HFBoards

Go Back   HFBoards > General Hockey Discussion > The Business of Hockey
Mobile Hockey's Future Become a Sponsor Site Rules Support Forum vBookie Page 2
The Business of Hockey Discuss the financial and business aspects of the NHL. Topics may include the CBA, work stoppages, broadcast contracts, franchise sales, and NHL revenues.

Decline of the US Dollar

Reply
 
Thread Tools
Old
10-10-2009, 07:00 PM
  #76
Zih
Dater's Gonna Hate
 
Zih's Avatar
 
Join Date: Dec 2008
Location: Colorado
Country: United States
Posts: 2,306
vCash: 50
Quote:
Originally Posted by bleed_oil View Post
Excellent analysis.... yes a devalued US dollar is pretty much inevitable.
Theres one fact or issue that you are over looking though... demographics. With respect to the issue of American production and continued dominance of global economics, the biggest future barrier will be demographics. Fundamental demographics and population structures favor the developing world. Consumption is a function of population structure. When demographics skew towards retirement a nation is forced to become export oriented - look at the case study of Japan for an example. Domestic consumption is spurred young people borrowing money, raising families, buying things and so forth... Older demographics are more favorable towards savings and fixed income investments.
Another issue we haven't touched on is that of household and personal debt levels...
Good thing the U.S. is still growing at a steady pace, mostly due to 'them dirty imgrants.'

No one should be surprised by the USD going down. It's been inevitable ever since the late 1970s, when US manufacturing collapsed. The US started importing consumer goods and exporting very little. High trade imbalance -> currency devalues -> manufacturing returns -> trade balances.

And by the way, the U.S.'s debt sounds so huge because our economy is so huge. Our debt/GDP ratio is still much lower than, for instance, Europe or Japan. So long as the economy starts growing again, whatever debt we hold will shrink in importance.

Zih is online now   Reply With Quote
Old
10-10-2009, 07:49 PM
  #77
Dado
Guest
 
Country:
Posts: n/a
vCash:
Quote:
Originally Posted by Zih View Post
It's been inevitable ever since the late 1970s, when US manufacturing collapsed.
The US is far and away the world's largest manufacturer.

Quote:
The US started importing consumer goods and exporting very little.
The US exports about as much as China and Germany - which is to say those three countries are far and away the world's largest exporters (eg, Japan exports 1/2 of what any of those 3 export).

  Reply With Quote
Old
10-10-2009, 08:19 PM
  #78
Dado
Guest
 
Country:
Posts: n/a
vCash:
Quote:
Originally Posted by bleed_oil View Post
Also how does that advise about "amateur speculators" hold up when many of the worlds largest hedge funds and notable investors are betting against the USD.
The Soros comments you are referring to were made a long time ago, and he had his short-dollar positions staked out long before the crisis hit. An example of his more recent comments would be...

Quote:
Originally Posted by George Soros
"I don't expect the dollar to lose much value against the euro, on the contrary."

  Reply With Quote
Old
10-10-2009, 08:20 PM
  #79
Dado
Guest
 
Country:
Posts: n/a
vCash:
Quote:
Originally Posted by bleed_oil View Post
...the USD's decrease will not be immediate or as dramatic as the original article suggested...
If you don't believe in a sharp, quick decline in the USD, then we don't have a significant bone of contention on this issue.

Cheers.

  Reply With Quote
Old
10-10-2009, 09:24 PM
  #80
bleed_oil
Registered User
 
bleed_oil's Avatar
 
Join Date: Aug 2005
Posts: 3,844
vCash: 500
Quote:
Originally Posted by Dado View Post
The Soros comments you are referring to were made a long time ago, and he had his short-dollar positions staked out long before the crisis hit. An example of his more recent comments would be...
Yes thats true. His original short dollar position has been modified.
Take a listen to his comments from this year:
http://www.ritholtz.com/blog/2009/04...n-stocks-gold/
His current position is that the dollars status as the world reserve currency will have to be "modified"
As for his position on the Euro, anyone long the Euro vs the Dollar is not going to be any further ahead. European demographics are even less favorable than American demographics and European economies are just as fragile.

bleed_oil is offline   Reply With Quote
Old
10-10-2009, 09:28 PM
  #81
bleed_oil
Registered User
 
bleed_oil's Avatar
 
Join Date: Aug 2005
Posts: 3,844
vCash: 500
Quote:
Originally Posted by Dado View Post
If you don't believe in a sharp, quick decline in the USD, then we don't have a significant bone of contention on this issue.

