America Sucks

[freemehul]

I already did, you're just too slow to pick it up apparently

[Jo3MoMMa]

I already did, you're just too slow to pick it up apparently

apparently your talking out your ass, yes the euro is worth more then the dollar good job, now look up whats held more as a reserve currency.

[Bishop]

Currently its the dollar, but that has steadily been losing ground to the euro. About 1/4 of funds are now held in euros, opposed to 2/3rds in dollars. If the dollar continues to suck in about 10 years the euro will be dominant. If the UK joined the yoyo then it would be even faster.

Don't forget though that about a 3rd of all this is owned by china, a country who had less than 10% 10 years ago.

[freemehul]

Currently its the dollar, but that has steadily been losing ground to the euro. About 1/4 of funds are now held in euros, opposed to 2/3rds in dollars. If the dollar continues to suck in about 10 years the euro will be dominant. If the UK joined the yoyo then it would be even faster.

Don't forget though that about a 3rd of all this is owned by china, a country who had less than 10% 10 years ago.

that's true, currency wise concerned China made a spectacular growth

[Jo3MoMMa]

So now your agreeing

[Bishop]

Actually my point backed up what freemehul said.

[Jo3MoMMa]

Im pretty sure it backs up what i said
Seeings i said the same thing a few posts back
60% are dollars and 25% are euros.
the reason i brought it up was cause the majority of the debt which is to the fed
is causing the demise of the dollar (which was the original debate, trillions owed to the fed or to other countries and which is worse)
which is why the dollar is falling as a reserve currency


Also in 10 years or so you'll not only see the euro equal or surpass the dollar but the yuan will be more dominant on the foriegn market.
As china makes moves now to internationalize it.

[Bishop]

Um, no - you said pretty much the opposite

Please at least check yourself before you say something is false, from 99-03 the euro balloned as a world reserve currency, but it hasnt seen the huge gains since then. As of now the euro is around 25% wheres as the dollar holds strong at 60%. This is due to the GDP of the united states being the largest in the world. yes the combined efforts of all of europe does give it the slight edge, but the fact remains that they are a combined effort.

Euro wasnt around really in 99 - it wasnt until 02 that it was a sole currency in countries. The gains have been increasing since it was introduced and today the euro is the currency with the highest monetary value in the world (i.e theres more of it than any other currency in circulation). The Dollar can hardly be described as "holding strong".

But again, china isnt really going to be collecting on the debt, not when the US is their largest market - reserve currency or not.

[Jo3MoMMa]

Also America is the issuer of the world's most dominant reserve currency and the world's most plentiful safe asset. Foreigners hold huge stocks of dollars and Treasuries and other dollar-denominated securities, and they therefore have an incentive to support the dollar and Treasury prices.

As the growing debt is accredited to the Fed all that goes out the window.

You have to read this first, then he said this was false, so then i made that statement after.

So i was stating the dollar is going to be well, FAIL
but as of now it is still the dominant reserve currency
which your post agrees with me on
and actually sayd the dollar is going to be well FAIL also

and im pretty sure i never said Holding Strong, but id definitely retract that if i did

[freemehul]

psst Bishop, just ignore him (he doesn't appear to know what he's saying) ;)

[Jo3MoMMa]

Got to be a language barrier or or context barrier or something

What would you say the topic of debate was freemehul