Re: [Goanet] US Dollar in trouble ? (Missing Para)
TRI Continental Film Festival - Dona Paula, Goa, Sep 28 - Oct 2, 2007 http://www.moviesgoa.org/tricontinental/tricon.htm For public viewing. Registration at The International Centre Goa. (Ph: +91-832-2452805 to 10) Online Media Partner: http://www.GOANET.org Hey Bosco, Honestly man, I did get my post without the first para. I am not lying. I can privately send the post only to you, if you want me to. But I went to the archives to see and verify if the entire post was circulated - and its there! I can't explain why this happened, perhaps there was some hidden character in the text that truncated the stuff? Anyway, as you know, some mysteries of the computer output can never be explained. (well - after writing this, I just checked the source code of the HTML and its there too! But there's some bunch of numbers that precede the start of the post that I didn't put them there. These numbers are probably seen as some hex code and are interpreted by the browser differently.) Anyway bud, I don't know how you got the idea that we live in Long Island (I-495 ??). We live in Westchester - currently in White Plains. But we are expected to buy a place in Scarsdale ... waiting for the real estate to take another 20% haircut in the next few months. Jim F New York. -- Original message -- From: "Bosco - Goanet Volunteer" <[EMAIL PROTECTED]> > On Mon Sep 24 20:14:19 PDT 2007, Jim Fernandes wrote: > > > This response of mine appears to have its first para missing !!! > > > How could that have happened? > > > GoaNet isn't supposed to edit the material and > > distribute it to the list in piece meal. Either > > send out the entire response or don't distribute > > it at all. > > RESPONSE: Whoaa-whoaa Jimmy..slowdown before your SUV careens off the > 495!! > ... ...
Re: [Goanet] US Dollar in trouble ? (Missing Para)
TRI Continental Film Festival - Dona Paula, Goa, Sep 28 - Oct 2, 2007 http://www.moviesgoa.org/tricontinental/tricon.htm For public viewing. Registration at The International Centre Goa. (Ph: +91-832-2452805 to 10) Online Media Partner: http://www.GOANET.org On Mon Sep 24 20:14:19 PDT 2007, Jim Fernandes wrote: > This response of mine appears to have its first para missing !!! > How could that have happened? > GoaNet isn't supposed to edit the material and > distribute it to the list in piece meal. Either > send out the entire response or don't distribute > it at all. RESPONSE: Whoaa-whoaa Jimmy..slowdown before your SUV careens off the 495!! What missing para? What "editing of material" are you referring to?? Are you still using that iPhone - where the 'i' definitely does not stand for 'intelligent'. Better chuck the iPhone and switch to that sleek Canadian device called the Blackberry. It will not chew your messages. On a serious note..a review of Goanet archives will indicate whether your 'missing paragraphs' were chewed-up by your iPhone or were edited as part of a piece meal distribution!! Please see: http://lists.goanet.org/pipermail/goanet-goanet.org/2007-September/062489.html All the best with the new house in Goa!! - Bosco Goanet Admin http://www.goanet.org Where Goans connect [Goanet] US Dollar in trouble ? (Missing Para) Jim Fernandes amigo007 at att.net Mon Sep 24 20:14:19 PDT 2007 This response of mine appears to have its first para missing !!! How could that have happened? GoaNet isn't supposed to edit the material and distribute it to the list in piece meal. Either send out the entire response or don't distribute it at all. Anyway, I have reproduced it once again, along with the second para. Yes Cornel, you are absolutely right. Hold onto anything but the US dollar or any currency that is not pegged to the US currency, with one notable exception - the Chinese Yuan. The Chinese Yuan is expected to climb up in value w.r.t the USD (inspite of the pegging) for a considerable period of time, that is, for the next 5+ years. Except for the money I saved this year and about 25% of my old money, all of my remaining investments are in non USD based assets since the middle of last year. I must say, it turned out to be a pretty good hedge. Jim F. New York.
