USD vs EURO

[MarcBrown]

oh man, the future doesn't look bright does it?

once it goes to 2usd for 1euro it sure won't be so much fun doing stuff in europe.

what do you think and does it concern you at all?

and can some experts say what the reasons might be and what could be done to prevent further decline?

[JBinKC]

Of course it does. When our government dropped the M3 peg that was a very clear sign IMO. All we do is import stuff, run up large government deficits and consumers borrow to the hilt. I am shocked we got away with these shenanigans for as long as we have. Basic needs inflation is running rampant and the low numbers they post are very manipulated.

All you can do to counter it is to buy commodities (things you need now and use in quantity while they are affordable) and/or to transfer your money into stock markets bonds or banks derived in countries with stronger currencies.

[stefan@usaindebt]

Of course it does. When our government dropped the M3 peg that was a very clear sign IMO. All we do is import stuff, run up large government deficits and consumers borrow to the hilt. I am shocked we got away with these shenanigans for as long as we have. Basic needs inflation is running rampant and the low numbers they post are very manipulated.

All you can do to counter it is to buy commodities (things you need now and use in quantity while they are affordable) and/or to transfer your money into stock markets bonds or banks derived in countries with stronger currencies.

100% true. I wrote an article on this on USAinDebt - it was about the us dollar losing the battle and I have to tell you, I usually go on vacation in Europe, but next summer, I don't know if I would be able to afford it. The euro is killing the US dollar.

[Biscuit]

Is it possible for someone to open a bank account (in the U.S.) in EUROs rather than dollars? Or can you only open EURO accounts in Europe? Thanks.

[Broken Arrow]

Is it possible for someone to open a bank account (in the U.S.) in EUROs rather than dollars? Or can you only open EURO accounts in Europe? Thanks.

What about just Forex?

It's also worth noting that, possibly, the Dollar is currently undervalued. Therefore, the contrarian bet is to stay with the Dollar until it rebounds. Eventually.

[krayziebone33]

stay with the Dollar until it rebounds. Eventually.

I think people are underestimating the dollar's ability to rebound. The dollar value has fluctuated quite a bit in the last two decades and has always managed to rebound after losing some ground. Is there some cause for concern right now? Absolutely. However, I don't think that we should push the panic button just yet.

[Jaun22]

I hope it rebounds soon.