Cheers.
A sudden collapse is completely improbable when one considers the number of big players who would be endangered by such a move.
I think whats at debate here is long term secular decline of the dollar vs a return to the status quo of the mid to late 90's i.e. prior to the commodity bull market and the Bush administrations mismanagement of the American economy.

bleed_oil is offline   Reply With Quote
Old
10-11-2009, 08:20 AM
  #82
Ola
Registered User
 
Ola's Avatar
 
Join Date: Apr 2004
Location: Sweden
Country: Sweden
Posts: 17,797
vCash: 500
Quote:
Originally Posted by bleed_oil View Post
As for his position on the Euro, anyone long the Euro vs the Dollar is not going to be any further ahead. European demographics are even less favorable than American demographics and European economies are just as fragile.
Say hello to Turkey my fellow Europeans...

...seriously though -- you are 100% correct. The US have litterary long lived on mexicans (and other) immigrants. Maybe its not politically correct to say that, I don't know, I don't mean anything with it other then that the US compared to say Italy have a much younger population due to immigrants. In other words, they have more guys who can pay the pensions et c for the older guys.

Thats a big problem in Europe. A very big problem. Europe have tryed, and some countrys have been quite succesful with it, to hand that problem by several social measures ment to let womens work and have childrens at the same time. And providing everyone with a very strong social safenet (something Japan don't have for example, hence they save a ton of money instead). Which should let the population gamble more, like not be afraid of building a familiy for economic reasons.

For example in Sweden if you have a kid you get 450 paid (80% of your salary) parental leave days. Education is free for everyone (parents don't need to save any money). Health care is free (you don't need to worry about healthinsurances et c). The unemployment insurance is very strong (if you have worked 6 months you can go unemployed for years by just taking small measures and still get paid 80% of your old salary). And very storng anti-discrimination laws of parents. For example, a women starts working at a lawfirm in 1998 and a man in 1999. If the women works 1 year and then gets 10 straight kids and is home for 10 straight years, the law firm cannot make the man a partner before the women for the reason that she have not worked for 10 straight years. To be home with a kid is seen as a basic human right that can't effect a persons career negative in any way. Of course its not 100% waterproof for thoose who want to get around it. But it helps.

But here in Europe we also, just like Japan, had a huge populationboom during and after WWII and that part of the population is about to retire now. Turkey on the other hand, just like Mexico I assume, have a very young population that is gorwing heavily right now. The social measures alone in Europe cannot carry that burden. Some countrys, like Italy, have a very old population. Hence the idea to make Turkey a member of the EU. To make Turkey a member of the EU is extremely difficult, the EU is a very wide institute with very strong (western/social) demands on its memebers. Turkey is miles away from thoose demands on many. Still a process is set in motion to make Turkey a member of the EU within 15-30 years.

Ola is online now   Reply With Quote
Old
10-11-2009, 09:46 AM
  #83
jol
Registered User
 
jol's Avatar
 
Join Date: Jan 2003
Location: Miami Beach, Florida
Posts: 1,593
vCash: 500
Quote:
Originally Posted by Ola View Post
...seriously though -- you are 100% correct. The US have litterary long lived on mexicans (and other) immigrants. Maybe its not politically correct to say that, I don't know, I don't mean anything with it other then that the US compared to say Italy have a much younger population due to immigrants. In other words, they have more guys who can pay the pensions et c for the older guys.

Thats a big problem in Europe. A very big problem. Europe have tryed, and some countrys have been quite succesful with it, to hand that problem by several social measures ment to let womens work and have childrens at the same time. And providing everyone with a very strong social safenet (something Japan don't have for example, hence they save a ton of money instead). Which should let the population gamble more, like not be afraid of building a familiy for economic reasons.
But that's sort of like temporary problem, baby boomers are dead within 20-30 years and age pyramid looks very well shaped again.

JOL

jol is offline   Reply With Quote
Old
10-11-2009, 01:36 PM
  #84
Ola
Registered User
 
Ola's Avatar
 
Join Date: Apr 2004
Location: Sweden
Country: Sweden
Posts: 17,797
vCash: 500
Quote:
Originally Posted by jol View Post
But that's sort of like temporary problem, baby boomers are dead within 20-30 years and age pyramid looks very well shaped again.

JOL
30 years aint so "only"...

...30 years ago Gretz was a rookie in this league...

