currencies collapsing everywhere

Discussion in 'Currencies' started by leo25, Sep 4, 2018.

  1. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    2,999
    Likes Received:
    1,106
    Trophy Points:
    113
    Location:
    Sydney
    Sales on now, everything must go!

    1 local Currency to USD - highest point from 2009 onwards to now (September 2018)
    Numbers taken from www.xe.com

    Liberian Dollar:
    $0.015 to $0.006 down 96%

    Argentine Peso:
    $0.28 to $0.026 down 91%

    Turkish Lira:
    $0.71 to $0.15 down 79%

    Venezuelan Bloivar:
    $0.46 to $0.1 down 78%

    Russian Ruble:
    $0.036 to $0.014 down 62%

    Brazilian Real:
    $0.64 to $0.24 down 62%

    South African Rand:
    $0.15 to $0.067 down 56%

    Tunisian Dinar:
    $0.77 to $0.36 down 53%

    Indonesian Rupiah:
    $0.000118 to $0.00007 down 41%

    Indian Rupee:
    $0.022 to $0.014 down 37%

    And there are more, much much more.
     
    Last edited: Sep 4, 2018
  2. systematic

    systematic Well-Known Member

    Joined:
    Jun 6, 2010
    Messages:
    6,845
    Likes Received:
    317
    Trophy Points:
    83
    got a link?
     
    Silverdale likes this.
  3. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    2,999
    Likes Received:
    1,106
    Trophy Points:
    113
    Location:
    Sydney
    i pulled the numbers myself using www.xe.com or you can use any other currency exchange site.
     
    Last edited: Sep 4, 2018
    Silverdale likes this.
  4. ozcopper

    ozcopper Administrator Staff Member

    Joined:
    Jul 17, 2009
    Messages:
    16,314
    Likes Received:
    2,207
    Trophy Points:
    113
    Location:
    Australia
    USD TO AUD last 5 years.

    2013 - 6th September 91.18
    2018 - 4th September 72.02

    Down 21%
     
    66rounds and leo25 like this.
  5. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    2,999
    Likes Received:
    1,106
    Trophy Points:
    113
    Location:
    Sydney
    and people say cryptos are unstable :D
     
  6. systematic

    systematic Well-Known Member

    Joined:
    Jun 6, 2010
    Messages:
    6,845
    Likes Received:
    317
    Trophy Points:
    83
    Currencies are crap ... there is a cabal that has control of the financial system ... but most people are too stupid to realise how big the problem is ...
     
  7. jultorsk

    jultorsk Well-Known Member Silver Stacker

    Joined:
    Oct 17, 2016
    Messages:
    407
    Likes Received:
    498
    Trophy Points:
    63
    There's never just one cockroach... https://www.bloomberg.com/view/arti...y-be-facing-a-textbook-emerging-market-crisis

    "The textbook recipe for an emerging-market crisis requires a large dose of debt and an associated domestic credit bubble, including misallocation of capital into uneconomic trophy projects or financial speculation. Then add: a weak banking sector, budget deficits, current-account gaps, substantial short-term foreign-currency debt and inadequate forex reserves. Season with narrowly based industrial structures, reliance on commodity exports, institutional weaknesses, corruption and poor political and economic leadership."
     
  8. JOHNLGALT

    JOHNLGALT Well-Known Member

    Joined:
    Apr 3, 2017
    Messages:
    2,435
    Likes Received:
    787
    Trophy Points:
    113
    Location:
    Country Victoria Australia
    A lot of people don't like what Zero Hedge report, It could be the amount of swearing they've read in the comments section, some of it really evil stuff.
    However, The over last few days they have had some really informative articles on the subject of emerging countries troubles that any thinking person may want to read & then either take it in or reject it. _JOHNLGALT.
     
  9. inmizu

    inmizu Member

    Joined:
    Jul 4, 2018
    Messages:
    69
    Likes Received:
    37
    Trophy Points:
    18
    'A lot of people don't like . . . Zero Hedge'

    A mob called 'Market Oracle' are about the same; and having noted that half the authors on both sites are half mad, it is the case that these two sites -- check and re-check their claims!! -- consistently run stories at the leading-edge of the craziness in the world.
     
  10. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

    Joined:
    Dec 31, 2014
    Messages:
    1,058
    Likes Received:
    580
    Trophy Points:
    113
    Location:
    Melbourne, Australia
    This may be true, but to me they seem to be making more sense than most of the MSM.
     
  11. inmizu

    inmizu Member

    Joined:
    Jul 4, 2018
    Messages:
    69
    Likes Received:
    37
    Trophy Points:
    18
    For me, GE, whether one approves of them or not, they are just always on the knocker! They publish articles in 'deeper' stuff months before the MSM figures it out.
     
