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Old 07-29-2008, 04:04 PM
 
Location: So. of Rosarito, Baja, Mexico
6,728 posts, read 19,217,158 times
Reputation: 6234

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I am retired in Baja Mexico. Last week the MX peso was 10.0 to $1.00 (even exchange) Today I went to pay my phone bill (they except dlls). The exchange rate was MX 9.90 to $1.00. My dollar is worth LESS!!!!!! What in the world is going on in Washington????? Steve
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Old 07-29-2008, 04:16 PM
 
Location: rain city
2,958 posts, read 11,567,549 times
Reputation: 4916
Hahahaha....tell me about it. We just moved back to the states from overseas. If I have to get paid in dollars, I'm going to spend them in America. We were under an employment contract, getting paid in $USD direct deposit and spending foreign currency in a foreign economy. At least a 35% loss in value over 5 years.

The Brits I knew though, working for British companies and being paid in British pounds, were making an absolute killing overseas. Their pound has been going up up up against every foreign currency. They were doing extremely well.

Sorry Steve, but I think your dollar will continue to go nowhere but down. Maybe you should come home for a while and spend your retirement dollars in America where they aren't quite as devalued.
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Old 07-29-2008, 04:30 PM
 
19,094 posts, read 20,666,010 times
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Financials took a big hit today even though the DOW went up....its going to keep dropping in value until America gets a hold of government spending...
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Old 07-29-2008, 05:00 PM
 
Location: Ohio
21,296 posts, read 15,086,092 times
Reputation: 17715
Quote:
Originally Posted by evilnewbie View Post
Financials took a big hit today even though the DOW went up....its going to keep dropping in value until America gets a hold of government spending...
Government spending has nothing to do with it. Countries were abandoning the US$ under the Clinton Administration, which had a budget surplus, a higher interest rate and and lower national debt.

If the US does a complete about face on it foreign and trade policies, and maintains that posture for 30 or 40 years, perhaps 50 years from now countries will view the US as benevolent and starting using US$ again.

In the mean time, everyone should go long on the Euro.
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Old 07-29-2008, 05:14 PM
 
19,094 posts, read 20,666,010 times
Reputation: 8371
Quote:
Originally Posted by Mircea View Post
Government spending has nothing to do with it. Countries were abandoning the US$ under the Clinton Administration, which had a budget surplus, a higher interest rate and and lower national debt.

If the US does a complete about face on it foreign and trade policies, and maintains that posture for 30 or 40 years, perhaps 50 years from now countries will view the US as benevolent and starting using US$ again.

In the mean time, everyone should go long on the Euro.
So you are saying that a government deficit of 480 Billion this year has no effect on the dollar?
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Old 07-29-2008, 05:15 PM
 
16,092 posts, read 37,249,913 times
Reputation: 6280
Hmmm some places around here already accept pesos, maybe they will stop taking dollars.
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Old 07-29-2008, 07:12 PM
 
Location: Texas
4,933 posts, read 6,974,503 times
Reputation: 5506
Quote:
Originally Posted by Lakewooder View Post
Hmmm some places around here already accept pesos, maybe they will stop taking dollars.
Uncle Sam would put an end to that quickly. The FBI is pretty much a tool of the illuminati used to stifle dissent.
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Old 07-29-2008, 07:37 PM
 
1,218 posts, read 3,714,752 times
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It's all cyclical. The dollar will come around.
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Old 07-29-2008, 09:22 PM
 
Location: Heartland Florida
9,324 posts, read 24,265,728 times
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I think the dollar is on a downhill trend, and the money masters just cannot stop printing more of them.
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Old 07-29-2008, 10:08 PM
 
Location: Charleston, SC
5,615 posts, read 13,152,393 times
Reputation: 2539
Quote:
Originally Posted by Steve Bagu View Post
I am retired in Baja Mexico. Last week the MX peso was 10.0 to $1.00 (even exchange) Today I went to pay my phone bill (they except dlls). The exchange rate was MX 9.90 to $1.00. My dollar is worth LESS!!!!!! What in the world is going on in Washington????? Steve
It's not worth more. At a 9.90 Peso -> 1 Dollar exchange rate a Dollar is still worth nearly 10x a Peso.
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