The dollar is about to collapse, should we change all our dollars to pesos? - Page 3

absoluteAL · 05-01-2011

Quote:

Originally Posted by January Guy

I would never bet on foreign currency, period. We are playing a foreign currency trading game in class right now, and I started with $100,000 and now only have $5,000. I amazingly got smoked with the Yen strengthen against the $ right after the earthquake.

I got humbled really quickly.

One word: GOLD.

Gold is currently about $1547 USD/oz. Check the 40 year graphs on gold values.

January Guy · 05-01-2011

Quote:

Originally Posted by Chango

I live in PDC, how many of you actually live here or come here a few times a year?

How did you loose 95% of your money (just the earthquake, which wouldn't be bad investment, just bad luck)

The dollar to peso rate went from 12.60 last month to 11.48 as of tonight at wal mart. It will inflate until it collapses like all currencies in the past.

When you trade foreign currency, you can trade on margin (our game uses 100:1 margin), so you can lose really quick in that case.

absoluteAL · 05-01-2011

Quote:

Originally Posted by Chango

The dollar to peso rate went from 12.60 last month to 11.48 as of tonight at wal mart. It will inflate until it collapses like all currencies in the past.

But they won't change $1000 at that rate as they are not a cambio. You must buy goods and your change on USD will be at 11.48 pesos/USD.
Sam's Club will not take $100 bills (USD).

By the way, I live here (4 years) and have been coming here for 10 years. And you?

Chango · 05-01-2011

Quote:

Originally Posted by absoluteAL

But they won't change $1000 at that rate as they are not a cambio. You must buy goods and your change on USD will be at 11.48 pesos/USD.
Sam's Club will not take $100 bills (USD).

By the way, I live here (4 years) and have been coming here for 10 years. And you?

your point?

You can go to a bank and do it at better rate.

me 2 yrs

Babaloo · 05-01-2011

Quote:

Originally Posted by Chango

your point?

You can go to a bank and do it at better rate.

me 2 yrs

And you get your rate from Walmart?

**Jesus** · 05-02-2011

Quote:

Originally Posted by January Guy

I would never bet on foreign currency, period. We are playing a foreign currency trading game in class right now, and I started with $100,000 and now only have $5,000. I amazingly got smoked with the Yen strengthen against the $ right after the earthquake.

I got humbled really quickly.

And the person wining the game, What currency did he/she elected?

**Jesus** · 05-02-2011

Quote:

Originally Posted by absoluteAL

One word: GOLD.

Gold is currently about $1547 USD/oz. Check the 40 year graphs on gold values.

The wise thing would have been to buy gold 5 years ago,

absoluteAL · 05-02-2011

Quote:

Originally Posted by Jesus

The wise thing would have been to buy gold 5 years ago,

Forty years ago would be alot better. In 1971 gold was less than $40/ounce.

ProfessorPibil · 05-02-2011

The gold bubble has survived as it's too small of a market for anyone to care, but if it goes too crazy then there's nothing saying the regulators have to allow
you to keep trading it.

Here's a chart you might want to consider before going for gold:

Inflation adjusted Gold Price Chart

January Guy · 05-02-2011

Quote:

Originally Posted by Jesus

And the person wining the game, What currency did he/she elected?

Our game sucks so I can't see it on a real time basis. But some guy tripled him money by shorting the Yen once it spiked agaisnt the dollar a couple days after the quake. The Yen was really volatile in a short time, bouncing between 81 and 85 yen to the dollar. But, we are using 100:1 leverage, so big bets produce huge gains/losses with small currency swings. The game is more to build awareness than anything. We focus more on hedging currency risks than trying to profit as a speculator.

rainmaker · 05-02-2011

Interesting thread..
Mexico now enjoy's the 8th largest economy in the world with an expected growth this year of 5.5%..
Oil will never run out..it is there and Pemex is now allowing foreign exploration rights in partnerships with Pemex, (Pemex will always own the oil and gas)They are also allowing foreign companies with new expertise to recover oil from older and vacated wells to recover the resourse with the newer methods.
2 years ago, the peso was trading at 13.85 to 1 USD..today, 11.65 to 1 USD ( to purchase USD)
My bet?? peso is a good bet to make some $$$$ I predict a 10 to 1 exchange within 12 months..
On another note, if Canadians elect a majority government today, invest in CDN $$$....The CND debt vs the US debt is pale in comparison. It will take many years for the US to overcome their debt crisis...
Just my opinion...

January Guy · 05-02-2011

Quote:

Originally Posted by rainmaker

Interesting thread..
Mexico now enjoy's the 8th largest economy in the world with an

Just curious where you got this info. The international monetary fund show Mexico as 14th. But maybe you have new info.

