I'm getting really concerned about the dollar dropping.

[CanonRay]

Am I crazy? I've been watching it against the British pound, and it's down over 3 cents in the last few days. The implications for our economy could be devastating.

[sinkingfeeling]

1. You're concerned. I'm planning on retiring in Ireland. Euro=$1.32!

[movonne]

2. I have been waiting for this a long time...I am surprised it didn't

happen sooner...we can't keep borrowing money like we have and not to suspect trouble ahead..it is scary...

[Abuhans]

3. Inflation is inevitable

With a fiat monetary system. I think the dollar goes down on average 2% annually because the Federal Reserve Bank is always printing out more money than is destroyed. I would encourage everyone to put money in a reserve fund of precious metals to offset whatever losses they may take with a declining dollar.

[Selatius]

7. There's nothing wrong with fiat currency, per se. There is something wrong with....

fractional reserve banking though. Nearly all the inflation in prices accumulated over the decades since the passage of the Federal Reserve Act can be linked to fractional reserve banking.

[Abuhans]

9. You're right

[RB TexLa]

4. As long as you hold positions in multiple currencies

or at least securities diversified across world sectors, a devaluation of one currency won't hurt you.

[jannyk]

5. Look for it to strengthen against the Euro after Jan 15th

that's when I get back from Paris. :eyes:

[sui generis]

6. isn't that odd

it's almost like, um, if you take all your income and all your assets and you stack that up against your short term and long term liabilities and debt and then try to figure out what you're worth. If you bought an extra war last year at a high interest rate and increased your kids' allowance, plus payed the plumber a 100K per visit to install a couple of light switches and a faucet, your net worth today would be less than last year, compared to your neighbor.

Of course not that simple, but in a nutshell: we're getting what we didn't pay for.

[madrchsod]

8. actually it would be very good for our economy if-

we made something in this country to sell overseas. what we could sell is tourism but since the restrictions/ bush policies we have lost billions of dollars and ten`s of thousands of jobs in the tourist industry. the pound is at 1.93 or so and that means a dirt cheap holiday in america for the brits. and even the euro at 1.25 or so makes the usa a bargain.

[ayeshahaqqiqa]

10. Don't read about the Mayan Calendar, then

they've been predicting that this year will bring about the rise of eastern economies (China, India) and the decline and fall of the US dollar.

www.mayanmajix.com