Gee that's funny, you talk about how the dollar went to shit when the euro was introduced, and then you post the dollars value versus pounds and canadian dollars to prove your point :1orglaugh :1orglaugh

I never implied that the dollar is stronger today than it was in 2001, I simply pointed out that the dollar's value has nothing to do with the introduction of the euro numbnuts.



Yeah as long as oil is only sold in dollars it's not a problem. And as long as my grandmother doesn't grow nuts she won't be my grandfather.
The odds of either thing happening are about the same.

Why on earth would the oil producers of the world intentionally try to fuck up the economy of their biggest customer? That would be like the Chinese government nuking Wal-Mart headquarters.
It's not gonna happen.

I went up, way up in Mexico. It was at about 10.50 a month or so ago, and it went up to about 11.50 pretty fast. Now, it started dwindling again :(
It's at about 11.30 or so (I think, haven't checked this weekend).

Yeah you're right about that. It's so bad that they changed the reporting rules and they won't tell us how much currency is in circulation anymore.

However, for decades the U.S. has been the world's biggest customer, buying up everyone else's exports while other countries barely bought any of ours.

Now with the dollar weakening that's changing, and it's more expensive for the U.S. consumer to buy imports and it's cheaper for foreigners to buy U.S. products.
What I find hilarious is all of the foreigners who somehow think this means there's something wrong with OUR economy, when they're the ones getting the shaft on the deal.

A strong dollar is good for some things, but a weak dollar means our exports will rise and our national debt will be cheaper relatively speaking.
It won't hurt the U.S. consumer unless there's high inflation at home, which isn't happening right now.
So :321GFY to all the people who don't like it.

I guess we'll have to see how this situation with Iran plays out, I fail to see how America can prevent Iran from creating their iranian oil bourse trading oil in euros though.

Whos gonna back America on that one apart from Britain

Btw I think your attitude stinks, no need to be such an asshole.

All i was ever trying to do in this thread was explain why the dollar started to be worth less money to us non americans and you start giving me shit.

I guess like most Americans you took what I was saying as American bashing

This wasn't the case

Iran only controls about 2% of the world's oil supply, so any impact from them switching to euros would be negligible.

As for your other remarks, you were trying to say that the reason the dollar has been falling is because of the introduction of the euro, which is a preposterous statement. I just called you on your idiocy.

The fall of the dollar has nothing to do with the euro, it has to do with our trade imbalance and our budget deficit. Neither of those things has anything to do with the euro or your delusions about oil being traded for in another currency.

I'm pretty sure its much much higher than that

http://www.mapsofworld.com/world-top...tries-map.html

Its at the very least in the top 10 according to quite a few sources I've looked at

Would you mind explaining this a little more ? Give me a better understanding by educating me instead of calling me an idiot, even a link

Iran exports a little over 2 million barrels a day, which is about 2% of worldwide consumption.

It does suck pretty bad...

100 euros equals around 126 usd

I've stopped counting the money I loose everytime I get USD and trading for euros...

Cincuenta!..........

Every source I look at has Iran as the 4th largest exporter, whats your source ?

Dount there is much disagreement on Iran being 4th Coatsy - despite minor ripples in the supply chain..

http://www.eia.doe.gov/emeu/cabs/topworldtables1_2.html

There have been verbals over OPEC valuing oil in currencies other than the US$ - for obvious reasons. Last I looked Iran was still a member of OPEC.

The projected effects of OPEC changing currencies is kinda severe for certain nations and would cause considerable economic upheaval and prob a decision not to be taken lightly. The effect on places like the US would be catastrophic.

Thats a nice source :) So my point stands and is valid. If Iran does start trading their oil in euros and considering they have what ? 20% of the worlds oil then that would make the euros value increase and potentially could start a domino effect with at least 1 or 2 other OPEC members.

I think Iran realize that the damage they could inflict on America by changing to euros would be a lot greater than the damage that a nuclear bomb could do

:( :( :( :( :( :( :(

This thread... needs help.

4th largest so what?
Go to your sources (you apparently have several of them) find out how many barrels a day they export. Then compare that to how many barrels are consumed worldwide per day.

Also, what Webby said is true as well. Iran would have to get all of OPEC to go along with them in order for oil to trade in euros (about as likely as my grandmother growing nuts and becoming my grandfather)

Of course they could leave OPEC and do whatever they want, but the effect would still be negligible.

http://www.washingtoninstitute.org/t...5.php?CID=2477

Khamenei did not specify how Iran would endanger hahaha8220;the shipment of energy.hahaha8221; Some commentators and politicians in the West speculate that Iran would merely stop its own oil exports in the hope that energy demand and supply are so finely balanced that this would tip the world economy into crisis. This would be risky for Iran. Despite an OPEC production quota of 4.11 million barrels per day, Iran exports only around 2.6 million barrels per day. Even this might be an overstatement. The Wall Street Journal reported on June 5 that for the last six weeks Iran has been storing on tankers the equivalent of 475,000 barrels per day, suggesting that Iran can threaten only about 2.1 million barrels per day in supply to world markets. This is a figure almost bridgeable by Saudi Arabiahahaha8217;s existing spare capacity, especially in light of a Journal report that Saudi production is currently down by 400,000 barrels per day.

