Yeah I write plenty of my own stuff something you couldn't know just having joined the forum.
I have been on this forum for about seven months and I am the only person that has continually stated that the economy is the central issue in the elections and that neither the Democrats or the Republicans have any idea how to deal with the inevitable collapse of the world's markets and I was also adamant that the bail out would do NOTHING to stave of the crisis. The neo-conservatives of course have got up my nose about. Now as the stock markets open around the world I have indulged myself by posting the latest updates from Bloomberg's chronically this complete implosion of the world economy. There is no safe place to invest you Euros anymore, I'd be keeping them in the cigar box for sure. On Oct 6, 3:32 pm, "++" <[EMAIL PROTECTED]> wrote: > Q. Does anyone on this forum actually write their own stuff or is it > just a paste palace? > > At any rate, on the off chance that there is some vaguely intelligent > life form out there, a buck thirty six and something is no great > drop. The euro was originally designed to parity with the dollar. > During a relatively long length of time when it wa trading at 86 - > 87cents to the dollar to the dollar, I tried to figure out a way to > buy euros. This was, of course, way before people started trading the > fourex market through programs of dubious vlue on TV. No one knew how > to buy them outside one little exchange in downtown DC notable not so > much for trading as a place to get a little cash available so that > when you landed wherever, you could pay for your taxi and some > snacks.The fees were horrendous. But the euro is still ultra high > against the dollar. In lieu of that, like a lot of tourists, I've my > little collection of forty or so euro coins left over from a trip, > right there in the same little cigar box that holds the Bulgarian > currency and marks that no one will trade at all anymore. A little > curiosity for children and other friendly innocents. > > Frank wrote: > > Euro Falls to 13-Month Low as Credit Crisis Spreads to Europe > > By Stanley White and Candice Zachariahs > > > Oct. 6 (Bloomberg) -- The euro slid to a 13-month low against the > > dollar as a deepening credit crunch forced European governments to > > pledge bailouts of troubled banks and increase protection for > > depositors. > > > The 15-nation currency fell to the lowest in more than two years > > versus the yen as Germany joined with banks and insurers to bail-out > > property lender Hypo Real Estate Holding AG and Belgium announced a > > revised deal to rescue Fortis, the largest Belgian financial-services > > firm. The yen also gained against the Australian and New Zealand > > dollars as investors pared holdings of higher-yielding currencies > > funded with Japan's currency. > > > ``Everything coming out has been fairly euro-negative,'' said Alex > > Sinton, a senior currency dealer at ANZ National Bank Ltd. in > > Auckland. ``The euro zone is the second domino of the globe to be > > falling over after the U.S.'' > > > The euro declined to $1.3648 at 9:45 a.m. in Tokyo from $1.3772 late > > in New York on Oct. 3. It earlier reached 1.3610, the lowest since > > Sept. 5, 2007. The euro fell to 141.97 yen, the weakest since May 18, > > 2006, and traded at 142.61 yen from 145.11 yen. The dollar bought > > 104.46 yen from 105.32 yen. > > > Against the pound, the euro fell to 77.15 pence, the lowest since > > March 14. It also declined to 1.5379 Swiss francs, the weakest in more > > than six months. > > > The German government and the country's banks and insurers agreed on a > > 50 billion euro ($68 billion) rescue for Hypo Real Estate after an > > earlier bailout faltered. > > > European Bailouts > > > BNP Paribas SA, France's biggest bank, will take control of Fortis's > > units in Belgium after a government rescue of the Brussels and > > Amsterdam-based company failed. > > > The yen rose to 79.11 per Australian dollar from 81.48 late in New > > York on Oct. 3. It also advanced to 68.23 versus the New Zealand > > dollar from 69.76 and to 51.0898 against the Brazilian real from > > 51.5240. > > > Japan's currency was the best-performer in September and the only > > currency to appreciate against the dollar as a credit market collapse > > drove Lehman Brothers Holdings Inc. into bankruptcy and sent bank > > borrowing costs in Europe to record highs. > > > Deutsche Bank AG, the biggest trader of foreign exchange, says the yen > > will rise 5 percent in coming months. New York- based Morgan Stanley > > is telling clients to buy the currency versus the euro and pound. > > > Unbeatable Yen > > > After seven years of providing the cheapest source of funds for > > investors buying higher-yielding New Zealand dollars, Australian > > dollars and Brazil reais, the yen is appreciating as $587 billion of > > subprime mortgage-related losses force banks to restrict credit. It > > strengthened 4.4 percent on a trade-weighted basis in September, > > according to the Bank of Japan's effective exchange rate, the most > > since August 2007, when the seizure in capital markets began. > > > ``We are in a multi-year trend reversal,'' said Paresh Upadhyaya, a > > senior vice president at Putnam Investment LLC in Boston who helps > > manage $50 billion in currency assets. ``We are going to see a global > > central bank easing cycle. The yen is the place to be in this > > environment of economic slowdown and heightened volatility.'' > > > Futures traders increased their bets that the yen will gain against > > the U.S. dollar, figures from the Washington-based Commodity Futures > > Trading Commission show. > > > Currency Futures > > > The difference in the number of wagers by hedge funds and other large > > speculators on an advance in the yen compared with those on a drop -- > > so-called net longs -- was 43,022 on Sep. 30, compared with net longs > > of 31,939 a week earlier. > > > The dollar fell for a fourth day against the yen on speculation > > reports will show a deepening slump in the U.S. economy. Pending home > > sales fell 1.1 percent in August after a 3.2 percent decline in the > > previous month, according to a Bloomberg News survey. The National > > Association of Realtors will release the data on Oct. 8. > > > The U.S. Congress approved a financial-market bailout on Oct. 3, > > authorizing the government to spend as much as $700 billion buying > > troubled assets from financial institutions reeling from record home > > foreclosures. > > > ``It's unwise to buy a currency which is both in recession and having > > a banking crisis,'' Peter Pontikis, a treasury strategist at Suncorp- > > Metway Ltd. in Brisbane. ``What's not going to help the bullish case > > in at least the short-term is that they have an as yet unresolved > > banking cloud over the U.S. system.'' > > > The dollar will weaken to $1.45 per euro over the next month, he said. > > > To contact the reporter on this story: Stanley White in Tokyo at > > [EMAIL PROTECTED]; Candice Zachariahs in Sydney at > > [EMAIL PROTECTED] > > > Last Updated: October 5, 2008 21:01 EDT --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. 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