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Old 11-27-2006, 10:03 PM   #1
MadseasoN
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Euro vs the Dollar

What do you guys think about this:

"The effect of an OPEC switch to the euro would be that oil-consuming nations would have to flush dollars out of their (central bank) reserve funds and replace these with euros. The dollar would crash anywhere from 20-40% in value and the consequences would be those one could expect from any currency collapse and massive inflation. You'd have foreign funds stream out of the U.S. stock markets and dollar denominated assets, there'd surely be a run on the banks much like the 1930s, the current account deficit would become unserviceable, the budget deficit would go into default, and so on. Your basic third world economic crisis scenario."

http://www.thinkandask.com/news/thedollar.html

More education about the Euro and the US Economy:
http://www.cfoss.com/sin.html

Last edited by MadseasoN; 11-27-2006 at 10:15 PM.
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Old 11-28-2006, 12:13 AM   #2
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We've been headed this route for quite some time, but americans have become so short sighted in their fame and vanity that planning breakfast would be too much for most to phathom. Other countries would applaud the downfall of the U.S. because it does not have the same socialist ideas they want us to have.
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Old 11-29-2006, 08:57 AM   #3
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Den, it won't get that bad. I for one welcome a weak dollar. I export 80% of what I make so a weak dollar would help my international sales. I am already walking all over my European competitors and with the Chinese Government in my cross hairs, a weak dollar would help me take more market share away from them.
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Old 11-29-2006, 05:50 PM   #4
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What do you export?
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Old 11-29-2006, 05:53 PM   #5
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Quote:
Originally Posted by Rick H.I.C.
What do you export?
Heavy equipment.

Oilfield related.
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Old 11-29-2006, 06:09 PM   #6
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kewl
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Old 11-29-2006, 09:17 PM   #7
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Almost two-thirds of the world's currency reserves are kept in dollars, since oil importers pay in dollars and oil exporters keep their reserves in the currency they are paid in. This effectively provides the U.S. economy with an interest-free loan, as these dollars can be invested back into the U.S. economy with zero currency risk.

If all these countries started 'cashing' in their Dollars .... we be in trouble.
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Old 12-01-2006, 10:13 AM   #8
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The slide continues

http://www.ft.com/cms/s/5f9c46dc-80a...0779e2340.html
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