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USD is going down! What to do?

Discussion in 'General Business' started by 8everything, Jul 6, 2007.

  1. A.G

    A.G Well-Known Member

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    #161
    share you with this it can't be down
     
    A.G, Jul 29, 2007 IP
  2. demosfen

    demosfen Peon

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    #162
    The best thing about gold is that you can buy/sell it for cash anonymously and avoid IRS.
    There isn't a lot of other confidential investment opportunities out there.
     
    demosfen, Jul 29, 2007 IP
  3. Game Producer

    Game Producer Well-Known Member

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    #163
    Finally some light in the end of the tunnel... the exchange rate went slightly up. (and made many people richer ;))
     
    Game Producer, Aug 2, 2007 IP
  4. 8everything

    8everything Peon

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    #164
    i noticed a nice increase a few days ago :p (so I converted) it's still not a significant change though.
     
    8everything, Aug 2, 2007 IP
  5. Awareness

    Awareness Banned

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    #165
    But moving in the right direction.:)
     
    Awareness, Aug 2, 2007 IP
  6. bylla

    bylla Peon

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    #166
    The USD is going down again :(

    [​IMG]

    /Andreas
     
    bylla, Aug 2, 2007 IP
  7. rhyswynne

    rhyswynne Active Member

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    #167
    My primary sponsor pays me in £'s.

    Needless to say, If I emigrated to the US, I'd be able to buy Microsoft.
     
    rhyswynne, Aug 2, 2007 IP
  8. axemedia

    axemedia Guest

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    #168
    8everything, I'm in the same boat, here is what I do.

    I have Canadian and US clients. I usually bill the Canadians in Loonies and Americans in Greenbacks through Paypal. I always deal in USD with US residents. Its the money those clients have. I sometime bill Canadians in USD, but not often.

    For past year while CAD was going up and USD down I would store my excess funds in CAD and convert to USD as needed for purchases. To minimize the shrinking buying power while it sat in US funds. I like how you can keep balances in different currencies in paypal.

    As USD continues to drop compared to CAD I would consider raising your prices after it breaks past parity. Instead of charging $500 USD charge $510, 520, 530, whatever.

    But, i never looked into the exact amount Paypal charges on conversions. I should next time.
     
    axemedia, Aug 2, 2007 IP
    8everything likes this.
  9. antman

    antman Well-Known Member

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    #169
    Seems to be the highest point for PayPal for Australians at the moment, just converted some $$$.

    I recommend the same to other Australians, I've been tracking it for nearly a month now, it's good :)
     
    antman, Aug 2, 2007 IP
  10. demosfen

    demosfen Peon

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    #170
    I've been thinking about converting my balance to something more stable too, like euro or swiss francs. The problem is I am in the US so I'd have to pay conversion charges when I convert to euro, and then again when I convert back. Can't spend it if it's not USD
    When euro replaces dollar as world's reserve currency it will be a little easier
     
    demosfen, Aug 2, 2007 IP
  11. Subesh

    Subesh Active Member

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    #171
    Hehe when USD goes down its good news for us CANADIANS :)
     
    Subesh, Aug 2, 2007 IP
  12. A.G

    A.G Well-Known Member

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    #172
    its best days for Canadian Dollar
    at this moment its USD worth 1.05 CAD
     
    A.G, Aug 2, 2007 IP
  13. axemedia

    axemedia Guest

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    #173
    Be carefull spreading false statements like that.

    The value of gold can and does go down. It's a commodity like any other that is traded on the open market.

    26 years ago it was over $800/oz. Then it went on a long slide downwards to $260/oz. It's been going back up past few years and is now about $650/oz. Been moving up and down between $700 and $600 for past 6 months.
     
    axemedia, Aug 2, 2007 IP
  14. A.G

    A.G Well-Known Member

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    #174
    Gold is commodity but it's rare one and by time goes there will be small amount discovered in gold mines so according to Supply & Demand Theory , the Demand will increase but the Supply is low so gold price will go high.

    I guess that's why he said gold Gold never goes down
     
    A.G, Aug 2, 2007 IP
  15. Brandon Sheley

    Brandon Sheley Illustrious Member

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    #175
    it's funny, cuz my 100$ usd from last month is still worth 100$ this month.

    Go figure :rolleyes:
     
    Brandon Sheley, Aug 2, 2007 IP
  16. demosfen

    demosfen Peon

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    #176
    $100 still will be worth $100 in 2015, the problem is dollar won't buy you much. Thanks Greenspan. :D

    Gold does go down, like everything else. It comes back every time though, an ounce will buy you a cow today like it did 1000 years ago. Every paper currency in existence lost most of it's value within less than 100 years of being issued (except when backed by gold or hard assets, like swiss franc)
     
    demosfen, Aug 2, 2007 IP
  17. A.G

    A.G Well-Known Member

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    #177
    it's know that When US Dollar goes Down then Gold price go UP in the Market
    and same thing for opposite direction
     
    A.G, Aug 2, 2007 IP
  18. axemedia

    axemedia Guest

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    #178
    In general yes, but not always. Gold can go down when dollar goes down as well as gold go up while dollar goes up. They are not 100% dependent upon each other.

    The rarity of gold is not the issue. It's a heavily recycled commodity, and they are still digging lots of it out of the ground. Its not about the actual demand and supply of the real stuff, its the demand and supply of buyers and sellers that sets the price. Or to be more specific its the demand and supply of paper contracts (futures, options, etc.) that represent gold. These contracts can change hands many times and nobody even sees any real gold. In this way gold is no different than paper money.

    And no, the statement that a certain weight of gold will still buy a cow, no matter the price of gold at any time in history, is false. All the anti-inflation, anti-federal reserve, gold bugs spread this information, and many of them believe it, but its just not true. If i was a farmer and my cow was worth $800 to me, i would want $800 worth of gold. In 1981 i would have taken 1 oz. 5 years ago I would have wanted 3 or 4 ounces, today I would take 1.25 ounces. Now if we takin into accout inflation, those numbers would be a bit different, but they would not all even out to 1 oz.

    The value of the swiss franc goes up and it goes down in relation to other currencies. Even when backed by gold its value can, and sometimes does, go down when gold goes up. But since 2000 the frank is no longer fixed by 40% gold like it used to be.
     
    axemedia, Aug 2, 2007 IP
  19. Game Producer

    Game Producer Well-Known Member

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    #179
    You are one lucky guy. My $100 is worth only $95 :D

    Yep. Watched news that reported: "dollar is likely to down again when the employment rate in the USA is made public on Friday".

    Shame really.
     
    Game Producer, Aug 2, 2007 IP
  20. demosfen

    demosfen Peon

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    #180
    I made lots of money buying gold when Federal Reserve prints money and selling it when it doesn't :cool:
     
    demosfen, Aug 3, 2007 IP