Ola is online now   Reply With Quote
Old
10-11-2009, 02:11 PM
  #85
GC72
 
GC72's Avatar
 
Join Date: May 2009
Posts: 50
vCash: 500
when the 'demise of the USD' gets so much air time on a hockey board, it's prob close to a bottom. The gen public is a notoriously good contrary indicator and the sell/short the USD is the most crowded trade on the board right know - always a good sign to stay away, or go the other way.

Imo the easy money has been made on the weak USD and the mkt has mostly in the effect of future US debt issuances - this issue has been talked about/worried about obsessively by the mkt over the past 6 months therefore mostly priced in. What is the alternative to the USD as the world's reserve currency? The Euro - doubt it - Europe has it's own, major, financial/growth issues. A basket of currencies, maybe - if we don't get a double dip recession and we see some sustained growth in the US, we'll see the USD rebound in a big way and all this talk of reserve currency change will be forgotten.

GC72 is offline   Reply With Quote
Old
10-11-2009, 02:56 PM
  #86
bleed_oil
Registered User
 
bleed_oil's Avatar
 
Join Date: Aug 2005
Posts: 3,844
vCash: 500
Quote:
Originally Posted by Ola View Post
Say hello to Turkey my fellow Europeans...

...seriously though -- you are 100% correct. The US have litterary long lived on mexicans (and other) immigrants. Maybe its not politically correct to say that, I don't know, I don't mean anything with it other then that the US compared to say Italy have a much younger population due to immigrants. In other words, they have more guys who can pay the pensions et c for the older guys.

Thats a big problem in Europe. A very big problem. Europe have tryed, and some countrys have been quite succesful with it, to hand that problem by several social measures ment to let womens work and have childrens at the same time. And providing everyone with a very strong social safenet (something Japan don't have for example, hence they save a ton of money instead). Which should let the population gamble more, like not be afraid of building a familiy for economic reasons.

For example in Sweden if you have a kid you get 450 paid (80% of your salary) parental leave days. Education is free for everyone (parents don't need to save any money). Health care is free (you don't need to worry about healthinsurances et c). The unemployment insurance is very strong (if you have worked 6 months you can go unemployed for years by just taking small measures and still get paid 80% of your old salary). And very storng anti-discrimination laws of parents. For example, a women starts working at a lawfirm in 1998 and a man in 1999. If the women works 1 year and then gets 10 straight kids and is home for 10 straight years, the law firm cannot make the man a partner before the women for the reason that she have not worked for 10 straight years. To be home with a kid is seen as a basic human right that can't effect a persons career negative in any way. Of course its not 100% waterproof for thoose who want to get around it. But it helps.

But here in Europe we also, just like Japan, had a huge populationboom during and after WWII and that part of the population is about to retire now. Turkey on the other hand, just like Mexico I assume, have a very young population that is gorwing heavily right now. The social measures alone in Europe cannot carry that burden. Some countrys, like Italy, have a very old population. Hence the idea to make Turkey a member of the EU. To make Turkey a member of the EU is extremely difficult, the EU is a very wide institute with very strong (western/social) demands on its memebers. Turkey is miles away from thoose demands on many. Still a process is set in motion to make Turkey a member of the EU within 15-30 years.
With respect to Turkeys membership in the EU, I would expect this is still to be determined. From the European perspective I think people casually assume that Turkey will always want to join the EU. When one considers that there have already been hedging statements from the ruling AKP in Turkey about the country possibly tilting towards alignment with Russia and Middle Eastern countries, I would imagine after a 15-30 year wait opinions within Turkey itself towards the EU would be not nearly as favorable as today.
Check this statistic from a Time article I read earlier this year:
Support in Turkey for membership fell from over 70% in 2004 to 42% by the end of last year.

http://www.time.com/time/world/artic...920882,00.html

bleed_oil is offline   Reply With Quote
Old
10-11-2009, 03:13 PM
  #87
Gump Hasek
Spleen Merchant
 
Gump Hasek's Avatar
 
Join Date: Nov 2005
Location: 222 Tudor Terrace
Posts: 7,670
vCash: 1200
Quote:
Originally Posted by GC72 View Post
when the 'demise of the USD' gets so much air time on a hockey board, it's prob close to a bottom. The gen public is a notoriously good contrary indicator
Speaking as a contrarian trader, I agree fully with that statement.

