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I have a stressful question for all of you USA Expatriots living in places like Thailand/south east asia, India, Africa or where ever.
Many of you who are older and retired are living on your pensions or social security and others who survive on american business they have in the states/investments or whatever saving you have depend on the USA economy in most cases.
as we all know the USA is falling apart and the US dollar is dropping in value and hyper inflation looks like it is going to hit soon.
I heard that many money changers in China are not interested in American money any more and many countries are ready to phase out american money.
What does the future hold for expats who depend on american money to get by or to at least supplement their overseas income?
what are your plans? what will you do? how will you survive? what is the back up plan?
this is an important question and i hope there is light at the end of the tunnel but i fear there is a dark tunnel ahead that is very long.
The US dollar will continue to be a convertible dollar, exchangeable at an undiscounted rate, even if it no longer the "preferred" currency. In any Forex office in the world, you can exchange about a dozen world currencies, no problem, and the USD will always be one of them.
Against the Euro, the USD is now right where it was in December of '04, '06, '08 and '10. The overall trend is the USD slightly rising against the Euro since Summer '08.
You may forecast whatever you like, but on the ground, the US dollar is still as strong as it ever was, and if currency traders thought there was a forthcoming dip in the dollar, that would be reflected in the rates..
I just want to correct a word which I spelled wrong frequently and misleads people:
expatriot - To send into exile.
expatriate - is a person temporarily or permanently residing in a country and culture other than that of the person's upbringing.
I'm an expat but our main pension is in GB pounds. The pensions I receive from the US are not necessary for our normal living expenses, they are for travel. But I still hope the value doesn't dip!
I just want to correct a word which I spelled wrong frequently and misleads people:
expatriot - To send into exile.
expatriate - is a person temporarily or permanently residing in a country and culture other than that of the person's upbringing.
I can't find 'expatriot' in any dictionary, but one can coin the term 'ex-patriot' to mean a person who is no longer a patriot, like 'ex-wife'.
'Expatriate' is spelled the same, for both the uses you described above -- it can be a verb or a noun, and can be either voluntary or involuntary removal from the homeland. Spelled the same, but prnounced differently.
I can't find 'expatriot' in any dictionary, but one can coin the term 'ex-patriot' to mean a person who is no longer a patriot, like 'ex-wife'.
'Expatriate' is spelled the same, for both the uses you described above -- it can be a verb or a noun, and can be either voluntary or involuntary removal from the homeland.
I found expatriot in an online dictionary. Using this word to describe people such as me is misleading and sounds like one who is no longer patriotic. In fact, most people seem to think that's what expat means.
I have a stressful question for all of you USA Expatriots living in places like Thailand/south east asia, India, Africa or where ever.
Many of you who are older and retired are living on your pensions or social security and others who survive on american business they have in the states/investments or whatever saving you have depend on the USA economy in most cases.
as we all know the USA is falling apart and the US dollar is dropping in value and hyper inflation looks like it is going to hit soon.
I heard that many money changers in China are not interested in American money any more and many countries are ready to phase out american money.
What does the future hold for expats who depend on american money to get by or to at least supplement their overseas income?
what are your plans? what will you do? how will you survive? what is the back up plan?
this is an important question and i hope there is light at the end of the tunnel but i fear there is a dark tunnel ahead that is very long.
If the US dollar declines in relative value, it'll simply be exchanged for less of the local money, but it will still be exchangeable. You can exchange just about any currency in the world, and the US is a big country full of natural resources, skilled labourers, and infrastructure. The US dollar will always be worth something, and to be perfectly honest if the worst came to pass and the world dumped its currency reserves and stopped trading oil in US dollars AND QE continued, you'd still just be looking at 30 - 40% drop in value. People would be hurting, but they'd still be able to downsize their lifestyles and get by.
The US dollar will continue to be a convertible dollar, exchangeable at an undiscounted rate, even if it no longer the "preferred" currency. In any Forex office in the world, you can exchange about a dozen world currencies, no problem, and the USD will always be one of them.
Against the Euro, the USD is now right where it was in December of '04, '06, '08 and '10. The overall trend is the USD slightly rising against the Euro since Summer '08.
You may forecast whatever you like, but on the ground, the US dollar is still as strong as it ever was, and if currency traders thought there was a forthcoming dip in the dollar, that would be reflected in the rates..
This is false in the case of Jamaica because the US dollar has become more weak. there was a time when 1 us dollar was worth 100 Jamaican now it is 90. i know Canadians who have retired in Jamaica who are struggling living on their pensions but 5-10 years ago those same pensions provided good middle class lifestyles now it becomes a struggle to get by on 1100-1500 and from what i hear Chinese money changers are losing interest in working with american dollars being it is becoming a risky currency to work with and china is ready to take over the world economy very soon.
If the US dollar declines in relative value, it'll simply be exchanged for less of the local money, but it will still be exchangeable. You can exchange just about any currency in the world, and the US is a big country full of natural resources, skilled labourers, and infrastructure. The US dollar will always be worth something, and to be perfectly honest if the worst came to pass and the world dumped its currency reserves and stopped trading oil in US dollars AND QE continued, you'd still just be looking at 30 - 40% drop in value. People would be hurting, but they'd still be able to downsize their lifestyles and get by.
a 30-40 percent drop would affect people who live on less than 2000 US a month some peoples pensions are only 600-1000 and that could be a big problem.
no, it's not. this is cannon fodder for the politics forum.
then please by all means explain your stance. tell me why the dollar is so strong and could never drop in value and how and why the US economy is so unstoppable?
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