those who bought insurance policies or unit trusts in US dollars years back are now sitting on losses... years back i decided to realise my policy at $1.64, bought when it was $1.67... now i know how lucky i am.
this is a good chance to load up all the USD you can get! cos that's what everyone else will be doing and suddenly like a flick of a swtich the USD will sky rocket back to 1.6
“How fortunate for leaders that men do not think.” - Adolf Hitler
Well, this week, due to the Bear Sterns problem, it closed out below the 1.38. Man, I underestimated the fall.
In fact, it closed at 1.3790 according to Yahoo Financials. It has never been this low before, and there is no end to the drop in sight. Hmmm 1.30 by end June? Who knows? That level isn't too far away. Straits Times was say that it was 1.51 about 6 months ago. What is possible in the next 3.5 months?
Come, let's all put in our guesses
Wonder what would happen if even more of international trade shifted to Euros ?
In many ways, the US has been able to manipulate the entire world economy by having it's currency used as the defacto world currency - particularly the currency used in the trading of resources.
Euros are coming up from behind - it's not controlled by any one country, and the EuroZone is expanding, all those trading nations that the US has managed to tick off, are potential Euro users. A currency who's central bank has to deal with multiple national governments already.
If the EuroZone manages to get a few big oil producers to trade in Euros instead of USD, it's game over.... Iran keeps threatening to do this - although probably just to annoy the US more than anything else.
what will worsen the whole crisis is the slowing economy... all u need is one junk economic report to trigger another meltdown.
After the MAS move today, 1 USD = 1.3567 SGD - all time high.
Pictures always should have a special story behind it or a special meaning to the photographer.
It was reported the sub prime loss was as high as $180bn. Thats very well could be the economy of a few small countries many times over :P
The impact has been felt globally. The people in the US are the ones suffering. The US is not self sufficient. That explains their deficit in their Trade Balance.
It is reported that the US is already in recession. I forsee a weak trend continuing till the election. Its well known that America is looking for a change.
I think the financial markets will show that historically the dollar picks up on optimism of the elections and new policy. Load up on your usd and
wait for election
Or buy cameras from me cause we get our stock in USD
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1 USD is SGD$1.3561 today!! It's time to BBB online.
Last edited by bovine; 24th April 2008 at 05:11 PM.