European Union16,282,230[4]1

United States14,657,8002

People's Republic of China5,878,2573

Japan5,458,8724

Germany3,315,6435

France2,582,5276

United Kingdom2,247,4557

Brazil2,090,3148

Italy2,055,1149

Canada1,574,05110

India1,537,96611

Russia1,465,07912

Spain1,409,94613

Australia1,235,53914

Mexico1,039,121

Wilfam · 05-02-2011

Rain, I am waiting.

Unfortunately we Canadians sometimes shoot ourselves in the foot.

UGG =

If it's not a majority all hell may possibly break out. If NDP is in, we will see the Mining and exploration leave within days. UGG !! Taxes will go up and UGG !! If the Liberals get in the West gets screwed and we would have to deal with Iggy. UGG !! Our BC Liberals were a great government, In my opionion, but we are voting Fedrally. UGG

Waiting with my fingers crossed here North of the Border, Majority and I am keeping my CDN $$.

Great topic everyone.

Rissask · 05-02-2011

"Mining and exploration will be gone if the NDP get in."

I think someone's been drinking the Conservative Kool-Aid.

I did not vote NDP...but they would not be that stupid to kill our economy....how the hell would they make everyone pay for more welfare recipients?

Higher taxes again? Now that I will give you.

They won't get in. It will be another Conservative minority gov't. My prediction.

EDA: Dang. lol. Looks like a majority. Crap on a cracker.

ETA: It's actually California that has the world's 8th largest economy....or did?

rainmaker · 05-03-2011

Quote:

Originally Posted by January Guy

Just curious where you got this info. The international monetary fund show Mexico as 14th. But maybe you have new info.

European Union16,282,230[4]1

United States14,657,8002

People's Republic of China5,878,2573

Japan5,458,8724

Germany3,315,6435

France2,582,5276

United Kingdom2,247,4557

Brazil2,090,3148

Italy2,055,1149

Canada1,574,05110

India1,537,96611

Russia1,465,07912

Spain1,409,94613

Australia1,235,53914

Mexico1,039,121

\

I will try to find that article..It was just 2 weeks ago when I read it..

05-02-2011	#44 (permalink)
Rissask Canada Dry Join Date: Aug 2004 Location: Saskatchewan, Canada Posts: 49,560	"Mining and exploration will be gone if the NDP get in." I think someone's been drinking the Conservative Kool-Aid. I did not vote NDP...but they would not be that stupid to kill our economy....how the hell would they make everyone pay for more welfare recipients? Higher taxes again? Now that I will give you. They won't get in. It will be another Conservative minority gov't. My prediction. EDA: Dang. lol. Looks like a majority. Crap on a cracker. ETA: It's actually California that has the world's 8th largest economy....or did? Last edited by Rissask; 05-02-2011 at 09:35 PM..

05-02-2011	#39 (permalink)
ProfessorPibil añejo Join Date: Feb 2009 Posts: 1,507	The gold bubble has survived as it's too small of a market for anyone to care, but if it goes too crazy then there's nothing saying the regulators have to allow you to keep trading it. Here's a chart you might want to consider before going for gold: Inflation adjusted Gold Price Chart

05-02-2011	#41 (permalink)
rainmaker life=playa Join Date: Nov 2006 Location: Calgary and Playa Posts: 902	Interesting thread.. Mexico now enjoy's the 8th largest economy in the world with an expected growth this year of 5.5%.. Oil will never run out..it is there and Pemex is now allowing foreign exploration rights in partnerships with Pemex, (Pemex will always own the oil and gas)They are also allowing foreign companies with new expertise to recover oil from older and vacated wells to recover the resourse with the newer methods. 2 years ago, the peso was trading at 13.85 to 1 USD..today, 11.65 to 1 USD ( to purchase USD) My bet?? peso is a good bet to make some $$$$ I predict a 10 to 1 exchange within 12 months.. On another note, if Canadians elect a majority government today, invest in CDN $$$....The CND debt vs the US debt is pale in comparison. It will take many years for the US to overcome their debt crisis... Just my opinion...

05-02-2011	#43 (permalink)
Wilfam beachaholic Join Date: Nov 2006 Location: Central BC, Canada Posts: 452	Rain, I am waiting. Unfortunately we Canadians sometimes shoot ourselves in the foot. UGG = If it's not a majority all hell may possibly break out. If NDP is in, we will see the Mining and exploration leave within days. UGG !! Taxes will go up and UGG !! If the Liberals get in the West gets screwed and we would have to deal with Iggy. UGG !! Our BC Liberals were a great government, In my opionion, but we are voting Fedrally. UGG Waiting with my fingers crossed here North of the Border, Majority and I am keeping my CDN $$. Great topic everyone.

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