Re: [Goanet] US Dollar in trouble ? (Missing Para)
TRI Continental Film Festival - Dona Paula, Goa, Sep 28 - Oct 2, 2007 http://www.moviesgoa.org/tricontinental/tricon.htm For public viewing. Registration at The International Centre Goa. (Ph: +91-832-2452805 to 10) Online Media Partner: http://www.GOANET.org This response of mine appears to have its first para missing !!! How could that have happened? GoaNet isn't supposed to edit the material and distribute it to the list in piece meal. Either send out the entire response or don't distribute it at all. Anyway, I have reproduced it once again, along with the second para. Yes Cornel, you are absolutely right. Hold onto anything but the US dollar or any currency that is not pegged to the US currency, with one notable exception - the Chinese Yuan. The Chinese Yuan is expected to climb up in value w.r.t the USD (inspite of the pegging) for a considerable period of time, that is, for the next 5+ years. Except for the money I saved this year and about 25% of my old money, all of my remaining investments are in non USD based assets since the middle of last year. I must say, it turned out to be a pretty good hedge. ... ... Jim F. New York.
Re: [Goanet] US Dollar in trouble ? (To Fred's Q)
TRI Continental Film Festival - Dona Paula, Goa, Sep 28 - Oct 2, 2007 http://www.moviesgoa.org/tricontinental/tricon.htm For public viewing. Registration at The International Centre Goa. (Ph: +91-832-2452805 to 10) Online Media Partner: http://www.GOANET.org Fred, I am not an economist by trade, but being a business software developer for big names on Wall Street, I have learnt quite a bit, about what is known as 'Capital Flows' and how it affects markets that have been previously under financial repression. To make a short story long :) contrary to your belief, Goa and Goans have actually benefited from an undervalued Rupee, along with the rest of India. In plain English, if one has been struggling to find enough money to buy simple bread, he can't dream of investing whatever little resources he has, to build a bakery to make the bread cheaper! You need external guys to bring in the capital, so that they can invest and build efficient bakeries and generate enough competition, so that eventually, the price of bread comes down, to the level of affordability. (Damn, do I sound like Alan Greenspan ?). Because of several factors, including the artificially low value of the Rupee and in response to offers of higher yield, foreign investors came to India with big money, which is in part helping the country to propel to new heights. Now go a step further: Take the case of Goans who left Goa to work in the Arabian Gulf and other parts of the world (that includes me ofcourse). Why would they leave Goa to work elsewhere? Not because there are no jobs in Goa. There are plenty of jobs, but those jobs in Goa aren't paying enough to suit the lifestyles of these Goans!!! These Goans decided to emigrate, because their foreign earned currency could stretch a lot further back in Goa. Much of the foreign earned money, stashed in the banks in Goa, is re-cycled back into the economy by issuing loans to entrepreneurs in Goa/India. Furthermore, if one Indian Rupee was worth one US Dollar, nobody would buy anything from India - because it would be just too expensive to buy Indian goods and services, compared to the competition. Starved of exports and foreign capital, India would have been in perennial recession. Jim F. New York. -- Original message -- From: "Frederick [FN] Noronha * फà¥à¤°à¥à¤¡à¤°à¤¿à¤ नà¥à¤°à¥à¤à¤¯à¤¾" <[EMAIL PROTECTED]> > > What does it mean to Goans who have been *badly hit* all these years > by a dollar which has grown from seven rupees to a dollar, to nearly > Rs 49 per dollar in three to four decades? And I'm not referring to > mineowners. FN > > On 21/09/2007, Jim Fernandes <[EMAIL PROTECTED]> wrote: > > > This is bad news for Goans who have substantial exposure to the USD. Various > > business news outlets have been warning about the impending collapse of the > > US dollar. Here's my summary of what is being reported in biznews in plain > English. > > --
Re: [Goanet] US Dollar in trouble ?
