Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

This is a very interesting conversation but none of us know what is going to happen to the euro in the long run.

Originally Posted by rickos

Guys, I just don't get it.
Dubai's problems don't matter, other countries problems and imminent defaults don't matter, but, Greece who's budget is probably smaller than Chicago's may bring about the end of civilization as we know it.
Unless it matters "Just Because" they feel like making it matter.

We’ve known for some time that Italy and Ireland are at risk for default — and just this week, we saw how investors’ fears have caused them to begin dumping British pounds and gilts (bonds) like there’s no tomorrow.


Put simply, it would only take ONE sovereign debt default to crush this anemic recovery ... but no fewer than TEN major Western countries are now at risk!

rickos dont take it personal as greece really is not the problem and the world is beginning to see that, they just happened to be the flavor of the week for a couple weeks

I just want everyone to know how much I enjoy reading your posts....it's like having a history lesson all over again with some economics thrown in there!!!! lol Anyway, I do enjoy it and would like to say I'm with ya Bill ... ;-)

This whole discussion going on has little to do with Forex according to me. But who am I to speak! Nevertheless I dont see the French Franc, Deutsche Mark, Italian Lira, Spanish Peseta, Austrian Schilling and, yes Rickos, the Drahma coming back into the Market. (Would be interesting for trading though!) All over the world there are problems of a kind going on, not just in Greece (Or Europe). We may just have to face it that the 7 bad years are on the rise, all over and not just Europe.

Originally Posted by rickos

The problem is, You, as many others, only know what the media tells them.
14 salaries. Guilty as charged. However, they did not tell you what that salary is, 700 - 1,200 take home pay a month, or that those 2 extra months were given in the past instead of a human raise, or that Greeks have to make do with the above salary while paying for products at the same price as any other of the ADVANCED countries. And don't workers in other countries get a Christmas bonus for example? And that is the public sector. Private sector worker are worse off. I won't go into the other comment because I will assume you're joking. Therefore I won't ask how many hours a day the Irish are sober...

700 - 1200€ a month? If expenditures are the same as in France like you say, that's a hard thing ...

Missing, in France, your mars, just pay double

Originally Posted by AjsooOO

700 - 1200€ a month? Damn, if expenditures are the same as in France like you say, that's a hard thing ...

It is hard. And AjsooOO, that's what really gets to me. That the media talks about 14 salaries and that's it. So their problem is the extra 2,000 a year that they get??? Where in Europe do people live on 14,000 a year? And as I said, this is the public sector. In the private sector it is much less.

And it really is very simple. I won't go into the fact again, that European supermarkets like DIA CARREFOUR and LIDL charge MORE for their products in Greece than elsewhere. Since their products are in Euros, it is easy to see that they charge AT LEAST the same.
So there is your answer.

Originally Posted by CodyB

We’ve known for some time that Italy and Ireland are at risk for default — and just this week, we saw how investors’ fears have caused them to begin dumping British pounds and gilts (bonds) like there’s no tomorrow.


Put simply, it would only take ONE sovereign debt default to crush this anemic recovery ... but no fewer than TEN major Western countries are now at risk!

rickos dont take it personal as greece really is not the problem and the world is beginning to see that, they just happened to be the flavor of the week for a couple weeks

Cody, I don't take it personally, and I even joke about it. It's when the media starts reporting only what it wants, and mostly German media, that I get riled up and feel like kicking Bill in the face...

I get riled up and feel like kicking Bill in the face...

Hell! What did I do, what did I say? I can think of nothing that deserves a kick in the Face.

Bill

Originally Posted by Nickels & Dimes

This whole discussion going on has little to do with Forex according to me. But who am I to speak! Nevertheless I dont see the French Franc, Deutsche Mark, Italian Lira, Spanish Peseta, Austrian Schilling and, yes Rickos, the Drahma coming back into the Market. (Would be interesting for trading though!) All over the world there are problems of a kind going on, not just in Greece (Or Europe). We may just have to face it that the 7 bad years are on the rise, all over and not just Europe.

It has everything to do with it. All of this so far is what's started and continued the EUR/USD downtrend. It's why the shorts have prevailed over the longs...all because of things we're discussing here today.

