EU will have "major $ debate" tonight

[Rolo]

PARIS (AFX) - Finance Minister Herve Gaymard said the dollar's recent declines against the euro and other major currencies must not continue, and called for better management of foreign exchange rates by European, US and Asian authorities.
'This slide must not continue, and there needs to be a better management of these rates at the international level,' Gaymard said in an interview with LCI television this morning.
He added that he wants to meet with US Treasury Secretary John Snow as soon as possible.
Gaymard also said there will be a 'major debate' on foreign exchange tonight in Brussels at a meeting of the Eurogroup, which includes eurozone finance ministers and European Central Bank president Jean-Claude Trichet.
'But, it is evident that the solution is not only in Europe, but also in the attitude of the American monetary authorities and also in that of the Asian authorities,' he said.
http://uk.biz.yahoo.com/041206/323/f7yv4.html

Will they be able to stick together, and put presure on Bush? Going to be interesting...

[Winetalk.com]

Originally posted by Rolo@Dec 6 2004, 08:05 AM

PARIS (AFX) - Finance Minister Herve Gaymard said the dollar's recent declines against the euro and other major currencies must not continue, and called for better management of foreign exchange rates by European, US and Asian authorities.
'This slide must not continue, and there needs to be a better management of these rates at the international level,' Gaymard said in an interview with LCI television this morning.
He added that he wants to meet with US Treasury Secretary John Snow as soon as possible.
Gaymard also said there will be a 'major debate' on foreign exchange tonight in Brussels at a meeting of the Eurogroup, which includes eurozone finance ministers and European Central Bank president Jean-Claude Trichet.
'But, it is evident that the solution is not only in Europe, but also in the attitude of the American monetary authorities and also in that of the Asian authorities,' he said.
http://uk.biz.yahoo.com/041206/323/f7yv4.html

Will they be able to stick together, and put presure on Bush? Going to be interesting...
Rolo,
last time shit like that happned,
the $ was 1 $ = 1.06 British Pound
;-)

efter 7 financial ministers met, the dollar started falling rapidly,
one aquitance of mine lost a gold jewlery factory, being short Swiss Franks against the dollar in those days
;-)))

[Rolo]

NEW YORK (Reuters) - President Bush plans to replace John Snow as Treasury Secretary and possible successors include Andrew Card, currently the White House chief of staff, a newspaper said Monday.

A definite decision has been made to replace Snow as soon as a successor is named, an adviser to the White House told the New York Times.

It is unclear how close Bush is to a decision on a replacement or if he has already made one, the Times said.

Aside from Card, other candidates for the Treasury post include former Sen. Phil Gramm of Texas and lawyer and venture capitalist Gerald Parsky, Republicans with ties to the White House told the Times.

Card has ties to Bush and is said to have a good rapport with members of Congress and with Federal Reserve Chairman Alan Greenspan.

Expectations that Snow would survive Bush's Cabinet makeover for at least six months have rapidly yielded to a belief that he would make a hastier exit. Snow himself said last week that any discussion about whether he stays in his post was a matter between himself and President Bush.

Snow, 65, took the Treasury helm in early 2003 after predecessor Paul O'Neill angrily resigned after breaking with the White House over tax cuts.

http://money.cnn.com/2004/12/06/news/econo....reut/index.htm (http://money.cnn.com/2004/12/06/news/economy/snow.reut/index.htm)

Maybe Bush is getting ready for change?

[Rolo]

Originally posted by Serge_Oprano@Dec 6 2004, 05:09 AM
last time shit like that happned,
the $ was 1 $ = 1.06 British Pound
Yes, politicians should learn when to speak, but also when to be silent... They might be able to slow the dollar from continue to drop against the euro, but they will not be able to "talk" the dollar up.

[Winetalk.com]

Originally posted by Rolo+Dec 6 2004, 08:14 AM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Rolo @ Dec 6 2004, 08:14 AM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-Serge_Oprano@Dec 6 2004, 05:09 AM
last time shit like that happned,
the $ was 1 $ = 1.06 British Pound
Yes, politicians should learn when to speak, but also when to be silent... They might be able to slow the dollar from continue to drop against the euro, but they will not be able to "talk" the dollar up. [/b][/quote]
Rolo, I've done some calculations and found out that my net worth in Euros went down about 40% since the day I have retired in 2000

;-(((

I am for strong dollar
;-)

Those properties in Europe look pretty compelling but expensive nowadays
;-)))

[wig]

I'm telling you... the dollar is poised for a low that will last 6 months minimum.

The cause is already a given and will be apparent AFTER the fact. :P

[Winetalk.com]

Originally posted by wig@Dec 6 2004, 08:19 AM
I'm telling you... the dollar is poised for a low that will last 6 months minimum.

The cause is already a given and will be apparent AFTER the fact. :P
wig, $$$ going lower usually correlates with interest rates going lower...
am I wrong?

[wig]

Originally posted by Serge_Oprano+Dec 6 2004, 08:21 AM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Serge_Oprano @ Dec 6 2004, 08:21 AM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-wig@Dec 6 2004, 08:19 AM
I'm telling you... the dollar is poised for a low that will last 6 months minimum.

The cause is already a given and will be apparent AFTER the fact. :P
wig, $$$ going lower usually correlates with interest rates going lower...
am I wrong? [/b][/quote]
Either way the correlation goes there is an explanation that will make sense in retrospect.

I am not a fan of making these types of correlations in the markets as I have seen too many instances to the contrary.