TRI Continental Film Festival - Dona Paula, Goa, Sep 28 - Oct 2, 2007 http://www.moviesgoa.org/tricontinental/tricon.htm For public viewing. Registration at The International Centre Goa. (Ph: +91-832-2452805 to 10) Online Media Partner: http://www.GOANET.org Yes Cornel, you are absolutely right. Hold onto anything but the US dollar or any currency that is not pegged to the US currency, with one notable exception - the Chinese Yuan. The Chinese Yuan is expected to climb up in value w.r.t the USD (inspite of the pegging) for a considerable period of time, that is, for the next 5+ years. Except for the money I saved this year and about 25% of my old money, all of my remaining investments are in non USD based assets since the middle of last year. I must say, it turned out to be a pretty good hedge. My only big screw-up is a bad timing on a bungalow we are building in Goa. The construction is currently in progress and very soon we would be forced to exchange a substantial amount of money in USD to get Rupees to pay the remaining balance. As months go by, it's only going to get worse, but I am hoping to see if I get a little lucky to change big bux during a small window. This may be of interest to many non resident Goans. You see, it has been my experience (with a frequency of 2 out of 3 times in the past 12 years that I have been in the US), that the Indian Rupee tends to fall in value or tends to stay in the neighborhood of the year's low, towards the last quarter of the calendar year. I didn't quite fully understand the phenomenon, but it's possibly because of a sudden rush by Indian importers to buy USD to pay their bills by year end. There are probably many web sites on the INTERNET where you can see this stuff for the past 12 years. So if I am lucky, I could find a nice deal in the next 3 months, after which the Rupee could zoom back up. But then again, if you analyze the fundamentals, the chances of the Rupee coming down in value in this year's final quarter are more than remote Jim F New York -- Original message -- From: CORNEL DACOSTA <[EMAIL PROTECTED]> > > Hi Jim > Many thanks for an interesting analysis re the value of the dollar. I hope > you, Mervyn, Gabe and others will send us more such info from time to time. > Are > the £ sterling and Euro the best to hold for now? > Cornel > > Jim Fernandes <[EMAIL PROTECTED]> wrote: > This is bad news for Goans who have substantial exposure to the USD. Various > business news outlets have been warning about the impending collapse of the > US > dollar. .. > .
Re: [Goanet] US Dollar in trouble ?
* G * O * A * N * E * T C * L * A * S * S * I * F * I * E * D * S * GARCA BRANCA VACATION ACCOMMODATION LOUTULIM, SOUTH GOA. For R&R; modern/clean amenities; serene, healthy and wholesome location Visit http://www.garcabranca.com for details/booking/confirmation. Gabe Menezes <[EMAIL PROTECTED]> wrote: > > Mervyn Lobo <[EMAIL PROTECTED]> wrote: > > Those of you who converted US dollars to Rupees > > last year got 40% MORE than the rate today. > RESPONSE: Today's USD/INR rate is 39.92; - 40% more > last year would have been a rate of USD/INR > 55.88...I don't think this was the case. Ah! Gabe, Most peoples eyes go glossy when it comes to numbers. The financial persons eyes, however, become extra sharp. According to Bloomberg's spot prices, the Indian rupee touched a low of 47 last year and closed at (a nine year high of) 39.84 yesterday. Thus if anyone converted USD to rupees last year, he would have got appox 15% more than today's prices. That's a lot of money. However, I still don't know where my original number of 40% came from :-( > The USD will continue to weaken to the detriment of > countries like Canada. Unemployment will rise in > Canada and is already biting especially in Ontario. Canada's current unemployment rate is the lowest in 30 years. In Alberta, they are paying $12.00 an hour to flip burgers AND a signing bonus of $3,000. Recruiters rush people at Alberta airport terminals with job offers. Ontario's manufacturing sector will soon get hit with job losses. In fact, any company that is exporting to the US will get hit if they did not hedge against the US dollar. > No easy solutions, the problem is not interest rates > - it is a credit crunch issue. Banks are not > lending each other as freely as before. There are at least two separate issues: 1) Sub-prime loans made by banks in the US and sold to banks all over the world. 