Posted by Charles_Ca on 10/11/09 11:25pm
Msg #307011

Treasury freezes sales of gold coins, & China stops buying

US bonds according to an alert I received today. Buckle up! It's going to get rough expect inflation to run wild. this is not political its fact and as business people you need to anticipate the catastrophic drop in the value of the dollar! It is going ot dramatically change the business climate in the US.

Reply by John_NorCal on 10/12/09 12:29am
Msg #307013

Interesting. I've been hearing some words on this lately. I haven't seen any big swing on the FOREX though. The dollar seems to be holding it's own with a slight rally against the yen.

Reply by Cari on 10/12/09 10:27am
Msg #307030

The US dollar has been dropping for quite some time now...

and now this news is certainly not going to help.

..hmm, maybe I'll just hold onto my gold jewelry and throw the envelope out...

Reply by Glenn Strickler on 10/12/09 10:42am
Msg #307032

I haven't looked at any financial news yet as i was up very late last night and I need more coffee before I go there. , but the US Treasury suspended gold coin sales of US minted gold coins back in July. The last few debt auctions have not gone well. And the Dollar has dropped in average value on the world market about 19% just since January.

I remember reading from a link on this forum how mortgage applications have spiked. So I did a little checking and found that applications in my area are through the roof. Great, except for the fact that almost no one is getting their loans approved. Things are tighter now than a year ago.

Reply by Cari on 10/12/09 10:54am
Msg #307033

same here lots of apps but very little approvals... n/m

Reply by John_NorCal on 10/12/09 10:59am
Msg #307035

Dollar is still trading ......

at $1.478 to the Euro, which is about 3 cents more than when I was in Europe back in May. So although weak, it hasn't taken a big hit that you would expect given Charles post.

Reply by jba/fl on 10/12/09 11:47am
Msg #307041

Re: Dollar is still trading ......

Charles' [post is still looking at the future - we can only hope his crystal ball is flawed.

As a precaution, we all need to curb spending, heighten saving, plant a garden, etc.

Reply by Charles_Ca on 10/12/09 1:54pm
Msg #307066

That's not the case, the alert came in an e-mail

from a mutual fund and is a warning to current investors. I suspect that there are forces at play to support the dollar for a while and while aI don't see dramatic changes immediately I usspect that we will be seeing a sharp rise in the rate of inflation. To legitimate business the possibility of rapid inflation is a very important facet of future financial planning, ,while it may not make much difference to the average notary it will impact a lot of other businesses including the financila sector.

Reply by Glenn Strickler on 10/12/09 11:52am
Msg #307042

February 1st, 2009 Euro = $1.24

May 15th, 2009 Euro = $1.42 Stayed fairly stable until now, but showing signs again. Currenty, just before I posted this Euro = $1.49. Highly volatile, changing by a few cents every minute.

If you want to check on the real value of any currency, check it against the price of gold, the universal currency.

Reply by Laura_V on 10/13/09 8:26am
Msg #307132

Sounds like I moved closer to Canada just in time

The Canadian dollar is as close to equaling the US dollar as I have ever seen in my 6 years here.

Every week I work with at least a few clients living in Canada who are buying US real estate. Most are paying full price in cash.

Some of these clients are repeaters - buying additional rental properties for cash. Others are buying vacation homes for themselves and their families. Mostly cash deals - no loans - with these as well.

There are lots of US renters who have homes simply because a Canadian bought their apartment building or house. These Canadians are saving lots of houses from being bulldozed.

Good on them.

Yesterday was Canadian Thanksgiving. I bought a turkey cheap and cooked it, thinking I'd have a quiet day. Nope. Two appointments and phone calls for more. Thank goodness everyone drives to me. I do not miss driving all over heck and back one bit, even though it is gorgeous here.