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Bye bye dollar?

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pinguin View Drop Down
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    Posted: 22 Feb 2011 at 11:29
Brazil and China are studying to replace dollars in theirs bilateral relation.

http://www.youtube.com/watch?v=t8PE0YeiSiI&feature=related

A sign of the times? Wink
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Post Options Post Options   Thanks (0) Thanks(0)   Quote drgonzaga Quote  Post ReplyReply Direct Link To This Post Posted: 22 Feb 2011 at 13:55
Er, Penguin, what iceberg are you floating on today?
 
This narrative tells you what's really going on...
 
 
And even the WSJ is more sanguine:
 
 
The reality:
 
The Chinese are as much a pain in the ass as the US when it comes to currency practices affecting Brazil and its economy--
 
 
 
Honi soit qui mal y pense
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pinguin Quote  Post ReplyReply Direct Link To This Post Posted: 22 Feb 2011 at 22:14
Indeed, as your own selections show, Brazil is not interesting in following Wall Street in this issue.
Brazil is interested in direct trade with theirs Chinese comrades, rather than following American advice. And every indicator is showing an structural decline of the U.S. currency, ways should be found to replace it.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote drgonzaga Quote  Post ReplyReply Direct Link To This Post Posted: 22 Feb 2011 at 23:11
Garbage...the Brazilians are not about to play the "China" game and export jobs to the Great Sino-Sweat Factory so as to reimport the cheaper production. And this reality leads me to wonder whether the implications of what was cited reached any level of understanding on your part. But, as is readily obvious these details do not concern you in your repeated efforts to perorate upon "yanqui bashing". Perhaps you should be more worried about the value of the Chilean peso to the Brazilian Real: 1 Real = 281.3 CPesos.  As for your search for "ways" that has been a fruitless preoccupation going back to the days of "le grand Charles"--he of the Gallic proboscis--and guess what "it ain't going to happen" until after the United States ceases to be the largest consumer market on the face of the planet--profligacy has its advantages--with an integrated agrarian base.
 
By now you should be growing tired of all of these meaningless threads whose sole purpose is to antagonize by bringing up the pending doom of the United States. Give it a rest and stop behaving like some petulant adolescent forever in need of a good parental thrashing.


Edited by drgonzaga - 22 Feb 2011 at 23:12
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pinguin Quote  Post ReplyReply Direct Link To This Post Posted: 22 Feb 2011 at 23:44
Originally posted by drgonzaga drgonzaga wrote:

Garbage...the Brazilians are not about to play the "China" game and export jobs to the Great Sino-Sweat Factory so as to reimport the cheaper production. And this reality leads me to wonder whether the implications of what was cited reached any level of understanding on your part. But, as is readily obvious these details do not concern you in your repeated efforts to perorate upon "yanqui bashing". Perhaps you should be more worried about the value of the Chilean peso to the Brazilian Real: 1 Real = 281.3 CPesos.  As for your search for "ways" that has been a fruitless preoccupation going back to the days of "le grand Charles"--he of the Gallic proboscis--and guess what "it ain't going to happen" until after the United States ceases to be the largest consumer market on the face of the planet--profligacy has its advantages--with an integrated agrarian base.
 
By now you should be growing tired of all of these meaningless threads whose sole purpose is to antagonize by bringing up the pending doom of the United States. Give it a rest and stop behaving like some petulant adolescent forever in need of a good parental thrashing.


Yours analysis is garbage, indeed.

It really amazes me your lack of knowledge about exchange rates. The fact 1 Real=281.3 Chilean pesos doesn't mean the Real is stronger than the peso. Those figures are nominal, only. What matters is what money devaluates with respect to the other. And the dollar is continuosly devaluating with respect to the Chilean peso. Confused

What matter in this thread is that world economies don't trust dollars anymore in the way they used. The dollar is becoming an obstacle to trade, because it continue falling. Something else has to be found, and quickly.




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Post Options Post Options   Thanks (0) Thanks(0)   Quote drgonzaga Quote  Post ReplyReply Direct Link To This Post Posted: 23 Feb 2011 at 00:46
You've answered your own question and underscored why your original declaration was garbage. Obstacle to trade? Better to worry about the mercury content of your Chilean sea bass!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pinguin Quote  Post ReplyReply Direct Link To This Post Posted: 23 Feb 2011 at 01:02
Originally posted by drgonzaga drgonzaga wrote:

You've answered your own question and underscored why your original declaration was garbage. Obstacle to trade? Better to worry about the mercury content of your Chilean sea bass!


