Wednesday, Dec 17, 2008
Is the dollar likely to remain the worlds reserve currenc?
Bloomberg: Dollar Declines to 13-Year Low Against Yen After Fed Rate Cut
Dec. 17 (Bloomberg) -- The dollar fell to a 13-year low against the yen and the weakest versus the euro in 11 weeks after the Federal Reserve cut its target interest rate to the lowest among the world’s industrialized nations.
Posted by flintster1994 @ 08:48 AM (656 views) Add Comment
10 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. bellwether said...
Flinster and the alternative being???
2. flintster1994 said...
bellwether
Personally I havn't made my mind up yet to an alternative. Although I certaily think the dollars days are numbered. Don't you?
3. drewster said...
I've been thinking the dollar's days are numbered for even longer than I've been anticipating a house price crash! The dollar may be low against the Yen, but it's not as bad against the rest of the world's currencies. It'll be used as a reserve for a long time yet.
4. mountain goat said...
5. mountain goat said...
Pics above taken from here
6. sold 2 rent 1 said...
US Bonds are next
7. bellwether said...
Flinster the days of the USD may be numbered but not in the time frames you imagine.
There is no viable alternative right now.
The ultimate strength of the USD is based on 2 factors (1) innovation - it continues to have world leading corporations even recent technology is dominated by us companies from IBM through Microsoft to Google and (2) Military capability - the dollar will collapse when this does, and critically only then!
8. bellwether said...
MG agreed US treasuries are overbought but where is the money going to go? People rushed into bonds long after it was clear that the US were looking to devalue their currency and suddenly everyone is at it, even the ECB.
I suspect the only likely destinations for the money are stocks, which is what the US want or gold, which is not what they want.
9. seanb303 said...
bellwether
and the petro dollar
10. mountain goat said...
Bellweather - I have been reading the Bernanke is quite happy to see gold appreciate because he wants a weak dollar, or even better a devalued dollar.