Dollar on the verge of breaking through $1.50 versus Euro

10-21-09

[dennisw]

Very bad news in my book...

[cripplecreek]

Drudges fault. LOL

[mick]

Looks like a top to me. Maybe time to short the euro.

[dennisw]

http://www.usagold.com/live.html

Just broke $1.50....AU naturally and dittos for crude

This is why your gasoline is going up
The 0bama policy is to gradually devalue the US Dollar’s value
A gradual decline
Nothing precipitous that will upset the markets

[BenLurkin]

We’re breaking through! Woo-Hoo!

Oh.

Wait.

[mikelets456]

Yes and no...bad if you buy foreign products but good for business in the USA. Over seas "customers" will buy more product from a country with a weaker currency. More people will travel here, spend here, etc. last time the Euro was 1.46 and the Pound was over $2 our economy seemed pretty darn good. I know there is more to it, but it's not all bad.. YET

[TLI]

The Øbama administration is thrilled at the new crisis they can not let go to waste.

[for-q-clinton]

He is continuing the Bush policy of a weak dollar.

There are some upsides to a weak dollar though and that it makes labor cheaper in the US so more jobs can be here. But the problem is he’s taxing business so much that he’s making the weaker dollar have no upside whatsoever.

[VeniVidiVici]

Wasn’t it already at 1.58 or so a year ago?

[MNlurker]

Of course there aren’t as many products being made here and no real incentive to here anymore...LOL :\

[Abathar]

I’m waiting to hear that unions want to be paid in Euros now, instead of dollars.

Hell they ask for everything else anymore...

[Deo volente]

All-time high for the Euro was $1.60, on April 22, 2008.

[nascarnation]

I’m waiting to hear that unions want to be paid in Euros now, instead of dollars.

That'll only work for government employee unions.

All the private business that are unionized are being shredded by competitors.

[dennisw]

Wasn’t it already at 1.58 or so a year ago?......

Roughly 15 months ago the USD hit its low at $1.64/EUro
Same time as crude oil peaked and blew off

Then USD got stronger and stronger and got as high as $1.24/Euro last winter and spring

[rwfromkansas]

I hate the fact it costs more for us when we go on vacation in Europe etc.

At the same time, a weaker dollar can have some good sides.

That said, a weaker dollar just makes you feel like the country overall is weaker, and I don’t like that.

[rwfromkansas]

Not like we go to Europe....lol

[ErnBatavia]

Yes - I'm hopeful that this can generate a sale on the (now deceased) parents' home....I hate being Trustee and the family squabbles involved. Get the damned place sold and close the books!

Bring on a Canadian (they love to snowbird in our desert)!

[dennisw]

The 0bama policy is to gradually devalue the US Dollar. They will never intervene on behalf of it

[Nervous Tick]

>> Over seas “customers” will buy more product from a country with a weaker currency.

Hooray for us!

Except we don’t really make much product anymore, do we?

Oh well! Nevermind! We will now be more competitive overseas for our services, right? Like our lawyers, our government clerks, our home health care workers, our fast food monkeys, our pole dancers, our teevee stars, our athletes... all the great “industries” upon which our vibrant economy is based!

Hooray for us!

[mikelets456]

True....only so many burgers we can flip.

All I am saying, is we sell to the Chemical and pharmaceutical industries and when the dollar was weak these companies started selling and expanding their plants.