CholeraJoe
When WAS the last outside audit of the gold allegedly in Fort Knox?
Or is there just a pile of paper there, “lease” agreements for gold that’s long since gone, never to return?
19
posted on
11/20/2007 6:08:25 AM PST
by
Travis McGee
(---www.EnemiesForeignAndDomestic.com---)
To: BlabItGrabIt
with the wise jumping in. and the smart money is jumping in so fast that stocks, assets and the dollar are screaming back up as folks can't get in fast enough through a narrow window of opportunity [/sarcasm].
Do you have any clue exactly how much worthless US$ denominated paper is cramming the vaults of the rest of the world? It was our #1 export.
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