Gump Hasek is offline   Reply With Quote
Old
10-11-2009, 05:44 PM
  #88
bleed_oil
Registered User
 
bleed_oil's Avatar
 
Join Date: Aug 2005
Posts: 3,844
vCash: 500
Quote:
Originally Posted by Gump Hasek View Post
Speaking as a contrarian trader, I agree fully with that statement.
If you were assessing the dollars current position from a strictly "by definition" POV you would be correct. You would be making a hugely contrarian bet to go long the dollar - by long I mean buying dollars for an intermediate time period NOT as a short term trader. That said, contrarian investing doesnt simply just make a bet oppositte the market, there needs to be good reasons for going agains the market. Here in Canada the single most prominent Contrarian investors are likely Stadelman and Gallander of Contra the Heard Investments. If you check there current holdings they are short the dollar through there heavy investment in RIC mines... The logic and factors against the dollar are simply too prominent and heavily weighted.


That said theres an important concept to understand. In terms of short term trading, its inevitable we see a strong correction against the current tide. The current trading direction of the dollar is too far oversold and personally I fully expect an intermediate term correction that will see weakening of precious metals and commodity pricing and appreciation of the dollar.

bleed_oil is offline   Reply With Quote
Old
10-11-2009, 08:56 PM
  #89
Gump Hasek
Spleen Merchant
 
Gump Hasek's Avatar
 
Join Date: Nov 2005
Location: 222 Tudor Terrace
Posts: 7,670
vCash: 1200
Quote:
Originally Posted by bleed_oil View Post
If you were assessing the dollars current position from a strictly "by definition" POV you would be correct. You would be making a hugely contrarian bet to go long the dollar - by long I mean buying dollars for an intermediate time period NOT as a short term trader. That said, contrarian investing doesnt simply just make a bet oppositte the market, there needs to be good reasons for going agains the market. Here in Canada the single most prominent Contrarian investors are likely Stadelman and Gallander of Contra the Heard Investments. If you check there current holdings they are short the dollar through there heavy investment in RIC mines... The logic and factors against the dollar are simply too prominent and heavily weighted.


That said theres an important concept to understand. In terms of short term trading, its inevitable we see a strong correction against the current tide. The current trading direction of the dollar is too far oversold and personally I fully expect an intermediate term correction that will see weakening of precious metals and commodity pricing and appreciation of the dollar.
I don't follow any of those Canadian traders you mentioned. The guys I follow are more senior, guys like David Dreman, and for that matter, people like Warren Buffett and Charlie Munger.

The enormity of the risk you suggest implies the greater likelihood of a successful contrarian position.

Also, to correct you a bit, that you expect to see a weakening of metals and commodity pricing and an appreciation in the USD really isn't mutually exclusive, since the vast majority of commodity prices are in fact traded in and denominated in US Dollar terms, meaning they are expressed in US dollars. If US dollars rally materially, commodity prices will fall since they are expressed in greenbacks. It is a natural offset 99% of the time.

Gump Hasek is offline   Reply With Quote
Old
10-13-2009, 11:06 AM
  #90
Ola
Registered User
 
Ola's Avatar
 
Join Date: Apr 2004
Location: Sweden
Country: Sweden
Posts: 17,797
vCash: 500
Quote:
Originally Posted by bleed_oil View Post
With respect to Turkeys membership in the EU, I would expect this is still to be determined. From the European perspective I think people casually assume that Turkey will always want to join the EU. When one considers that there have already been hedging statements from the ruling AKP in Turkey about the country possibly tilting towards alignment with Russia and Middle Eastern countries, I would imagine after a 15-30 year wait opinions within Turkey itself towards the EU would be not nearly as favorable as today.
Check this statistic from a Time article I read earlier this year:
Support in Turkey for membership fell from over 70% in 2004 to 42% by the end of last year.

http://www.time.com/time/world/artic...920882,00.html
Nah, I don't think so. The benefits would be so big for Turkey. The support for the EU sunk because EU said its 30 years away and France and many others said -"no way ever".

Its complicated for sure, but I am 100% sure that Turkey never will stand at one point where they can become members of the EU and opt not to. The question is -- how long will take for them to get to a level were they can become a member of the EU.

The way the EU works its always better to be in it then out it. Its fundamentally a no-tax area that have grown into other areas.

Ola is online now   Reply With Quote
Old
10-13-2009, 02:44 PM
  #91
Cawz
Registered User
 
Cawz's Avatar
 
Join Date: Sep 2003
Location: Oiler fan in Calgary
Country: Canada
Posts: 11,144
vCash: 500
Quote:
Originally Posted by GHOSTofMAROONSroad View Post
BTW, the Canadian dollar hit a 52 week high on Friday: over 96 cents USD at the close.

http://ca.news.finance.yahoo.com/s/0...evel-year.html

GHOST
It was up to 97 cents this morning.

