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Thread: Dollar loses reserve status to yen & euro

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    Re: Dollar loses reserve status to yen & euro

    I wasn't worried about your spelling.
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    Re: Dollar loses reserve status to yen & euro

    Then what were you worried about?

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    Re: Dollar loses reserve status to yen & euro

    I reject the idea that it's inevitable. I'm pretty sure the concession that it is can't be fairly read into chevydriver's post, either.
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    Re: Dollar loses reserve status to yen & euro

    Quote Originally Posted by Orius View Post
    The dollar was already caving when Obama took office.

    And it's nice to see that the central banks around the world aren't learning the consequences of what it means to have one reserve currency.

    The U.S. dollar gained popularity because of Cold War politics. It has never been the strongest currency.
    Look at the chart below.... it was on the rebound when Obama came to office, it started to tank the week of 12-12-2008, came back 2 weeks later, stayed good untill 3-6-2009 and has been tanking since.

    Where do you get your info?


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    Re: Dollar loses reserve status to yen & euro

    Quote Originally Posted by obvious Child View Post
    And if you actually cared about what you pretend to, you would have criticized Bush when the dollar had the largest drop in value in 2006. I see you have utterly failed to provide evidence of such criticism. Have you even ever criticized the reckless fiscally liberal Bush spending?

    Oh I forgot.

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    Re: Dollar loses reserve status to yen & euro

    Quote Originally Posted by Crunch View Post
    Look at the chart below.... it was on the rebound when Obama came to office, it started to tank the week of 12-12-2008, came back 2 weeks later, stayed good untill 3-6-2009 and has been tanking since.

    Where do you get your info?
    Where did you get your education?

    The dollar was rising due to massive internal domestic demand for T-bills as people were exceptionally afraid. Now that people are diversifying their portfolios and getting rid of T-bills/reducing demand for new ones, it's expected that holding all other factors constant that the dollar will decline. The big spike in your graph is purely artificial as it was driven by fear. Now, if you were honest, you would have discussed the sizable portion of the graph on the left which shows a clear decline under Bush.
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    Re: Dollar loses reserve status to yen & euro

    Sounds as if someone has lost their yen for the dollor !!
    “I do not recall the Viet Cong asking me if I was a natural born or Naturalized American before they shot at me, they just shot at all of us “ f107HyperSabr

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    Re: Dollar loses reserve status to yen & euro

    Short-term and long-term factors are weighing on the dollar. Some factors include:

    1. Deterioration of the U.S. fiscal position. The progress made during the 1990s was wiped out in the 2000s and, in terms of structural deficits, things have worsened more quickly during the Great Recession. The lack of meaningful efforts to address the nation's long-term fiscal imbalances from its mandatory spending programs has continued. Not since the 1981 Greenspan Commission undertaken by President Reagan has there been any meaningful attempt to address some of those imbalances.

    2. Absence of meaningful regulatory reform. Already, the World Economic Forum ranks the U.S. financial system very poorly when it comes banking system stability (53rd). More than a year after the financial crisis, the deeply flawed VAR (value-at-risk) model that provided little meaningful value in terms of financial risk has not been eliminated from satisfying SEC requirements, scalable capital standards to address the "too big to fail" issue have not been implemented, capital standards have not been tied to written derivatives positions, and accounting transparency that eliminates maintaining risk off the balance sheet has not been put in place.

    3. There is some possibility that the enormous monetary liquidity in the system has, rather than significantly stimulating the macroeconomy, pushed equities prices toward levels not justified by the overall macroeconomic outlook. At this time, I don't take that position, but a year from now, the picture should be clearer.

    4. Overall, the U.S. is continuing to rapidly grow its debt. While households have somewhat trimmed their excessive debt, nonfinancial corporate and, especially federal government, debt have risen markedly. The overreliance on leverage helped precipitate the recent financial crisis. The debt shift that is underway could increase prospects for a currency crisis.

    5. Structural flaws in the U.S. economy e.g., lack of competitiveness in some manufacturing sectors, the need for a further unwinding of the nation's trade deficit, etc.

    6. Long-term factors: A growing educational attainment gap with key overseas competitors and what amounts to a slowly rising health care expenditures bubble on account of continuing growth in such expenditures well in excess of nominal growth. Ultimately, foreigners will not subsidize U.S. health purchases by lending the U.S. funds to meet its health care needs, so the health expenditures relative to the economy will eventually reach a critical point. The Baucus Bill, even as it is forecast by the CBO to meaningfully reduce the incidence of uninsured persons and will be budget neutral (namely due to its tax provisions), does not address the issue of excessive growth in national health expenditures. Indeed, as a proxy, the CBO forecasts that the program's expenditures will be rising 8% per year within 10 years. All said, the two long-term factors argue for a productivity deficit to develop in the U.S. relative to key economic competitors and the failure to address excess growth in health expenditures hints at a debt crisis. By the time that potential bubble bursts, U.S. public debt will likely be markedly higher than it is today. As a result, the kind of extraordinary fiscal stimulus and financial rescue plans undertaken during the financial crisis and recession will not be available. Monetary stimulus would be highly inflationary in such an environment.

    7. Realignments in the global economy e.g., China's playing a larger role in the future. Global economic and geopolitical shifts will have an impact.

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    Re: Dollar loses reserve status to yen & euro

    So what are you saying Don?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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    Re: Dollar loses reserve status to yen & euro

    Quote Originally Posted by F107HyperSabr View Post
    Sounds as if someone has found their yen for the dollor !!
    Fixed it for you.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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