2) The Feds current "weak dollar" policy. Both have come together for some serious turmoil. > 84 dollars a barrel, how long can the World sustain > this high price ? For a long time. Oil is going to hit $100.00 before it goes down. Since oil is quoted in rapidly depreciating US dollars, the price of oil at the pump is actually going down in Canada. > A move to generate fuel from corn, rape seed oil > and the like has also pushed up commodity prices > and people will feel the pinch. Couple this with > severe variation, in climate and we have a > serious situation beginning to unravel. In Canada, there are tens of thousands of acres that are not cultivated because of low prices for grains. Higher grain prices will enrichen farmers both in the developed and developing world, IMHO. FN wrote: > What does it mean to Goans who have been *badly > hit* all these years by a dollar which has grown > from seven rupees to a dollar, to nearly > Rs 49 per dollar in three to four decades? And > I'm not referring to mineowners. FN FN, The Indian rupee fell all these years because the Indian economy was badly managed. Today the rupee is getting stronger because of some economic progress as well as because the US dollar is in a free fall. As far as the average Goan is concerned, a stronger rupee will mean: 1) that s/he will be getting less rupees for the $100 s/he receives from abroad. 2) Exporters/service providers receiving payments in US dollars will get less rupees. 3) Importers will be able to buy goods at cheaper prices. The mine owners and their category will be able to buy US assets on the cheap. Eric wrote: > An hour ago, the Canadian ducky reached parity > with it's US counterpart, after being under for > thirty one years : it was worth only 70 cents, > at one point! Eric, We too are at a loss why anyone would want the Canadian loonie. I am told that the Canadian dollar now valued at a premium because of: 1) High interest rates. 2) The price of oil going up. 3) The price of metals and gold going up. 4) The price of wheat going up. > Parliament had investigated Soros over the > Sterling debacle, five years ago, and Bush may > go further - send a detachment of his Palace Guard > north of the border : i believe the CIA is doing a > little homework on Zanzibar/Dar/Goa Voodoo. The fx market is now trading one TRILLION dollars daily. The Bank of Canada admitted that it does not have the foreign exchange reserves to defend its currency. It now uses interest rates to do so. As for the CIA, they had better be on my case. The FBI are on yours. 9/11 gave them access to tap into any Americans phone conversations and financial info, which I find interesting. Lastly, once again, thanks for yesterdays tip on Celgene. Mervyn3.0 "A man's homel
Re: [Goanet] US Dollar in trouble ?
* G * O * A * N * E * T C * L * A * S * S * I * F * I * E * D * S * GARCA BRANCA VACATION ACCOMMODATION LOUTULIM, SOUTH GOA. For R&R; modern/clean amenities; serene, healthy and wholesome location Visit http://www.garcabranca.com for details/booking/confirmation. On 21/09/2007, Jim Fernandes <[EMAIL PROTECTED]> wrote: ... > The US dollar has been maintaining a delicate balancing game. It is sitting > on a three legged chair that could loose any one of its legs at any moment, > sending it crashing down. > > The three legs are listed below This portion of the cycle has already begun and folks who used their houses as ATM's are already in a deep hole. > Arabian Leg: > > Rich Arab nations have been pegging their currencies to the US dollar for a > long time. Well, this has been slowly changing, with Kuwait de-coupling their > currency from the dollar peg just a few months ago. Now, Saudi Arabia, with > its Riyal pegged to the USD, is refusing to lower their interest rates to > fall in line with the recent 50 basis point cut in the US. Why? Because they > are having higher inflationary pressures in their own country. This is not a > good sign for the dollar, as many believe, the Saudis are most likely > planning a breakaway from the dollar peg. > Jim F. > New York. RESPONSE: I worked for Riyad Bank, in Jeddah and Riyadh from '86 until '91. I don't know how the other Gulf Arab Countries operated, but there are no interest rates applied in Saudi Arabia; the Banks don't pay any interest, on money left in accounts, consequently the banks are very rich, as they swap these free deposits into USD and make a tidy sum. The market is regulated through swaps which effectively give 'an interest yield' When I was there, this was simplified, as the Saudi Riyal was pegged at 3.65 - which gave the number of days in a year and made swaps easy to calculate...it was later devalued to 3.75. Saudi Arabia is the biggest economy in the Middle East. I cannot believe that they will break the USD link. If that happens, we can kiss the USD goodbye ! I am extremely worried by the demise of the USD, as this will impact on the whole global economy; so we should all be concerned instead of feeling elated or superior as the dollar goes down. The old adage has not gone away...the US sneezes and the rest of the World catchs a cold. If the US starts to have epileptic fits, the rest of us will start rigour mortis. -- DEV BOREM KORUM. Gabe Menezes. London, England
Re: [Goanet] US Dollar in trouble ?
