Reply With QuoteI'd hardly call it "panic dollar is setting in"...the thing is though, when every other currency shows this type of behavior, it comes crashing down.
There is a reason why it hasn't happened yet (and may not for the foreseeable future)...the USD is THE backstop for the global economy. Nation states and large instutions have no other options. They have to use USD for reserve holdings, transactions, and in some cases, pegging.
When the USD goes into a "panic mode"...Civilization as we know it will change. dramatically.
Has US Dollar Decline Begun?
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Thread: Has US Dollar Decline Begun?
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04-24-2011, 06:55 PM #1Windy City ELITE MEMBER
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Has US Dollar Decline Begun?
We've been hearing it for years. A matter of 'when,' not 'if'
Maybe this is, the tipping point?
We'll have to wait and find out.
Intentional devaluing coupled with the massive economic problems, and countries slowly but steadily divesting out of the US Dollar in their currency reserves. The Greenback is getting close to it's floor.
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Don't Like a Weak Dollar? Might as Well Get Used to It
Published: Thursday, 21 Apr 2011
By: Jeff Cox
CNBC.com Staff Writer
Weakness in the US dollar, which is causing everything to go up—including gas prices, food and stocks—is unlikely to go away soon as a selling frenzy hits the currency market.
The greenback is approaching pre-financial crisis lows and threatening to smash through its all-time low when measured against the world's predominant national currencies.
A combination of factors accounts for the weakness, with the Federal Reserve's easy-money policies, huge national debts and deficits and the consequential possibility of a debt downgrade because of the financial mess in Washington leading the way.
In short, as trader Dennis Gartman noted Thursday, "the rout of the US dollar" is in full effect.
"Panic dollar selling is setting in," Gartman, a hedge fund manager and author of "The Gartman Letter," wrote in his daily commentary. "This may carry farther than any of us dream of or, worse, have nightmares of."
How low can it go?
News HeadlinesDon't go around saying the world owes you a living. The world owes you nothing. It was here first.
Mark Twain
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04-24-2011, 08:23 PM #2primeau
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04-24-2011, 09:01 PM #3Windy City ELITE MEMBER
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Good insights, Ivanry.
Originally Posted by lnvanry
Yeah, being the reserve currency and petro-currency.
A few countries are mintutely (but doing so) divesting out of the USD.Don't go around saying the world owes you a living. The world owes you nothing. It was here first.
Mark Twain
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04-25-2011, 01:46 PM #4Is Doin It 4 Da Shorteez
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the ONLY good thing about globalization and the intermingling of nations economy's is that the US is basically to big to fail "right now". the current deficit is totally manageable with the right types of decisions and planning for future increases, etc.
The thing that was supposed to protect us from this is causing most of the problems, the FED....I train differently than most, my beef is with gravity the weights on the bar are just the medium...Thanks to Wall Street your slice of the American Pie has been reduced to a crumb.
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