Cawz is offline   Reply With Quote
Old
10-14-2009, 04:27 PM
  #92
Ola
Registered User
 
Ola's Avatar
 
Join Date: Apr 2004
Location: Sweden
Country: Sweden
Posts: 17,797
vCash: 500
Quote:
Originally Posted by Gump Hasek View Post
Speaking as a contrarian trader, I agree fully with that statement.
Why is that?

Like normally its the other way around -- for example expectations on inflation is more important then any other factor.


Last edited by Ola: 10-14-2009 at 04:34 PM.
Ola is online now   Reply With Quote
Old
10-14-2009, 04:47 PM
  #93
Gump Hasek
Spleen Merchant
 
Gump Hasek's Avatar
 
Join Date: Nov 2005
Location: 222 Tudor Terrace
Posts: 7,670
vCash: 1200
Quote:
Originally Posted by Ola View Post
Why is that?

Like normally its the other way around -- for example expectations on inflation is more important then any other factor.
Most commodities are priced in American dollars.

Think of it this way.

You owned an American car that was valued at 2,000 dollars. If you took it to Mexico and sold it for an equivalent amount, but priced in Pesos, you'd receive many more Pesos than would you American dollars. The car value is the same, but it is now being expressed in, denominated in... Pesos rather than in dollars. The car became "higher priced" because it was denominated in Pesos rather than in dollars.

Yes inflationary risk and supply and demand impact the price of commodities, and so does the currency that commodity is expressed in.

Here are some long term charts of gold and the USDX (dollar index)...
http://www.mrci.com/pdf/gc.pdf
http://www.mrci.com/pdf/dx.pdf

While not an exact counter mirror, the correlation between the dollar's fall and the rally in gold (since around 01) is not a coincidence, IMO. That I chose gold is a moot point, most commodities prices, those denominated in USD, have made similar moves; again much of it because they are expressed in USD terms, IMO.

Your mileage may vary. Feel free to believe what you wish. I do this stuff for a living, with my own $$$$$.


Last edited by Gump Hasek: 10-14-2009 at 04:54 PM.
Gump Hasek is offline   Reply With Quote
Old
10-15-2009, 02:23 AM
  #94
MAROONSRoad
f/k/a Ghost
 
MAROONSRoad's Avatar
 
Join Date: Feb 2007
Location: Maroons Rd.
Country: Canada
Posts: 4,069
vCash: 500
Canada Dollar To Rise Well Above Parity With US Dlr - Gartman

From the Wall Street Journal:

Quote:
The Canadian dollar's upward trend will take it well above parity with its U.S. counterpart and could ultimately take it more than 14% higher against the greenback from current levels, says high-profile market watcher and newsletter publisher Dennis Gartman.

The U.S. dollar, which was trading at C$1.0252 late Wednesday, could ultimately drop into the C$0.8000s, Gartman, editor and publisher of the Gartman Letter said in an interview Wednesday. A U.S. dollar drop to the top of that range would constitute a 14% appreciation in the Canadian dollar.

The Canadian dollar has risen 18% against its U.S. counterpart since the beginning of the year.

Gartman is in Toronto for the Toronto for the public listing of the Horizon AlphaPro Gartman exchange traded fund and is speaking Wednesday night at the Toronto CFA Society's annual forecast dinner.

"The Canadian manufacturing organizations will wail and gnash their teeth and decry that fact, but the fact simply is that capital is finding its way out of the United States and finding its way to Canada, and that process, I think, has only just begun," he said.

Gartman declined to attach a specific time frame for the Canadian dollar's appreciation to those levels against its U.S. counterpart, describing it as "some time in the not terribly distant future, and some time in the not (really) near future."
Link:

http://online.wsj.com/article/BT-CO-...14-714846.html

I'm not sure if that would be great for the Canadian economy as a whole especially in southern Ontario, but it would be an interesting development for the NHL's economy and probably a good thing for western Canada's economy. 80 Canadian cents buying a USD? Talk about turning the tables.

GHOST

MAROONSRoad is offline   Reply With Quote
Old
10-15-2009, 02:43 AM
  #95
MAROONSRoad
f/k/a Ghost
 
MAROONSRoad's Avatar
 
Join Date: Feb 2007
Location: Maroons Rd.
Country: Canada
Posts: 4,069
vCash: 500
U.S. Stands By as Dollar Falls

Another WSJ article:

Quote:
The dollar fell to a 14-month low against other currencies Thursday, intensifying a trend that the Obama administration has publicly suggested it opposes -- but which it appears prepared to tolerate quietly.

