Korean Job Discussion Forums

[No_hite_pls]

Anyone?

[mises]

Impossible to know. Nobody knows what is going on day to day anymore.

[Ya-ta Boy]

Why is it strengthening at all?

[mises]

It, and government bonds denominated it in, are seen as the last totally safe spot on earth. If you have billions to watch over, the money market funds and banks aren't stable enough. Oddly, as global equity markets recover, the dollar should decrease in value.

Remember also that the dollar is gaining against other currencies. As oil gets cheaper (and other commodity prices deflate) other central banks have to worry less about inflation and can create more "liquidity" to save their banking systems and stimulate aggregate demand. Also, the "short dollar", "long energy" is unwinding.

But really. Who knows anymore. The whole system is a total clusterfuck right now.

[Ya-ta Boy]

I feel like I should be looking around for the most profligate, wasteful, irresponsible person I know and hand over my bank account number to him/her for safe-keeping...you know, just to keep in step with the best financial minds of the times.

[mindmetoo]

I got thousands of bux in US. And I work in the Canadian software industry. So a strong $US is good for me. Really good.

[RJjr]

I'm not sure what's going on with the dollar. If I had to guess, I think it will strengthen over the short term, but eventually collapse under the weight of our debts.

One of my hobbies throughout my life has been to get boxes and bags of pennies from the bank to look for rare ones. Over the past four or five years, I've been hoarding all of the 95% copper ones too in an attempt to simultaneously hedge against both inflation and deflation. But a person has to really have a strong interest in numismatics for it to be worthwhile, since it's tedious.

[seosan08]

To quote Chris Laird in a recent article:

http://www.kitco.com/ind/Laird/oct232008.html

"........Since the resource correction this year, all the BRIC nations and commodity economies have taken big hits. That is causing sell offs in emerging markets, which drives demand for USD that repatriates back to the US. Everyone worldwide wants dollars as markets deleverage.

Hedge funds and big money market funds are having huge redemptions. That drives demand for dollars, and stocks are falling and will continue to fall. In short, as markets deleverage worldwide, and there is flight to US Treasuries by all, (and other good sovereign bonds) and demand for the USD rises..........."

In a nutshell, everyone is losing their ass and are having to sell assets to cover losses. The US$ is having a field day now, but it won't last long into 2009, at which time, the dollar will fall faster than a than a bitch slapped crack *beep*.

The fundamentals of the USA have not changed, except the US$ is temporarily strong. Bad debt, outsourced jobs, falling land values, etc... The US economy is going to crash, it's just having an Indian Summer before it does. Gold and silver prices are being suppressed on paper by COMEX, but there is a huge difference between paper and real world prices. You can't touch gold and silver for it's paper price.

The moral of the story is, a financial shit storm is coming world wide, and those with precious metals will come out ahead!

[mises]