posted on March 13, 2003 06:43:54 AM new
Rather than continuing with the name calling, insults, etc. I'd like to ask Irene if she does or does not agree with Reamond's statement: impacting a country's economy is true. Since you have experience in this area I'd like to know if you agree that this can or cannot be done please.
posted on March 13, 2003 07:54:35 AM new
Well, Linda, for starters I'd be really interested in how Reamond thinks the U.S. will go after German currency, considering Germany doesn't have its own currency. Germany abandoned the German mark some time ago in favor of the European Euro which Germany shares with a number of other European countries.
Here's a chart showing the performance of the U.S. dollar against the Euro so far this year:
posted on March 13, 2003 08:11:22 AM new
The UK is considering going to the EURO too, aren't they? Thought I'd read that recently.
I appreciate your chart, but to me...I don't understand what it's showing. sorry...no bean counter here. Since the graph is headed down is that the value of the US dollar declining compared to the EURO $$? And, in your opinion, if what I've guessed is true, could part of the reason be the billion dollar oil deals the French and Germans have made with Iraq?
posted on March 13, 2003 08:19:06 AM new
The chart reflects weakness in the U.S. dollar. That's not just against the Euro either. Our Canadian dollar hasn't been this strong against the U.S. dollar in years.
It's been pissing me off too. I have a fair amount of money from eBay sales sitting in my New Jersey bank account which I've been wanting to transfer to my Canadian account for weeks. I've been holding off hoping the U.S. dollar will strengthen so I can get a better rate of exchange.
posted on March 13, 2003 08:35:10 AM new
Well...hang in there....the exchange rate might just go up again and you'll get a better return on your US$.
Throughout my adult life the currency rates have always fluctuated up and down. Sometimes Canadian money being worth much less that the US $ and then later that reverses again.
You didn't answer my question about the Iraq oil deals with France and Germany being partly a reason the EURO $ are up though.
posted on March 13, 2003 08:48:59 AM new
I haven't been following the Euro, Linda, for quite some time. I'm sure if you looked in the currency section of a financial newspaper you'd find the explanations. I do know that your economy is a weaker than the Canadian economy right now. Plus, whenever there is threat of war, investors tend to flee to a safer currency. War with Iraq will be expensive too.
Even assuming Iraq oil deals were the reason that the Euro was strong (which I highly doubt), the increasing certainty of war between the U.S. and Iraq should have made the Euro weaken, not strengthen.
Irene
[ edited by stockticker on Mar 13, 2003 08:50 AM ]
posted on March 13, 2003 10:41:09 AM new
mlecher- And I suppose you were a VP at a Fortune 500 company. You should be a volunteer advising the Democratic party with your wonderfully cogent posts.
There's a meetin' here tonight for all you Fortune 500 executives
posted on March 13, 2003 11:10:04 AM new
Oh oh, the dollar is rallying today. I guess the word is out that there might be a run on French, German, and Russian currency - who could be ditching Euros when America is soooo wrong? A credit crunch of these 3 countries will be next.
Also watch the Pound against the Euro. If Great Britain stands firm, the Pound will rise against the Euro.
Now I know the US government couldn't cause these things to happen. Yeah, right.
posted on March 13, 2003 11:29:49 AM new
Hey Linda- Notice that Irene the finanacial expert didn't answer your question about whether the US government can impact other economies ?
Governments intervene all the time in currency arbitrage. The country with the deepest pockets and furtherest reach is top dog in these markets. Weak countries that attempt to prop up currencies lose big time to people like George Soros, a person who Irene must be familar with- without looking him up on the internet, that is, if she knows what she says she knows about currency arbitrage.
The US can bury Soros or any other economies in currency arbitrage. Soros does not short huge positions on curruncy of the US because the US can turn his lights out overnight.
He does go after countries like Thailand, and European countries.