Lutz hahahahahahahahaha is about right :1orglaugh

And in case the real Lutzie comes back again....

What you actually are is an ex-bank thief. A guy who worked behind the counter of a bank for a few months till they caught you helping yourself to the cash.

The most you know about is scamming a few wealthy ladies out of money - and raping a few more. Not to forget all your other offenses where you spent time in jail.

You have nada income in Euros either - another lie form a career con man.

That invitation to free hospitality at Miami is still open - all ya got to do Lutzie is get sober and on that flight. There will be a crew waiting and a nice lady ready to listen to your excuses as to why you defrauded people.

PS After that... she may even pass you over to other jurisdictions where you are wanted.

Wow, I never expected such a thoughtful discussion when I started this thread. Never underestimate the power of bitching.

These two graphs tell the story. If this were a company's financial report, would you buy stock in it? Of course not. So why is it any different when its the government?

National Debt

http://www.libertydollar.org/graphic...tionaldebt.jpg

The national debt has climbed to alarming levels since the Federal Reserve was created in 1913.

Source: U.S. Treasury, Bureau of the Public Debt

Purchasing Power

http://www.libertydollar.org/graphic...chasepower.jpg

As a result, the Federal Reserve Note (US dollar) has lost 96% of its purchasing power since 1913.

Source: U.S. Dept, of Labor, Bureau of Labor Statistics, CPI

The dollar is worthless, buy gold and protect yourself from the devaluing of the dollar.

my appartment is getting more expensive as real estate and i can't get the money from that because it is payed it dollars.

I didn't realize the world wide oil consumption was such a large figure, I've learnt quite a bit from this thread. Clearly you are right and I was wrong but at least now I'm better informed on the matter, so thanks for that.

Do you run paysites ? If so you should consider charging at least your european surfers in euros, also try looking for more sources of traffic with a higher amount of european surfers

It really does suck.. I still say though even for what the dollar is worth now I couldn't get the same amount for that money (same standard of living) in the US as I do here in Canada. I miss the days of 1.69 like anyone else does, but all in all not doing too bad anyways.

And the Canadian dollar being linked with oil is not helping matters..although the recent large dip again due to interest rates was some welcome relief.

fuckkkk!!

and avs was in high gear

Well there are several reasons why it's different when it's the government.

First and most obviously the government owns the printing press whereas a corporation does not.
Secondly the power to levy taxes on the largest economy in the world means that the ability to repay the debt will always be there.

I'm not happy about the deficit or the national debt, however as a percentage of our economy our debt was higher at the end of world war II than it is now, and coincidentally the end of world war II was also the beginning of the largest ever peacetime economic expansion in history.
The amount of money we owed at the end of the war was over 125% of our GDP.
That same $$ amount now is the equivalent of a rounding error in the federal budget.

While I agree that U.S. fiscal policy needs to change, buying U.S. government debt is the safest investment in the world.

I don't agree that Americans generally won't pay euros. We get really good ratios for us traffic and bill in euros. We have noticed a significant increase in non US traffic signups though, so its all good. Just don't try to charge 30Eur ... instead charge something like 27Eur which looks like a small discount, but still comes out well above $30US.

Anyhow more and more people are billing in euros because come payday you are simply getting more $, and the ratios (well as far as we can see) are just as good if not marginally better.

It may be safe to a degree, but there sure are both more profitable and safer bets than buying into the debts of a country.

What happened to Argentina? They followed the guidelines/recommendations of bankers and the IMF and got well screwed. What happens if OPEC does decide to trade oil, even partially, in other currencies? (Tho that would have a ripple effect around the world - not just in one country).

:thumbsup

No it's not safe to a degree, it's the absolute safest investment in the world period.
The U.S. Treasury's credit rating is the highest in the world. There is virtually zero credit risk for a U.S. government security.
That's why uncle sam can pay a lower interest rate than any other investment on the planet and still get all the money he needs.

Whatever you are smoking, pass it around because that must be some gooooood shit.

Why is a country which is deep in debt and continues to accquire $10 Bill of debts daily, is unable to produce any trade surplus since the 60's, and currently with a sinking currency value, - the "absolute safest investment in the world"?

This optimism is sure not shared by those in the US treasury or the rest of the world. There was a US treasury report released.. think spring of 2003. It was the most extensive report ever undertaken. The stats in that report were a horror story and, simplified, illustrated that 94% of all homes and the contents in them were the level of the national debt. Their "solution" was an immediate tax increase to 60% "for the forseeable future". Several years of uncontrolled monetary policy since that time has clearly made that situation worse.

It is unsustainable to continue borrowing and not paying for product purchased and, at the same time have little to offer in exports other than the only two remaining trade surpluses - wheat and arms.

There are plenty far more secure nations who are earning profits and do produce a balanced monetory policy than throw investment funds into the US.

That aside, there is no way on earth I'd be dumping money to waste in poor returns with any government.

The TD bank of Canada said earlier this week that they expect a good decrease in Canadian business for year 2007.

Let's cross finger and hope they are right and that America will put a human for president.