Until all of the negative sentiment "wears off" we'll likely continue to have a downtrend in EUR/USD.

Originally Posted by bill2759

I get riled up and feel like kicking Bill in the face...

Hell! What did I do, what did I say? I can think of nothing that deserves a kick in the Face.

Bill

I was just kidding. You seem to be easygoing, and therefore an obvious target of the Wrath of Khan...

Like I've said a million times, the Greek govt. screwed up. But the German media has gone overboard in its misinformation regarding the Greek people.

And Sean, I didn't see your on answer on forking over some dough...
Papandreou will be in Washington on the 9th per Obama's sudden invitation. Are you starting to sweat????

What did I do, what did I say? I can think of nothing that deserves a kick in the Face.
Bill"

I dont think you did anything Bill. Maybe everyone is jealous you're making so much money

If you say so Sean. But very soon we'll be seeing 1.38 first before we're going down again. Of course thats just me who's predicting. In the paper today there was this article about those wise guys who had given their analyzes in 2009, all of them were wrong. Let's see. Have a nice day Sean.

Originally Posted by Nickels & Dimes

If you say so Sean. But very soon we'll be seeing 1.38 first before we're going down again. Of course thats just me who's predicting. In the paper today there was this article about those wise guys who had given their analyzes in 2009, all of them were wrong. Let's see. Have a nice day Sean.

And if we get to 1.38 or 1.40, etc...we're still in the larger downtrend. That's why I call it a "bear market rally".

Originally Posted by CodyB

ahh but they have and gold entered the picture far into transactions between cultures

you seem to say many things that have no factual base to them so please back up what you post..same problem when you tried to explain bonds, opinions are ok but pleae do not try to make them facts



History of currency is a wide concept. In all the history of the world currency evolution is marked with lots of changes. First of all we were trading with commodity money. Many cultures around the world eventually developed the use of commodity money. Ancient China and Africa used cowrie shells. Trade in Japan's feudal system was based on the koku - a unit of rice per year. The shekel was an ancient unit of weight and currency. The first usage of the term came from Mesopotamia circa 3000 BC and referred to a specific weight of barley, which related other values in a metric such as silver, bronze, copper etc. A barley/shekel was originally both a unit of currency and a unit of weight.


After commodity money we were passing through standardized coinage. Coinage was widely adopted across Ionia and mainland Greece during the 6th century B.C., eventually leading to the Athenian Empire's 5th century B.C., dominance of the region through their export of silver coinage, mined in southern Attica at Laurium and Thorikos. A major silver vein discovery at Laurium in 483 BC led to the huge expansion of the Athenian military fleet. Competing coinage standards at the time were maintained by Mytilene and Phokaia using coins of Electrum; Aegina used silver. It was the discovery of the touchstone which led the way for metal-based commodity money and coinage. Any soft metal can be tested for purity on a touchstone, allowing one to quickly calculate the total content of a particular metal in a lump. Gold is a soft metal, which is also hard to come by, dense, and storable. As a result, monetary gold spread very quickly from Asia Minor, where it first gained wide usage, to the entire world.

I love your post, now I know a little about the history of money, I read a lot about history of war, but did not know any of that about how we got to this form of money, I would like to go back and deal in the KOKU unit please...can we convert the USD to KOKU UNITS?

I will email renegade, as he in control of our gov...I did not know he is a smoker....

In Korea shortly after the Ceasefire. A Pack of Smokes, a Bar of soap and a Candy Bar could get you as much as Gold. Heck! Nobody had any Money but the Troops, and that was funny money anyway. (Military Payment Certificates). They used to call it all in and issue new stuff occasionally to keep the Chinese counterfitters in a Quandry.


Hell! That ain't History, I was there.

Bill

Originally Posted by adam6655nyc

I love your post, now I know a little about the history of money, I read a lot about history of war, but did not know any of that about how we got to this form of money, I would like to go back and deal in the KOKU unit please...can we convert the USD to KOKU UNITS?

I will email renegade, as he in control of our gov...I did not know he is a smoker....