If someone like Soros can bring a country's currency down, and cause a panic in Asia, which the US stemmed, I think the US can and has done the same thing, and is holding this over the heads of beligerents.
posted on March 13, 2003 11:36:32 AM new
Irene the Canadian should know by the actions of her own country what is at risk by tweaking the US over Iraq.
Her government walks a fine line and they know it. The US can have a huge impact on the Canadian economy in short order.
By the way Irene, what's negative for the US about a weak dollar? And does it make any difference who it is weak against ?
posted on March 13, 2003 11:45:58 AM newNotice that Irene......didn't answer your question about whether the US government can impact other economies? Okay, I'll ask her again....maybe between the two of you I'll learn something.
And Reamond...is what you're talking about similar to what happened to Turkey's stock market the day after they decided they weren't going to left us use their bases [that we built]?
posted on March 13, 2003 11:49:30 AM new
Credentials???? Is AW going to start requiring us to list our credentials now in order to post? I hope not....
posted on March 13, 2003 11:50:08 AM new
Actually, a weaker US $ is good in our current economy. It makes our exports cheaper and we have too much money sitting on the sidelines that needs to be put to work. We don't need much foreign investment at the moment
posted on March 13, 2003 11:54:19 AM new
I'll answer you, Linda, but it will be my last post to this thread. Poor Reamond sounds as if he is about to pop a blood vessel.
Yes certainly the U.S. government can affect the economies of other nations of the world and other nations of the world can retaliate in kind. Trade is a two-way street and boycotts or trade restrictions can work both ways.
Of course if the U.S. were to drop a nuclear bomb on Paris or Berlin, I'm sure that would affect the value of the Euro too.
Irene
[ edited by stockticker on Mar 13, 2003 11:54 AM ]
posted on March 13, 2003 12:12:54 PM new
We don't need no stinkin' credentials here.....after all"
The AW Round Table is
A place to kick back, relax, and have fun! Share a story, tell a joke, write a poem, make a friend...
-------
Thanks Irene...for answering my questions.
-------------
Reamond....There are two that I think you might 'fall' into on your list....but the one I know doesn't apply is 'taught high school for 30' years.
---------
posted on March 13, 2003 12:26:03 PM newYes certainly the U.S. government can affect the economies of other nations of the world and other nations of the world can retaliate in kind. Trade is a two-way street and boycotts or trade restrictions can work both ways.
I have made no mention of trade. The US can wreak havoc on their economies without any trade restrictions.
Irene knows nothing about currency arbitrage. Any Fortune 500 "financial analyst" would absolutely have to know about currency arbitrage unless it is one of those Forune 500 corporations that doesn't do any internation sales, of which I can not think of one that has no international commerce.
The proof is in the pudding. Credentials of bulletin board posters are meaningless.
But Irene, there is no reason to run after I call your bluff. No veins are popping on me.
posted on March 13, 2003 12:58:25 PM new
If the Euro doesn't "belong" to France and Germany, who does it belong to? Are they borrowing it from someone ?
I said the the currencies or France, Germany, and Russia. Nowhere did I mention the Franc or Mark or Ruple.
In any event, France and Germany do have currency, and the US can impact them.
I can also see no quicker way to totally alienating the other nations of Europe (and the U.K.) and the rest of the world than going after the Euro
We can go after the Euro and specifically target Germany and France and still protect the others by backing their banks with dollar backed currency reserves and denying it to others.
But if you look at the list of countries using the Euro- Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, and Greece, only a few are offering any support to the US, and that support is wobbly.
4)The British are our friend. Amen, The Canadians are our Friends. Amen. France Sucks. Amen
5)I am the Emperior of the Universe.
6) Here's the Blind Orphan Bunny story again.
THE BUNNY AND THE SNAKE
Once upon a time (allegedly) in a nice little forest, there lived an orphaned bunny and an orphaned snake. By a surprising coincidence, both were blind from birth.
One day, the bunny was hopping through the forest, and the snake was slithering through the forest, when the bunny tripped over the snake and fell down. This, of course, knocked the snake about quite a bit.
