Jan 06, 02
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Euro Dollar!
What will happen to the Euro Dollar??? It was released to the masses a few days ago. I think it'll become the dominate currency in the world in 10 year if the economy for North America goes into a recession.
When that happens, there will be an Asian Currency. And sides will be taken. :Kam: 
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Jan 06, 02
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I dunno...Don't care...*hehe* :Kimmie:
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Jan 06, 02
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Euro
The Euro is an opportunity for European countries to increase trade and increase profits by dropping the constant need to convert money.
In Europe of late, there was big business in FX (Foreign Exchange) and the banks made a killing as well as independents with enough money to spare. In Europe the value of the Canadian debt was exchanged from several currencies to other currencies every single day before the Euro. Lets look at the cost savings: $6,000,000,000 x 3% = $180,000,000 saved per day across Europe by introducing the Euro. This will inject a lot of money into their economies but in doing so will essentially destroy a huge business there (FX). Countries like Britian who do have not introduced the Euro will likely notice little difference other than that their export prices will have to drop by about 3% in order to compete with countries using the Euro. As for the Euro coming over here, it is extremely unlikely. Should there be a massive race to consolidate currency, I could forsee: North American Currency (CAN, USA, MEX) = US Dollar (dubbed the N-Dollar by those who persue this Idea) There are several camps persuing this, but the US government isnt very keen on the idea. South American Currency (All South America) = Peso An amalgated African currency is very far away. Most African countries are still trying to attain basic economic stability at this time. Japan would never merge it's currency due to traditional beleifs and culture. China is the last communist superpower nation, and would not merge it's currency as it is very independent. The middle east is still very straught with edgy political concerns. A merger in the middle east of any kind will depend on political stability in the region. India / Pakistan / Afghanistan - no chance here as these countries are quite unstable with serious political concerns. Everywhere else is too small. I wouldn't worry about the Euro coming over here in force, no matter how bad things get. Perhaps to put things into perspective, the US Economy alone is the size of the Euros, perhaps even larger, by itself. The only condition that would cause the Euro to be adopted over here in any form would be the raising of interest rates by the Bank of Canada and the US Federal Treasury to at least 10% higher than the Euro, while the North American Economy was in a slump, and the European economy was raging. This would be because NA based companies would be borrowing Euros to build a business to sell to Europeans, due to stagnation in our own economy they wouldnt even bother exchanging the currency to Canadian or US. The only change you might notice on the Retail level is that these particular companies might accept Euros in their stores such as they Accept US dollars now, and this would only happen if there was a large number of Europeans in our country buying up things like the Japanese were in the Mid-Late 1980s. Cheers Kris
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Jan 06, 02
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Quote:
Most Peso currencies fluctuate very much, there are people who make hundreds of thousands of dollars per month purchasing futures (a capital markets derivative which is a contract to purchase or sell at a later date for a fixed price, so you essentially make profit or lose money on the fluctuation itself) on the various Peso currencies. Ironically, it's these currency futures traders who make the Peso tumble up and down in the first place. So, Inkster, if you're telling the truth, you're one of the people contributing to the volatile quality of life of people in Mexico or South America! *Somehow I thought you'd like that* haha peacout
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Jan 06, 02
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lets all go and spend our canadian cash in argentina!!!! serouisly, theyll treat uslike kings down there.
somthing like 143 billion dollars in debt down there. shiiiiiiity for them
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Oct 25, 04
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Quote:
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Oct 26, 04
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^ shut up.
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Oct 26, 04
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^ make me.
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Oct 26, 04
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^ read above.
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Oct 26, 04
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Quote:
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Oct 26, 04
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^ u first.
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Oct 26, 04
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^ *Plugs his ears* naaaaaa naaaaaaa naaaa laaaaaaa laaaaaa laaaaaaaa
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Oct 26, 04
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U can still read when u plug your ears eurodumb.:)
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Oct 26, 04
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^ blah balh leeee lee laaa tooo taaa tata laaa laaaaa
YOU READ FIRST!
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