    JOHNLGALT likes this.
  12. jultorsk

    jultorsk Well-Known Member Silver Stacker

    Joined:
    Oct 17, 2016
    Messages:
    407
    Likes Received:
    498
    Trophy Points:
    63
    Went to ZH to look and found this gem about what China is doing in Africa. Yes indeed, very informative. (And yes, Europe is soooo toast.)
    https://www.zerohedge.com/news/2018-09-03/doug-casey-chinas-exploitation-africa

    "...they’re definitely exploiting Africa. We’re seeing a veritable re-colonization of Africa. Every time I visit Africa I see more and more Chinese. It doesn’t matter which country; they’re everywhere. ...
    The Chinese basically see Africans as no more than a cheap labor source. That’s at best. Other than that, they’re viewed as a complete nuisance. Basically an obstacle, a cost, standing in the way of efficient use of the continent itself. ...
    Nonetheless, Africa is going to be the epicenter of what’s happening in the world for years to come. It’s gone from being just an empty space on the map in the 19th C, to a bunch of backwater colonies in the 20th C, to a bunch of failed states that people are only vaguely aware of today. Soon, however, it will be frontpage news. And this is both because Chinese are moving to Africa in record numbers and Africans are leaving as fast as they can. ...
    Eighty years from now, Lagos, Nigeria will be the largest city in the world. It’s on track to have a population of more than 90 million. The world’s second biggest city will be Kinshasa in the Congo with about 80 million people. Dar es Salaam of Tanzania will be the world’s third biggest city with a population of roughly 75 million people."
     
    JOHNLGALT likes this.
  13. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,824
    Likes Received:
    1,511
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    [​IMG]
     
    leo25 and JOHNLGALT like this.
  14. JOHNLGALT

    JOHNLGALT Well-Known Member

    Joined:
    Apr 3, 2017
    Messages:
    2,435
    Likes Received:
    787
    Trophy Points:
    113
    Location:
    Country Victoria Australia
    Thanks for you well thought out input.
    I am just about to click on your Doug Casey link.
    I have a few of his books still since the 1970's & 80's. They got me started in the Metals way back when.
     
  15. JOHNLGALT

    JOHNLGALT Well-Known Member

    Joined:
    Apr 3, 2017
    Messages:
    2,435
    Likes Received:
    787
    Trophy Points:
    113
    Location:
    Country Victoria Australia
    Just found this podcast by Doug on King World News - just click on Doug's Link for the interview. CHEERS. _JLG.
    https://kingworldnews.com/metalla-royalty-streaming-ltd/

    EDIT to p.s. Just listened to it and it is basically an advertisement for a mining company.
     
    Last edited: Sep 5, 2018
  16. inmizu

    inmizu Member

    Joined:
    Jul 4, 2018
    Messages:
    69
    Likes Received:
    37
    Trophy Points:
    18
    JOHNLGALT likes this.
  17. pmbug

    pmbug Active Member

    Joined:
    Oct 22, 2011
    Messages:
    285
    Likes Received:
    42
    Trophy Points:
    28
    Location:
    Texas
    The issue with emerging market currencies has do to with the current Fed policy of raising interest rates:

    https://www.jsmineset.com/2018/09/01/light-vs-darkness-now/
     
  18. Pirocco

    Pirocco Well-Known Member

    Joined:
    May 24, 2011
    Messages:
    4,881
    Likes Received:
    96
    Trophy Points:
    48
    Location:
    EUSSR
    The thing is, nearly all those currency values are relative to those of other currencies, meaning that any drop implies a rise of other currency or currencies. In other words: it's a global nothingsayer.
    To give an example: up to end 2015, china and us governments kep their currencies pegged.
    From 2016 onwards, they added the euro and yen to that peg. Unlike what some suggest, the dollar was not replaced.

    https://en.wikipedia.org/wiki/International_status_and_usage_of_the_euro
    [​IMG]
    As one can see, despite all the negativity thrown on the dollar, it is still worlds governments major reserve currency, by a factor 3 times the rest together. And that factor does not show any downtrend on a term significant relative to the one of prices inflation. it's still on the same level as in 1995. The governments-forced newcomer Euro mostly just replaced the role of the German Mark, and later on most of the others worth mentioning.

    So that "everywhere", in these days, should be taken with a grain salt.
    Todays world is one of worldwide monetary planning by worlds governments together.
    They... help... eachother alike loyal members of a maffia, and thus manipulate the values of their currencies, to undo effects of speculators.
     
  19. pmbug

    pmbug Active Member

    Joined:
    Oct 22, 2011
    Messages:
    285
    Likes Received:
    42
    Trophy Points:
    28
    Location:
    Texas
    Other than the fact that they are all dropping against the dollar, which is the necessary currency for them to trade, borrow and attract investment capital in the world markets, which puts tremendous stress on their economies. Sure.
     
    leo25 likes this.
  20. Pirocco

    Pirocco Well-Known Member

    Joined:
    May 24, 2011
    Messages:
    4,881
    Likes Received:
    96
    Trophy Points:
    48
    Location:
    EUSSR
    But the other fact is that the dollar index value is derived from a formula that puts them relative to eachother, and that there are quite some currencies pegged, causing the impossibility to all rise, or drop, simultaneously. So if the dollar, with a high weight in the formula rises, then other currencies have to drop the same as a total. And vice versa. And how is it actually done? Well, with currency swaps. If speculators treaten to cause one currency to rise beyond, or drop under, a central planned limit, the central/national banks make the opposite swap, undoing the effect.
    So stress, well not exactly...
     

Share This Page