"Oh, my," said the bunny, "I'm terribly sorry. I didn't mean to hurt you. I've been blind since birth, so, I can't see where I'm going. In fact, since I'm also an orphan, I don't even know what I am."
"It's quite OK," replied the snake. "Actually, my story is much the same as yours. I, too, have been blind since birth, and also never knew my mother. Tell you what, maybe I could slither all over you, and work out what you are, so at least you'll have that going for you."
"Oh, that would be wonderful" replied the bunny.
So the snake slithered all over the bunny, and said, "Well, you're covered with soft fur; you have really long ears; your nose twitches; and you have a soft cottony tail. I'd say that you must be a bunny rabbit."
"Oh, thank you! Thank you," cried the bunny, in obvious excitement.
The bunny suggested to the snake, "Maybe I could feel you all over with my paw, and help you the same way that you've helped me."
So the bunny felt the snake all over, and remarked, "Well, you're smooth and slippery, and you have a forked tongue, no backbone and no balls .... I'd say you must be French." (or Hans Blix!!!!!)
posted on March 13, 2003 02:39:41 PM new
stockticker.. I think you missed one, on who has gone with the Euro
the Vatican, I believe... coin has picture of the Pope on it, and apparantley p*ssed off people in the other 'Euro countries' who are athiest or non Catholic.
Art Bell Retired! George Noory is on late night coasttocoastam.com
posted on March 13, 2003 03:04:22 PM new
I was sent thes quotes and what have you today. Thought some would enjoy them. I'd put them on the joke page but it's not much of a joke. If you know what I mean.
Amen,
Reverend Colin
"France has neither winter nor summer nor morals. Apart from these drawbacks it is a fine country. France has usually been governed by prostitutes." ---Mark Twain
"I would rather have a German division in front of me than a French one behind me."
--- General George S. Patton
"I just love the French. They taste like chicken!"
---- Hannibal Lecter
"Going to war without France is like going deer hunting without your accordion."
--Norman Schwartzkopf
While speaking to the Hoover Institution today, Secretary Donald Rumsfeld was asked this question:
"Could you tell us why to date at least the Administration doesn't favor direct talks with the North Korean government? After all, we're talking with the French."
The Secretary smiled and replied:
"I'm not going there!"
"We can stand here like the French, or we can do something about it."
---- Marge Simpson
"As far as I'm concerned, war always means failure"
---Jacques Chirac, President of France
"As far as France is concerned, you're right."
---Rush Limbaugh,
"The French are a smallish, monkey-looking bunch and not dressed any better, on average, than the citizens of Baltimore. True, you can sit outside in Paris and drink little cups of coffee, but why this is more stylish than sitting inside and drinking large glasses of whiskey I don't know."
--- P.J O'Rourke (1989)
Next time there's a war in Europe, the loser has to keep France.?
"The only time France wants us to go to war is when the German Army is sitting in Paris sipping coffee."
--- Regis Philbin
An old saying:
Raise your right hand if you like the French....
Raise both hands if you are French
"You know, the French remind me a little bit of an aging actress of the 1940s who was still trying to dine out on her looks but doesn't have the face for it."
---John McCain, U.S. Senator from Arizona
"The last time the French asked for 'more proof' it came marching into Paris under a German flag."
--David Letterman
"You know why the French don't want to bomb Saddam Hussein? Because he hates America, he loves mistresses and wears a beret. He is French, people."
--Conan O'Brien
"I don't know why people are surprised that France won't help us get Saddam out of Iraq. After all, France wouldn't help us get the Germans out of France!"
---Jay Leno
How many Frenchmen does it take to change a light bulb?
One. He holds the bulb and all of Europe revolves around him
Germany abandoned the German mark some time ago in favor of the European Euro which Germany shares with a number of other European countries.
Since the graph is headed down is that the value of the US dollar declining compared to the EURO $$? And, in your opinion, if what I've guessed is true, could part of the reason be the billion dollar oil deals the French and Germans have made with Iraq?