Say goodbye to the Euro
- Thread starter Gcapman
- Start date
Yeah I remember when Iran said it wanted to be paid in Euros. I laughed my ass off because I knew that sooner or later they would wish they had never heard of the Euro.
Euro was just a French attempt to counter American influence. European countries have never gotten along for long and had no real business of ever trying to operate under a common currency.
The Euro dollar exchange today is at the same level where it was 2007.
Tell me, how abundant were stories back then about how strong the USD was as there are today?
Only 9 months later this is what Volcker had to say about the USD:
'You don't have to predict it. We're in it." Thus did Paul Volcker respond to a question Tuesday about whether he still predicted a "dollar crisis" in the coming years.
Perception about currency strength all depends where you're coming from.
I'm guessing a lot of the noise about the resurrection in the USD is just relief for not seeing a 1Euro 2$ exchange....
Yet.
"Yeah I remember when Iran said it wanted to be paid in Euros. I laughed my ass off because I knew that sooner or later they would wish they had never heard of the Euro."
It was actually in 2000 almost at the exact low for â¬/$......I tried to employ Saddam Hussein to trade spot eur.usd for me, but he said he had other things on his mind. Still, probably the best trade of the new millennium though.
It was actually in 2000 almost at the exact low for â¬/$......I tried to employ Saddam Hussein to trade spot eur.usd for me, but he said he had other things on his mind. Still, probably the best trade of the new millennium though.
IMO it's quite telling that the gloom and doom over the Dollar were NEVER higher in the last 20 years than in these last 24 months.
The collapse was always right around the corner according to the bears and was just a question of time. The "USD was done", the "empire has fallen" and we were to welcome "King EUR". The USD perma bears were bloggin how the USD could "collapse 20% overnight" and how it's exchange rate is right on a trajectory with the Mexican Peson and the Zimbabwe Dollar etc. etc.
What they miss is that we're right back to 2005 in EURUSD. 5 years of nothing. 5 years of endless screaming of the imminent collapse and we're back to square zero.
As a trader I find this interesting. The screaming and yelling of the Dollar bears got louder and louder, but the Dollar refused to make new lows in 2009 and thus far in 2010.
The more the idiots scream and call this little USD rally an amazing gift of the market to exit the terribly flawed Dollar the better. I'll stay long USD/short everything else until the USD reverses course. My levels are DX 76 for exit long and 75 for re-entering short.
Maybe, just mabye (!) this is the start of a multi-year bull market. If it isn't, I'll take a small loss and simply short the USD again. If it is, I'll clean up and - best of all - take money from the pathological Dollar haters.
u call this an analysis based upon logic? u have found maybe one counter example and say the hyperinflation thesis is out the window,.
u don't bother to delve into the reasons that might this scenario unique. or just accept it the uniqueness of this scenario.
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from makloda-
The USD perma bears were bloggin how the USD could "collapse 20% overnight" and how it's exchange rate is right on a trajectory with the Mexican Peson and the Zimbabwe Dollar etc. etc.
do u know the date of the tipping point of anything? jim rogers never says he does but he waits patiently with his positions.
Jim Rogers is of an opinion that at some point there will be a global currency crises, not just in USD or EUR. Time will tell.
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