[culicomorpha]

I see you're a Mad Oracle now golem... Nice.

Is it just me, or does it seems like there is really no historical precedent for the dollar situation, given all the other pressing problems that are poised to collapse the entire system? I mean, how many retirees watching the value of the dollar plummet are seriously wondering how they are going to pay the oil, gas, or electric bill to heat their house. There are sooooooo many people in this country just scraping by to survive.

This is going to get bad. Soon.

[gnm]

Well it will trash your relative income and purchasing power for sure...

But hey look at the bright side it will trash your debt as well!

Crazy drop to be sure.

-G Ok I'll go back to being alarmed...

[highlander]

Saw that Cramer fella on NBC tonight. He was calling for more FED intervention. Says we haven't hit bottom yet. He sure is no friend of the US dollar. Anything to bolster Wall Street. With the media playing the FED mantra, our dollar will continue to plummet. It's lost 20% in two years. Probably lose another 20 in the next few months. Nothing to back up my statement, just a gut feeling.

[drgoodword]

$this->bbcode_second_pass_quote('gnm', 'W')ell it will trash your relative income and purchasing power for sure...

[mattduke]

[video width=400 height=350]http://www.youtube.com/v/V85V5aDEeSk[/video]

"Dollar got the blues"

[Denny]

A timely song, though written a couple of years back:

Steve Dore: "Headed for Disaster"

[roccman]

Rut roh scooby...the yen is on the move...

[Bas]

I didn't know they traded currency on Sundays? The markets are still closed.

Anyway, if it falls below 110, I think we might experience some turbulance in all markets as I suspect that quite a lot of the carry trade will unwind at that level.

[roccman]

$this->bbcode_second_pass_quote('Bas', 'I') didn't know they traded currency on Sundays? The markets are still closed.

[Bas]

$this->bbcode_second_pass_quote('roccman', '')$this->bbcode_second_pass_quote('Bas', 'I') didn't know they traded currency on Sundays? The markets are still closed.

[roccman]

$this->bbcode_second_pass_quote('Bas', '')$this->bbcode_second_pass_quote('roccman', '')$this->bbcode_second_pass_quote('Bas', 'I') didn't know they traded currency on Sundays? The markets are still closed.

[Bas]

$this->bbcode_second_pass_quote('roccman', '
')
Ok I think we are talking about two differnt things...

The Asian Markets open in a couple hours.

Currency markets are trading now...

[roccman]

$this->bbcode_second_pass_quote('Bas', '')$this->bbcode_second_pass_quote('roccman', '
')
Ok I think we are talking about two differnt things...

The Asian Markets open in a couple hours.

Currency markets are trading now...

[Bas]

Well thanks for linking to that site, it seems they started trading on south sea Island at 8 in the morning in the GMT+12 zone. And yeah, it seems like the the markets are about to get smacked down like they were in August, going on the sudden rise of Yen.

[roccman]

$this->bbcode_second_pass_quote('Bas', 'W')ell thanks for linking to that site, it seems they started trading on south sea Island at 8 in the morning in the GMT+12 zone. And yeah, it seems like the the markets are about to get smacked down like they were in August, going on the sudden rise of Yen.

[threadbear]

Mike Whitney--Countepunch:

Structured finance has been an unmitigated disaster. It needs to be scrapped. We need a new financial system for a new epoch; a system that is heavily regulated and supervised to discourage the crooks and con-artists; a system that it maintains its essential link to the real, productive underlying economy and avoids the galaxy of complex derivatives, "securitized" liabilities, and opaque debt-instruments that have brought on the present crisis; a system that responds to the needs of working people and takes into consideration the looming problems of environmental degradation, resource scarcity, and climate change; a system that reinvests in communities, education and health-care rather than fattening the bottom-line of corporate racketeers and brandy-drooling elites. It's time to remove the rotten scaffolding and rebuild the whole contraption brick by brick.

The system is broken. Maybe Greenspan did us all a favor by blowing it up with his "low interest" dynamite. Good riddance.

http://www.counterpunch.org/whitney11102007.html

[mattduke]

"Central banks from Bogota to Mumbai are imposing foreign-exchange curbs to take control of their soaring currencies from traders dumping the dollar."

Bloomberg

[Bas]

$this->bbcode_second_pass_quote('mattduke', '"')Central banks from Bogota to Mumbai are imposing foreign-exchange curbs to take control of their soaring currencies from traders dumping the dollar."

Bloomberg

[mattduke]

$this->bbcode_second_pass_quote('Denny', 'A') timely song, though written a couple of years back:

Steve Dore: "Headed for Disaster"

[Bas]

Well, the dollar dropped through the 110 yen bottom Today and looking at the commodity markets, quite a lot of the carry trade seems to be unwinding because of it.

(funnily enough the dollar is up a bit against the Euro today)