EURO vs USD

[Raficoo]

wish you could be a little Optimistic about this J.Abizeid, your making feel like i'll be broke on the streets tomorrow or something

[J. Abizeid]

Originally Posted by Raficoo

wish you could be a little Optimistic about this J.Abizeid, your making feel like i'll be broke on the streets tomorrow or something

Believe me I’m not the one coming up with such bad news but you can’t ignore the writing on the wall.
The problem with the present US economy is the irresponsible Bush debt.
The whole country is in the same situation like most of its home owners. They borrowed more than the value of their home. Now they have one of two options, become homeless or kill the bank they owe their mortgage to.
I hope the US doesn’t get into another 1929 great depression because it may become very dangerous to the rest of the world like a hungry bear.
Too bad none of us can help either.
Empires come and go.

[J. Abizeid]

The dollar must collapse in order for the North American Union to bring in the "Amero".
http://www.youtube.com/watch?v=6hiPrsc9g98
http://ameroblog.blogspot.com/2008/02/what-will-amero-currency-exchange-rate.html

Other efforts are made to establish a new gold-backed currency, the Islamic Gold Dinar, to be used in international trade amongst Muslim countries
http://www.gold-eagle.com/editorials_98/taylor112598.html
http://www.financialsense.com/fsu/editorials/2004/1202.html

The euro turns out to be the leader as a model currency,

Petrodollar or Petroeuro? A new source of global conflict, by Cóilín Nunan

[Abou-Eddie]

I believe markets are driven 50pct by market forces and 50 pct by the policy of politicians, mainly the US.
1- Market forces: The US economy is in shambles, we know that for a fact. But we also know that the European economy is even worse off at this moment.
The Dollar is low, the Euro is high. Both don't deserve to be high but nobody should favor the Euro on the Dollar. Based on this, I believe market forces would push the dollar to 1.30-1.32.
2- Political impact: G.W. Bush is working on his legacy, he cannot afford to hand power to the next president with a dollar at 1.50. With all his interference, he will not be able to reach the 1.15/1.20 level. So for him, the best scenario to have an "acceptable" legacy is for the dollar to be 1.30 and to push for Mc Cain to win the elections.

Time will tell if I am right.

[J. Abizeid]

Originally Posted by Abou-Eddie

I believe markets are driven 50pct by market forces and 50 pct by the policy of politicians, mainly the US.
1- Market forces: The US economy is in shambles, we know that for a fact. But we also know that the European economy is even worse off at this moment.
The Dollar is low, the Euro is high. Both don't deserve to be high but nobody should favor the Euro on the Dollar. Based on this, I believe market forces would push the dollar to 1.30-1.32.
2- Political impact: G.W. Bush is working on his legacy, he cannot afford to hand power to the next president with a dollar at 1.50. With all his interference, he will not be able to reach the 1.15/1.20 level. So for him, the best scenario to have an "acceptable" legacy is for the dollar to be 1.30 and to push for Mc Cain to win the elections.

Time will tell if I am right.

Indeed,
The American people don’t track the euro, not even their own currency,
All they care about is the gas prices at the pump and the interest rate that qualifies them to buy a home or a car they can’t afford.
Since the republicans are in control, we won’t see an increase in interest rate regardless of inflation.
As far as gas at the pump, they want to make sure it goes down below $2.99 a gallon meaning less than $100 a barrel, meaning relatively stronger dollar/ weaker euro.
Next week’s OPEC meeting will most likely prove the republicans still have friends among the Muslims and Arabs. I doubt Iran will be able force an oil cut.
But all bets are of after the elections and I wouldn’t be surprised if McCain wins.
If he does, I don’t see any reason to stop oil from going back to $147 and above and the euro beating its own record.
Come think of it, if you invest your money properly, you start liking those guys.
As you said, time will tell.
I think we’ll have a December to Remember this year,

[Raficoo]

Update: Euro is now 1.43391$

it seems to be getting lower and lower..in a slow pace...

and as for the Oil Price Dropping, i heard from many Stations that it's because Hurricane Gustuv did little Damage to the Oil Plants on the Gulf..never heard it because of the elections lol.. i never did trust bad pessimistic News

[dodzi]

Originally Posted by Raficoo

Update: Euro is now 1.43391$

it seems to be getting lower and lower..in a slow pace...

and as for the Oil Price Dropping, i heard from many Stations that it's because Hurricane Gustuv did little Damage to the Oil Plants on the Gulf..never heard it because of the elections lol.. i never did trust bad pessimistic News

lol how is that a low pace? It was 1.53 3 weeks ago! In fact, it is going down so fast you made a face!

[J. Abizeid]

What’s wrong with this picture?
http://biz.yahoo.com/ap/080904/oil_prices.html
Oil prices down near $107 a barrel after US gas supplies fall less than expected last week
What happened to supply and demand? Since when prices go down when supply goes down.
The bottom line is oil prices are set and controlled. Their attitude is: This is the price, take it or leave it.

If they want more of your money, you have no choice but to give them what they want.
For the next two months, they want the American people happy so they are giving them the gift of low gas prices and telling them only the republicans can do it which is true only if they want to.
Oil is a great tool to manipulate voters.
They want McCain.
Once the election game is over, oil goes back up especially if McCain wins because Just like Bush, he will let them get away with murder.
Don’t expect Obama will fight those big corporations either. Al Gore lost because of that.


So, based on that, the euro will stay down with the oil down till after the elections.

http://biz.yahoo.com/ap/080904/wall_street.html
Isn’t amazing with all the bad unemployment news that caused the stock market to plunge 250 points today, the dollar still went up. Remember, the reason they gave in august for the euro going down was because a minor slow down in the European economic indexes.

The euro value is mostly a function of oil prices. Expect it to go up again a lot faster if McCain wins.

[J. Abizeid]

Originally Posted by J. Abizeid

Next week’s OPEC meeting will most likely prove the republicans still have friends among the Muslims and Arabs. I doubt Iran will be able force an oil cut.
But all bets are of after the elections and I wouldn’t be surprised if McCain wins.
If he does, I don’t see any reason to stop oil from going back to $147 and above and the euro beating its own record.
Come think of it, if you invest your money properly, you start liking those guys.
As you said, time will tell.
I think we’ll have a December to Remember this year,

Bloomberg.com: Worldwide
The 13-nation Organization of Petroleum Exporting Countries will reject calls from Venezuela and Iran to trim supplies at its Sept. 9 meeting in Vienna, according to 29 of the 32 energy analysts surveyed by Bloomberg.

[Chief]

Economic slowdown has hit europe since the moment euro gained a large margin over the US$

I guess the drop of the euro is only natural, related directly to to this slowdown.