The Dollar Is Weakening... - Page 2

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Author	Replies: 21 / Views: 2,761	Page: of 2

John Paul Valued Member United States 232 Posts	Posted 05/29/2009 10:31 pm I agree with wd - I don't think hyper-inflation of the USD is likely in the next few years. True, the fed is increasing the money supply, but bad loans and a reduction in credit (credit lines to consumers and business) etc. is reducing it as fast if not much faster. Also, for the USD to have hyperinflation there needs to be something that folks who hold dollars want to buy more. No currency at this point is so secure that you would want to risk the move away from dollars in order to buy it. Bad loans to Latin America and Eastern Europe threaten the Euro, and the Japanese economy is in bad shape which makes the yen not so attractive either. Frankly, given the global nature of the economic problems, I don't think that China or other big players will be interested in innovation right now. Once the world economy is in better shape, however, they may gradually reduce their dollar holdings. JP Report this Post to the Staff
hhbkiddo Pillar of the Community Canada 1248 Posts	Posted 05/30/2009 4:32 pm Hate to ask... did you all buy canadian and or Australian dollars? you would have made 10 % easy in week... still time... as gold and silver will continue to rise another 15-20 % by late fall... did you guys hear that one:?: when Obama took office his people knew what had to be done, so they placed an order in Germany with the largest Printing press manufacturer in the world. Why? to print more $$$$$. last week he got a call from the Germans suggesting the Govt"s check bounced, but they would take Gold coins instaed.... Report this Post to the Staff
wd1040 Pillar of the Community United States 3098 Posts	Posted 05/30/2009 5:42 pm I bought silver. 27%? That's swell enough. Also, get ready for the summer market. Normally, well, since the late 1990s, commodities will go up during the summer. Even though I'm selling some silver now, I'm buying more. Also, I wonder if a Yank like me can open an Aussie CD. I admire your central bank's interest rate! The highest in the western world! Report this Post to the Staff
hhbkiddo Pillar of the Community Canada 1248 Posts	Posted 05/30/2009 10:15 pm I have tried to get a bank approval DWN under for taking part in a permanent auction place... it is as hard as finding teeth in a henn and probably next to impossible. I live in canada. though, I can move and work there without any problems and then it is easy. AND, I was prepared to put 10K in an account as security. they said they would give me an account with the 10K making me interest, but nothing else...and they said something about taxes....grrrrrrrrr hhb forget it unless u live there maybe I approached it wrong Report this Post to the Staff
John Paul Valued Member United States 232 Posts	Posted 05/30/2009 10:48 pm I haven't bought any Canadian or Australian dollars - too much of a wimp to do the For-ex thing, at least for now. As for opening a foreign bank account, I haven't tried in ages but from what I understand it is very difficult if you can't show up at the foreign bank in person. Would love to hear if someone had a different experience though. Report this Post to the Staff
wd1040 Pillar of the Community United States 3098 Posts	Posted 05/31/2009 01:21 am What I do is pay a small premium at the local Wells Fargo and get physical notes in uncirculated condition. They're slightly more expensive but then that's a small price to pay for collector unc notes. Report this Post to the Staff
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