Smoke curtain again? In any case, dollars still have some applications




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Post Options Post Options   Thanks (0) Thanks(0)   Quote drgonzaga Quote  Post ReplyReply Direct Link To This Post Posted: 23 Feb 2011 at 01:26
Good LORD! That's 43,000+ Chilean pesos, which do come in handy as nose wipes during allergy season.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pinguin Quote  Post ReplyReply Direct Link To This Post Posted: 23 Feb 2011 at 01:28
That was yesterday. Today is only 42.000 pesos.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote drgonzaga Quote  Post ReplyReply Direct Link To This Post Posted: 23 Feb 2011 at 02:44
But you are wrong, oh Mapuche breath.  The latest data is actually higher:
 
 Chilean Pesos to 1 USD (invert,data)
120 days latest (Feb 21)
468.253
lowest (Dec 30)
467.929
highest (Jan 10)
498.744
 
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pinguin Quote  Post ReplyReply Direct Link To This Post Posted: 23 Feb 2011 at 03:43
Originally posted by drgonzaga drgonzaga wrote:

Mapuche breath.


RACIST ATTACK, you Gallego!


Originally posted by drgonzaga drgonzaga wrote:


 The latest data is actually higher:
 
 Chilean Pesos to 1 USD (invert,data)
120 days latest (Feb 21)
468.253
lowest (Dec 30)
467.929
highest (Jan 10)
498.744
 
 


Falling and falling... Do you know in the 90s the exchange rate was about the same, but our internal prices doubled since? That means the dollar is keeping losing its value. Dollars anyone?




Edited by pinguin - 23 Feb 2011 at 03:44
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Post Options Post Options   Thanks (0) Thanks(0)   Quote opuslola Quote  Post ReplyReply Direct Link To This Post Posted: 23 Feb 2011 at 09:02
What is really strange is the fact that the current president of the USA, does not seem to give a sh-it?
 
Just why is that?  Is it because he is a Marxist?
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pinguin Quote  Post ReplyReply Direct Link To This Post Posted: 23 Feb 2011 at 09:12
Originally posted by opuslola opuslola wrote:

What is really strange is the fact that the current president of the USA, does not seem to give a sh-it?
 
Just why is that?  Is it because he is a Marxist?


Perhaps it is not much what he can do with the huge deficit left by American militarism. Just imagine a country that waste half its budget in "deffense" Confused. That's the U.S. The deficit is the black hole that is sucking the U.S. economy.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote gcle2003 Quote  Post ReplyReply Direct Link To This Post Posted: 23 Feb 2011 at 20:35
Of course he's not a Marxist. He's a typical US moderate Republican, as many of today's Democratic party are.
 
It is, for instance, not coincidence that the slide in the value of the dollar has corresponded these last couple of years with an improvement in the Dow (which is measured in nominal dolllars) and especially a rise in nominal banking profits.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Al Jassas Quote  Post ReplyReply Direct Link To This Post Posted: 24 Feb 2011 at 02:23

Let them study as much as they want. As long as the Dollar is the currency of choice for oil and as long as the US is the largest importer of goods and as long as China, Japan and gulf states have more dollars than the US the dollar will keep its value.

What will happen is similar to the Pound. A general degradation of its value over time until some sort of super currency takes place either by agreement or by default.
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pinguin Quote  Post ReplyReply Direct Link To This Post Posted: 24 Feb 2011 at 02:57
That may change as well. China is spreading its commerce worldwide. There is no reason why that country will depend forever on the dollar.


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Post Options Post Options   Thanks (0) Thanks(0)   Quote gcle2003 Quote  Post ReplyReply Direct Link To This Post Posted: 24 Feb 2011 at 03:21
Originally posted by Al Jassas Al Jassas wrote:

Let them study as much as they want. As long as the Dollar is the currency of choice for oil and as long as the US is the largest importer of goods and as long as China, Japan and gulf states have more dollars than the US the dollar will keep its value.

What will happen is similar to the Pound. A general degradation of its value over time until some sort of super currency takes place either by agreement or by default.
 
Al-Jassas
Agreed, but rather misses the point, which is how long will your conditions stay in effect. Granted while they do nothing will change much, but the thesis being floated is that they could change very quickly.
 
Indeed as happened with the pound. From 1947 to the early '70s the pound's value against the dollar dropped 14/15 % - from 1947 to 68 it didn't drop at all just fluctuating up or down 1-2%
In the next ten years it more than halved against the dollar, after which it rose slightly and hasn't changed much since. But that drop from about 1973 - 1983 was staggering when you consider that in that period the UK became self-sufficient in oil.
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