Tech sites sidestepping USD for Euro

[LegendKiller]

Originally posted by: Linflas

Originally posted by: LegendKiller
Probably european sites like toms where it makes sense to denominate in euros. Any other sites?

Quit bringing common sense to a thread devoted to yet more overwrought whining about the mild economic downturn the US is currently experiencing. Just remember for a lot of these folks the Ford-Carter days of stagflation, 18% mortgages, and 10% unemployment are just notes in history books that happened before they were born.

The fearmongering index has been quite high these days.

 

[imported_Lothar]

So what?

 

[Deadtrees]

If U.S dollar is no longer a international currency, U.S economy will fall without wings.

 

[sandorski]

Originally posted by: NanoStuff
One step forward towards a global currency. Whatever way we can make life easier in these hectic times.

Actually, it is a step away from a Global Currency. Up to this point the $US was the World Currency.

 

[sandorski]

Originally posted by: IsLNdbOi
Isn't there something in the Bible that says that when there's only one currency left / used, then the end is near? :Q

Not exactly. Some have interpreted things that way though.

 

[Jeff7]

Originally posted by: Linflas

Originally posted by: Jeff7
Oh man, I listened to a classmate yesterday talk about the American system, and we won't switch to metric because it's America, and we use the American measurement system here. It was like listening to Stephen Colbert, except that this guy was being serious about it. He says that the American (he kept calling it this, too) system is so much easier than metric, but he couldn't tell me off the top of his head how many yards are in a mile.
"But the rest of the world uses metric."
"So what, we're in America."
😕
Logic and reason can't fight that kind of thinking.
He's the same one who did speeches in an Effective Speech class on how American-made products are always high quality because of our high standards. (Enforced by the government of course, not by our loving pride.) Never mind all of the food recalls due to E Coli contamination in good old American-made products.

So it isn't just stubbornness. It's a misguided sense of feverish nationalism.


16 oz in a pound
2000 pounds in a ton
32 fl oz in a quart
8 oz in a cup
12 inches in a foot

It's like combining cryptography with measurements.

Sorry but I don't buy that. I suspect it is more the fact that most people in the US have used the English system since they were old enough to start using measurements and therefore they are much more familiar and comfortable with that system. As long as they don't perceive any overriding need to convert to metric it won't happen. The jingoistic/nationalistic statements thrown out by some people are just a shortcut and sometimes tongue in cheek way of saying they can't be bothered to learn a whole new system when they have what seems to be a workable system already in place. The average person doesn't cling to the English system for nationalistic reasons, they cling to it because it requires no thought on their part when someone tells them something is a couple of feet over there or a package weighs a couple of pounds.

In this person's case, it's both. Yes, I'm familiar with feet and inches, because it's what I was effectively "calibrated" with when I was little.
What I don't like are the stupid arguments, like using the system because "it's American," with that sort of emphasis, or other things like, "Gas is going to cost more because of being measured in liters."
There was his comment on, "So what, we're in America," that I found telling. It's the sort of attitude of, "We're in the US, why should we care about the rest of the world?" which I've seen reflected numerous times in his conversation.

We're in an engineering program, too, and I always find that working in metric is so much easier. There's a collective groan when we have to work with mass in English units, because no one ever uses lbm or slugs. It sucks trying to convert using "G-sub-c", some notation thing that I only just heard of this semester to convert between lbf and lbm, or at least I think that's what it's for.
Want to convert from kg to N on Earth? N = kg * 9.81m/s^2. Done. Unit conversion is always easy, and errors are easy to see. Off by a factor of 1000? It's almost certainly a units problem. Compare that to English, or worse, English/metric conversions. Off by a factor of 472.441? Unit errors don't immediately spring to mind, but maybe you just are off by a factor of 39.37*12 (=472.441) because of what truly is a unit conversion error.

At least half of our engineering problems are in metric. The sciences use metric. Becoming proficient at it is quite beneficial in this sort of discipline. And because of the factors-of-10 unit conversions, I find it to be much easier to use.


So yes, for many, converting to metric is a pain, because their daily lives don't require the use of other measurement systems. But for some, it is a matter of national pride, from some sense that the Imperial system is somehow "American." The only reason that it can be called "American" is because we're the only nation still clinging to an archaic system.

 

[Lazy8s]

Originally posted by: nCred

Originally posted by: StinkyPinky

Originally posted by: Braznor
Sometimes a cheaper dollar could potentially boost your exports, as American goods become cheaper for the world markets over other countries.