* G * O * A * N * E * T C * L * A * S * S * I * F * I * E * D * S * GARCA BRANCA VACATION ACCOMMODATION LOUTULIM, SOUTH GOA. For R&R; modern/clean amenities; serene, healthy and wholesome location Visit http://www.garcabranca.com for details/booking/confirmation. On 22/09/2007, Mervyn Lobo <[EMAIL PROTECTED]> wrote: > Yes, this is bad news for US dollar holders. > Unfortunately, much more bad news is coming your way. > Those of you who converted US dollars to Rupees last > year got 40% MORE than the rate today. > > Mervyn3.0 RESPONSE: Today's USD/INR rate is 39.92; - 40% more last year would have been a rate of USD/INR 55.88...I don't think this was the case. The USD will continue to weaken to the detriment of countries like Canada. Unemployment will rise in Canada and is already biting especially in Ontario. China and Japan would be shooting themselves in the foot, if they consider divesting just 10 % of their holdings out of the USD. The 90 % that they would still hold, would go into a vortex. No easy solutions, the problem is not interest rates - it is a credit crunch issue. Banks are not lending each other as freely as before. We had a run on a big mortgage bank here last week, because of this. If this continues, then the interest rates to home owners will be forced up. No one wants to borrow from the lender of last resort i.e. the BOE and other Central Banks, as this is taken as a sign of weakness or underlying problems. So the banks would rather pay the ordinary saver more, rather than to go with bowl in hand to the open window operated by the central banks.! This pushes the rate at which they would be prepared to lend home owners...the result could very well be, a house price recession next year - have to sit on hands and wait. 84 dollars a barrel, how long can the World sustain this high price ? A move to generate fuel from corn, rape seed oil and the like has also pushed up commodity prices and people will feel the pinch. Couple this with severe variation, in climate and we have a serious situation beginning to unravel. -- DEV BOREM KORUM. Gabe Menezes. London, England
Re: [Goanet] US Dollar in trouble ?
* G * O * A * N * E * T C * L * A * S * S * I * F * I * E * D * S * GARCA BRANCA VACATION ACCOMMODATION LOUTULIM, SOUTH GOA. For R&R; modern/clean amenities; serene, healthy and wholesome location Visit http://www.garcabranca.com for details/booking/confirmation. Jim Fernandes <[EMAIL PROTECTED]> wrote: Jim, Just in case you not aware of it, Ben Bernanke had gone on record saying he would "drop money from a helicopter" to cure either inflation or dis-inflation. When I heard that "Dear Leader" had appointed him head of the Fed, I sent a letter to the White House asking them to print more money as part of economic policy. To my surprise, I got a letter of thanks from the White House. To my astonishment, they followed my suggestion! Knowing that they are now following my suggestions, I have wanted to add to my sign off, the line, "Special Advisor to the White House." The only reason I have not done so is because they are not paying me directly. Since I now know the Fed operates under the same influence as I do, I have been confidently able to make more recommendations. My latest one was for them too LOWER US interest rates. > This is bad news for Goans who have substantial > exposure to the USD. Various business news outlets > have been warning about the impending collapse of > the US dollar. Here's my summary of what is being > reported in biznews in plain English. Yes, this is bad news for US dollar holders. Unfortunately, much more bad news is coming your way. Those of you who converted US dollars to Rupees last year got 40% MORE than the rate today. In fact, had you converted US dollars to any other currency, you would have got a better deal than today. I need not mention that gold has been appreciating 15% each year against the US dollar since George came to power. > At this rate, I wouldn't be surprised if the Indian > rupee hits 35 to one USD within the next 18 to 24 > months. We could have the rupee trading at 35 to the US dollar much before that time frame if Bush and co keep on spending like drunken sailors. Mervyn3.0 Ask a question on any topic and get answers from real people. Go to Yahoo! Answers and share what you know at http://ca.answers.yahoo.com
Re: [Goanet] US Dollar in trouble ?
