United States Bank of Serta
I've been trading Forex (foreign currencies) for a year now, and the more read, talk with investors worldwide (forexfactory.com), and learn about economics, the more I am concerned for the health of our economy.
The Chinese are maneuvering so that their currency may be positioned to be to be the go-to currency instead of dollars http://www.forbes.com/feeds/reuters/2009/09/04/2009-09-04T053921Z_01_PEK314853_RTRIDST_0_CHINA-IMF-BONDS-UPDATE-2.html
Forex investors are moving their money out of the US due to lack of confidence, bad exchange rates, and lack of regulation. Also, new regulations make it a unprotected, unfriendly place for them to put their money. Even US forex brokers are telling their clients to move their funds to another country (i.e. Alpari US moving their clients to Alpari UK)
Foreign lending gets a grilling at http://libertymaven.com/2009/07/21/alan-grayson-grills-ben-bernanke-on-foreign-lending/6555/ . The US is frantically lending out funds to keep interest rates artificially low. In this clip, they lend to NZ at the rate of $3000 for every citizien there.
The main currencies I trade are the Euro and the US dollar. Fascinating to hear traders worldwide give their news info without the filter of the US media that is so prevalent, and to hear their experiences and interpretations of what is going on in the US. The bottom line--they consider the USD to continue to fall in value because of the government's willingness to spend like crazy and just keep printing paper http://www.bloomberg.com/apps/news?pid=20601087&sid=a.SW_71xPhjA
Guess the best we can do it gather job skills, be debt-free and independent as possible, and be prepared.
Deep sigh.
The Chinese are maneuvering so that their currency may be positioned to be to be the go-to currency instead of dollars http://www.forbes.com/feeds/reuters/2009/09/04/2009-09-04T053921Z_01_PEK314853_RTRIDST_0_CHINA-IMF-BONDS-UPDATE-2.html
Forex investors are moving their money out of the US due to lack of confidence, bad exchange rates, and lack of regulation. Also, new regulations make it a unprotected, unfriendly place for them to put their money. Even US forex brokers are telling their clients to move their funds to another country (i.e. Alpari US moving their clients to Alpari UK)
Foreign lending gets a grilling at http://libertymaven.com/2009/07/21/alan-grayson-grills-ben-bernanke-on-foreign-lending/6555/ . The US is frantically lending out funds to keep interest rates artificially low. In this clip, they lend to NZ at the rate of $3000 for every citizien there.
The main currencies I trade are the Euro and the US dollar. Fascinating to hear traders worldwide give their news info without the filter of the US media that is so prevalent, and to hear their experiences and interpretations of what is going on in the US. The bottom line--they consider the USD to continue to fall in value because of the government's willingness to spend like crazy and just keep printing paper http://www.bloomberg.com/apps/news?pid=20601087&sid=a.SW_71xPhjA
Guess the best we can do it gather job skills, be debt-free and independent as possible, and be prepared.
Deep sigh.