Currencies

DKJAW12

6:48PM Nov 19 2009

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HrrPa9

11:47AM Oct 29 2009

HBaldo there in lies the question. We continue this assinine attempt to control the intractable with the elected/appointed best and brightest. It never works and never will. So much of U.S. profits remain overseas that such transfers as happens tend to be of quantitative amounts that currency valuations become rocky at best. Small timers can only act as trailers. We find at closer examination most politicians are already quite wealthy. Their pursuits remain vain attempts at self agrandisement. The moral and ethical reasons our founder's had has been replaced by such vanity that effective representation and governing by rational decision making has been reduced to a snickering event.

HBaldo

4:21PM Oct 22 2009

Yes, what to do! The Fed attempted market operations in the 80's but it became evident that the market was so big that it was soon realized that intervention to control the exchange rate of such a massive economy was impossible. What is driving the Euro/$ rate are market forces and many other conditions such as capital flight to and from the US. There are probably people out there who may have an understanding of the relative importance of the significant variables at different times and are benefiting from the decline of the Dollar. However, their knowledge is price sensitive information they are not going to share with world. Unfortunately those individuals will not work for the Fed or the Treasury for many good reasons, compensation probably being one of them. A really knowledgeable trader will receive compensation no government official could ever receive. It appears that even the government actions to regulate foreign exchange related derivatives used for hedging purposes will make it even more difficult for corporations to shield themselves from foreign adverse exchange fluctuations.

Thus, media talk about the government’s failure to step in and force a desired Euro/$ rate is really no more than an expression of faith on the omnipotent power of the government. Given the serious dislocations of the world economy from the Fed keeping domestic rates too low for too long and contributing to the real estate bubble is an indication that all of the government’s economists together simply cannot match the performance of many private sector business analysts. What amazes me to no end is that the journalists completely ignore the Fed/Treasury’s statements in the 80’s that the foreign exchange market for US Dollars is so large as to be beyond control by the government authorities.