* G * O * A * N * E * T C * L * A * S * S * I * F * I * E * D * S * GARCA BRANCA VACATION ACCOMMODATION LOUTULIM, SOUTH GOA. For R&R; modern/clean amenities; serene, healthy and wholesome location Visit http://www.garcabranca.com for details/booking/confirmation. What does it mean to Goans who have been *badly hit* all these years by a dollar which has grown from seven rupees to a dollar, to nearly Rs 49 per dollar in three to four decades? And I'm not referring to mineowners. FN On 21/09/2007, Jim Fernandes <[EMAIL PROTECTED]> wrote: > This is bad news for Goans who have substantial exposure to the USD. Various > business news outlets have been warning about the impending collapse of the > US dollar. Here's my summary of what is being reported in biznews in plain > English. -- Frederick Noronha http://fn.goa-india.org Ph 0091-832-2409490 List of Indian e-lists http://wikiwikiweb.de/MailingListsInIndia
Re: [Goanet] US Dollar in trouble ?
* G * O * A * N * E * T C * L * A * S * S * I * F * I * E * D * S * GARCA BRANCA VACATION ACCOMMODATION LOUTULIM, SOUTH GOA. For R&R; modern/clean amenities; serene, healthy and wholesome location Visit http://www.garcabranca.com for details/booking/confirmation. Hi Jim Many thanks for an interesting analysis re the value of the dollar. I hope you, Mervyn, Gabe and others will send us more such info from time to time. Are the £ sterling and Euro the best to hold for now? Cornel Jim Fernandes <[EMAIL PROTECTED]> wrote: This is bad news for Goans who have substantial exposure to the USD. Various business news outlets have been warning about the impending collapse of the US dollar. Here's my summary of what is being reported in biznews in plain English. The US dollar has been maintaining a delicate balancing game. It is sitting on a three legged chair that could loose any one of its legs at any moment, sending it crashing down.
[Goanet] US Dollar in trouble ?
* G * O * A * N * E * T C * L * A * S * S * I * F * I * E * D * S * GARCA BRANCA VACATION ACCOMMODATION LOUTULIM, SOUTH GOA. For R&R; modern/clean amenities; serene, healthy and wholesome location Visit http://www.garcabranca.com for details/booking/confirmation. It is affected British pounds too. The exchange rate was up to Rs.87 few weeks ago then it slowly came down to around 82. Today (21/9/07 Goa banks were offering 78.80 - 79.53 per BP. A friend of mine sent 30,000 pounds (to buy property) when the rate was 82.00 The same had to change today at 79.13 (cheque purchase/instant credit). Loss of about Rs.75,000 goanet reference http://lists.goanet.org/pipermail/goanet-goanet.org/2007-September/062383.html [EMAIL PROTECTED] for Goa & NRI related info... http://in.groups.yahoo.com/group/GOAN-NRI/ For Goan Video Clips http://thisisgoa.com/ ___ Want ideas for reducing your carbon footprint? Visit Yahoo! For Good http://uk.promotions.yahoo.com/forgood/environment.html
Re: [Goanet] US Dollar in trouble ?
* G * O * A * N * E * T C * L * A * S * S * I * F * I * E * D * S * GARCA BRANCA VACATION ACCOMMODATION LOUTULIM, SOUTH GOA. For R&R; modern/clean amenities; serene, healthy and wholesome location Visit http://www.garcabranca.com for details/booking/confirmation. This is bad news for Goans who have substantial exposure to the USD. Various business news outlets have been warning about the impending collapse of the US dollar. Here's my summary of what is being reported in biznews in plain English. The US dollar has been maintaining a delicate balancing game. It is sitting on a three legged chair that could loose any one of its legs at any moment, sending it crashing down. The three legs are listed below The Chinese Leg: The US economy has been running massive deficits - meaning, they are spending more than they are collecting in taxes. The shortfall, is of course made up with borrowed funds and a substantial amount of that borrowed money, is coming from foreigners. For example, China is sitting with $1.3 trillion of American debt. If the Chinese decide to liquidate their holdings (they have been threatening to do so), it would cripple the already beleaguered dollar and send the yields on US treasury bonds through the roof. In the meantime, the 10 year bonds are tightly coupled to the long term US mortgage rates. Any Chinese action to take their money home, would mean the mortgage rates in the US would fly - this in turn, would send the already fragile housing market to its knees. As mortgage rates go up, the purchasing power of potential home buyers go down, which in turn puts downward pressure on home