Random Topic of the Day: The Decline of the USD

Question

Ouch! Time to buy gold?

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kryzak · Answer

ouch is correct! Oil hits $100 USD today... that's like, 10 Euros?

3underscore · Answer

Gold won't work as an inflation hedge this time, and you can really find safe homes just using currencies. The dollar will bounce back somewhat - it is almost as though it is too late to do anything if you were concerned about it.

Defensive stocks for the forthcoming year, or go seriously long commodities.

Defensive stocks for the forthcoming year, or go seriously long commodities.

gmatclb · Answer

Wrong year to travel around the world for us Americans.

burger2001 · Answer

Yep, and I'm the best man in a wedding in London of all places this summer. That's gonna hurt.

TimeSquareDesi · Answer

l0l. my father says that in a few years time, we'll be paying $10 for a cup of coffee. and we think starbux is expensive now... :roll:

kryzak · Answer

well, South America is still cheap, since their currency is somewhat pegged to the dollar. Asia is ok, depending on the country. China is semi-pegged, Japan and Taiwan's currency are still relatively the same against the USD. Thai baht got stronger, but it's still dirt cheap there.

Praetorian · Answer

When Warren Buffet decides to bet big on an 'unknown' currency, you know that's trouble.

Add Peter Schiff and Jim Rogers to the list of the guys who are winning big betting against the USD.

Money quotes

" Its not how many dollars you have invested, its what those dollars are worth" - Peter Schiff

"US is already in a recession." - Peter Schiff.

"We're mortgaging the farm... to enjoy current consumption." - Peter Schiff.

Rubashov1 · Answer

Good thing I don't drink coffee.

Irishfan · Answer

Well, I experienced one of the few (very small) upsides to the decline a few weeks ago. When I was in Toronto for business, I did what every Canadian has been doing to us for ages, and paid a Canadian vending machine in USD change.

So, I ended up making money on the transaction after years upon years of getting Canadian change from vending machines, tollbooths, etc. NOW who's the sucker?

tsaditya · Answer

Well whatever little savings I have in Singapore Dollars will be worth more if i get into a US school. The other plus point is interest rates will also come down which is a great thing for those of us who will be taking loans.

Praetorian · Answer

good recommendation 3underscore. Gold mining is suddenly hot too. who knew! From AP - https://ap.google.com/article/ALeqM5jND4 ... gD8TULF100 https://www.bloomberg.com/apps/news?pid= ... fer=canada Look at this bad boy - price of gold just this decade.

3underscore · Answer

I have a book my boss bought me about five or six years ago to use to research an article for him. It is called "the dollar crisis". I think I ought to revisit it to see where he thought the slide may end. The bits I recall are remarkably prescient, though I fear that may be in part the wonderful way the human mind recalls things (without wanting to get anywhere near being all Taleb)

Random Topic of the Day: The Decline of the USD

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