Are western currency's on the verge of collapse?
Here are 3 very interesting and very distrurbing charts
The US dollar vs the Chinese Yuan — One US dollar buys about 7 Yuans — but dips 3 times in April to nothing and once in May — 4 DROPS to almost zero
http://ca.finance.yahoo.com/currency/convert?from=USD&to=CNY&amt=1&t=3m
And the Canadian dollar does the same thing
http://ca.finance.yahoo.com/currency/convert?from=CAD&to=CNY&amt=1&t=3m From 1 Cdn dollar buying 5 Yuans to almost zero —4 times
And the Euro does the same thing during the same time frames as the US and Canadian dollars
http://ca.finance.yahoo.com/currency/convert?from=EUR&to=CNY&amt=1&t=3m
———————-
What the hell happened between April 3rd and 23rd and again just after May 13th ?
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I think the answer is yes. Part of the market is purely psychological meaning money is worth what people think it is. That’s why this will be vigorously denied until it’s too late and prices rise ten times or more.
There’s a chance disaster is averted but how big that is is virtually impossible to estimate just because there’s a whole lot of secrecy and deliberate lack of openness.
This is another issue again where I hope we’re wrong, very very wrong but to me it looks like the correct answer is yes.
Yes.
You will see the American Dollar laying around on the ground along with pennies.Might as well wipe you ass with it in the coming years.It will be worth about as much as the Redback was in the Republic of Texas.
If these people have their way:
http://www.cnn.com/2009/POLITICS/04/14/extremism.report/
It would seem so…..but it would adversely effect so many nations, it would be sad for us all.
Yeah these are the results of economic mismanagement for 9 years.
No the US dollars decline is due to the global economic crisis as well as America’s domestic economic downturn. The dollar will rise in value again, this isn’t the first time we have had to recover.
The chinese own large caches of dollars and loans out to the US as well so that has helped the conversion rate, it to will bounce back.
The Euro dollar is stronger because of the EU which helps the UK pound, the UK has almost as high a national debt as the US and is 1/5 of our size so on scale the only thing holding them up is the EU.
Don’t hit your panic button just yet, it took a while to get into this mess and it will take awhile to recover but the USA will recover, and the value of the dollar will increase with that recovery.
Yahoo! Finance is not a data source upon which professional investors rely for market pricing. The most sophisticated investors pay a heavy subscription to Bloomberg to set up special terminals, and Bloomberg stands behind the accuracy of its pricing. Yahoo! Finance should be considered only for entertainment purposes.
Analyzing Bloomberg data, you do not see those dips. I also googled other sources so you could see for yourself. Here is one [1] that shows the exchange saying between an extremely tight range. Quite simply, the data behind the charts that you linked was screwed up.
At any rate, I do think that western currencies may be in serious trouble even though your data source does not back up that conclusion. Here is an article [2] that influences my view on the matter.