prices. This portion of the cycle has already begun and folks who used their houses as ATM's are already in a deep hole. The Japanese Leg: - There's something called the "Carry Trade" in Wall Street parlance, where investors borrow from sources such as Japan (because of low interest rates there) and invest it in another place such as the US, where the interest rates are higher - the difference, is the profit for the investor. Billions are borrowed in yen and invested in the US stock markets. If the yields in the US dollar denominated assets continue to fall (couple of days ago, the US Federal Reserve announced a 50 basis point cut which are expected to affect short term consumer rates), then these investors will dump their holdings in USD and take their money back to Japan (or elsewhere), thereby putting more downward pressure on the dollar. Americans love to drive their fat ass cars. While it's still cheaper to buy gasoline in the US than many other parts of the world, a $100 a barrel for crude oil would certainly trickle down to take a huge bite out of the consumer's wallet. It's already hitting consumers who are on a tight budget and oil isn't about to come down in price. I think a barrel oil at a 100 dollar mark is not too way out of line with what is about to come. This brings us to the Arabian leg. Arabian Leg: Rich Arab nations have been pegging their currencies to the US dollar for a long time. Well, this has been slowly changing, with Kuwait de-coupling their currency from the dollar peg just a few months ago. Now, Saudi Arabia, with its Riyal pegged to the USD, is refusing to lower their interest rates to fall in line with the recent 50 basis point cut in the US. Why? Because they are having higher inflationary pressures in their own country. This is not a good sign for the dollar, as many believe, the Saudis are most likely planning a breakaway from the dollar peg. Many of these gulf countries are having inflationary pressures of their own and it is expected that eventually, many of them may dump the dollar, thereby creating yet more downward pressure on the US dollar. At this rate, I wouldn't be surprised if the Indian rupee hits 35 to one USD within the next 18 to 24 months. Jim F. New York. -- Original message -- > Jim Fernandes <[EMAIL PROTECTED]> wrote: > > Is it true? > > > > I think so. > > > Jim F. From: Mervyn Lobo <[EMAIL PROTECTED]> > I don't think the US dollar is in trouble. It is in > deep trouble. Ever since the current administrations > stoped reporting how much money it prints everyday, > the US dollar has been in a free fall. > > Three years ago > ... > ... > > Middle East residents had better be paying special > attention now. Some Middle Eastern countries have > already announced that they are de-linking their > currency from the US dollar. >
Re: [Goanet] US Dollar in trouble ?
* G * O * A * N * E * T C * L * A * S * S * I * F * I * E * D * S * GARCA BRANCA VACATION ACCOMMODATION LOUTULIM, SOUTH GOA. For R&R; modern/clean amenities; serene, healthy and wholesome location Visit http://www.garcabranca.com for details/booking/confirmation. Jim Fernandes <[EMAIL PROTECTED]> wrote: > Is it true? > > I think so. Jim F. I don't think the US dollar is in trouble. It is in deep trouble. Ever since the current administrations stoped reporting how much money it prints everyday, the US dollar has been in a free fall. Three years ago I advised my US clients to buy Canadian bank stocks. Canadian bank stocks have appreciated 18% EVERY YEAR for the past twenty years. Three years ago US$10,000 purchased CAD$14,000. Today USD$10,000 is worth less than CAD$10,000. That's a 40 percent return for my clients on the currency alone. Then you add on the 18% ANNUAL appreciation of bank stocks, plus annual dividends of 4%, and you have doubled your money in three years. Middle East residents had better be paying special attention now. Some Middle Eastern countries have already announced that they are de-linking their currency from the US dollar. Mervyn3.0 PS. Yes, I do value George Bush as the "Dear Leader." Get news delivered with the All new Yahoo! Mail. Enjoy RSS feeds right on your Mail page. Start today at http://mrd.mail.yahoo.com/try_beta?.intl=ca
[Goanet] US Dollar in trouble ?
* G * O * A * N * E * T C * L * A * S * S * I * F * I * E * D * S * GARCA BRANCA VACATION ACCOMMODATION LOUTULIM, SOUTH GOA. For R&R; modern/clean amenities; serene, healthy and wholesome location Visit http://www.garcabranca.com for details/booking/confirmation. Is it true? I think so. Jim F. New York.