Many of America's trading partners, however, are pushing the other way. In Asia, traders said central banks in South Korea, Taiwan, the Philippines, Thailand, Indonesia and Hong Kong again intervened to slow the dollar's fall against their currencies.

Asian officials fear that the dollar's fall could crimp their export-driven economies
An advantage of the USD's decline is that the US's huge debt to foreigners will be easier to pay off.

Link:

http://online.wsj.com/article/SB125498941145272887.html

GHOST

MAROONSRoad is offline   Reply With Quote
Old
10-15-2009, 02:43 AM
  #96
sticknrink
Registered User
 
Join Date: Aug 2006
Location: London
Country: Canada
Posts: 7,722
vCash: 500
Until another country usurps the US as the largest consumer economy in the world, the USD will stay the reserve currency.

sticknrink is offline   Reply With Quote
Old
10-15-2009, 10:48 AM
  #97
bleed_oil
Registered User
 
bleed_oil's Avatar
 
Join Date: Aug 2005
Posts: 3,844
vCash: 500
Quote:
Originally Posted by GHOSTofMAROONSroad View Post
From the Wall Street Journal:



Link:

http://online.wsj.com/article/BT-CO-...14-714846.html

I'm not sure if that would be great for the Canadian economy as a whole especially in southern Ontario, but it would be an interesting development for the NHL's economy and probably a good thing for western Canada's economy. 80 Canadian cents buying a USD? Talk about turning the tables.

GHOST
Yep was hearing about the impact on exporters on the radio this morning on the way to work... people need to understand. This a fundamental restructuring of world economies. The US needs these changes and the rest of the world needs these changes. The US can no longer "afford" to import goods on the scale its done in the past. Systemic changes are required to adjust the existing system to a more sustainable situation. People (especially exporters) can complain all they want to, but its inevitable. Its been inevitable for a long time.

bleed_oil is offline   Reply With Quote
Old
10-15-2009, 02:13 PM
  #98
HockeyScholar
 
Join Date: Sep 2006
Posts: 607
vCash: 500
If Canadian franchises are so successful now with an 85-95 cent dollar, just imagine how much money they'll make if the dollar gets to $1.20 US.

HockeyScholar is offline   Reply With Quote
Old
10-16-2009, 01:06 AM
  #99
MAROONSRoad
f/k/a Ghost
 
MAROONSRoad's Avatar
 
Join Date: Feb 2007
Location: Maroons Rd.
Country: Canada
Posts: 4,069
vCash: 500
Dollar to Hit 50 Yen, Cease as Reserve, Sumitomo Says

Sumitomo Mitsui Bank, for those of you that might not know, is a banking interest of two of the great trading houses/firms, keiretsu, in Japan. Here's what its chief strategist is predicting regarding the USD according to Bloomberg:

Quote:
Oct. 15 (Bloomberg) -- The dollar may drop to 50 yen next year and eventually lose its role as the global reserve currency, Sumitomo Mitsui Banking Corp.’s chief strategist said, citing trading patterns and a likely double dip in the U.S. economy.

“The U.S. economy will deteriorate into 2011 as the effects of excess consumption and the financial bubble linger,” said Daisuke Uno at Sumitomo Mitsui, a unit of Japan’s third- biggest bank. “The dollar’s fall won’t stop until there’s a change to the global currency system.”
Link:

http://www.bloomberg.com/apps/news?p...d=a_A5nqmw9Dq8

That's a shocking prediction given that the USD has been worth over 100 yen for a long period of time until recently.

GHOST


Last edited by MAROONSRoad: 10-16-2009 at 02:18 AM.
MAROONSRoad is offline   Reply With Quote
Old
10-16-2009, 01:16 AM
  #100
Killiecrankie*
 
Join Date: Dec 2005
Posts: 5,999
vCash: 500
Remember when the Japanese economy was predicted to be the biggest in the world by the mid 1990's? I do.

Killiecrankie* is offline   Reply With Quote
Reply

Forum Jump


Bookmarks

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT -5. The time now is 12:45 PM.

monitoring_string = "e4251c93e2ba248d29da988d93bf5144"
Contact Us - HFBoards - Archive - Privacy Statement - Terms of Use - Advertise - Top - AdChoices

vBulletin Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
HFBoards.com is a property of CraveOnline Media, LLC, an Evolve Media, LLC company. 2014 All Rights Reserved.