What exactly does the US make though?

<a target=_blank class=ftalternatingbarlinklarge href="https://www.cia.gov/library/publications/the-world-factbook/geos/us.html">https://www.cia.gov/library......tbook/geos/us.html</a>

Exports - commodities:
agricultural products (soybeans, fruit, corn) 9.2%, industrial supplies (organic chemicals) 26.8%, capital goods (transistors, aircraft, motor vehicle parts, computers, telecommunications equipment) 49.0%, consumer goods (automobiles, medicines) 15.0% (2003)

They forgot guns and landmines.

 

[Safeway]

Originally posted by: Lazy8s

Originally posted by: nCred

Originally posted by: StinkyPinky

Originally posted by: Braznor
Sometimes a cheaper dollar could potentially boost your exports, as American goods become cheaper for the world markets over other countries.

What exactly does the US make though?

<a target=_blank class=ftalternatingbarlinklarge href="https://www.cia.gov/library/pu...-factbook/geos/us.html"><a target=_blank class=ftalternatingbarlinklarge href="https://www.cia.gov/library/publications/the-world-factbook/geos/us.html">https://www.cia.gov/libr.........k/geos/us.html</a></a>

Exports - commodities:
agricultural products (soybeans, fruit, corn) 9.2%, industrial supplies (organic chemicals) 26.8%, capital goods (transistors, aircraft, motor vehicle parts, computers, telecommunications equipment) 49.0%, consumer goods (automobiles, medicines) 15.0% (2003)

They forgot guns and landmines.

I thought those were imports.

 

[Linflas]

Originally posted by: Jeff7

Originally posted by: Linflas

Originally posted by: Jeff7
Oh man, I listened to a classmate yesterday talk about the American system, and we won't switch to metric because it's America, and we use the American measurement system here. It was like listening to Stephen Colbert, except that this guy was being serious about it. He says that the American (he kept calling it this, too) system is so much easier than metric, but he couldn't tell me off the top of his head how many yards are in a mile.
"But the rest of the world uses metric."
"So what, we're in America."
😕
Logic and reason can't fight that kind of thinking.
He's the same one who did speeches in an Effective Speech class on how American-made products are always high quality because of our high standards. (Enforced by the government of course, not by our loving pride.) Never mind all of the food recalls due to E Coli contamination in good old American-made products.

So it isn't just stubbornness. It's a misguided sense of feverish nationalism.


16 oz in a pound
2000 pounds in a ton
32 fl oz in a quart
8 oz in a cup
12 inches in a foot

It's like combining cryptography with measurements.

Sorry but I don't buy that. I suspect it is more the fact that most people in the US have used the English system since they were old enough to start using measurements and therefore they are much more familiar and comfortable with that system. As long as they don't perceive any overriding need to convert to metric it won't happen. The jingoistic/nationalistic statements thrown out by some people are just a shortcut and sometimes tongue in cheek way of saying they can't be bothered to learn a whole new system when they have what seems to be a workable system already in place. The average person doesn't cling to the English system for nationalistic reasons, they cling to it because it requires no thought on their part when someone tells them something is a couple of feet over there or a package weighs a couple of pounds.

In this person's case, it's both. Yes, I'm familiar with feet and inches, because it's what I was effectively "calibrated" with when I was little.
What I don't like are the stupid arguments, like using the system because "it's American," with that sort of emphasis, or other things like, "Gas is going to cost more because of being measured in liters."
There was his comment on, "So what, we're in America," that I found telling. It's the sort of attitude of, "We're in the US, why should we care about the rest of the world?" which I've seen reflected numerous times in his conversation.

We're in an engineering program, too, and I always find that working in metric is so much easier. There's a collective groan when we have to work with mass in English units, because no one ever uses lbm or slugs. It sucks trying to convert using "G-sub-c", some notation thing that I only just heard of this semester to convert between lbf and lbm, or at least I think that's what it's for.
Want to convert from kg to N on Earth? N = kg * 9.81m/s^2. Done. Unit conversion is always easy, and errors are easy to see. Off by a factor of 1000? It's almost certainly a units problem. Compare that to English, or worse, English/metric conversions. Off by a factor of 472.441? Unit errors don't immediately spring to mind, but maybe you just are off by a factor of 39.37*12 (=472.441) because of what truly is a unit conversion error.

At least half of our engineering problems are in metric. The sciences use metric. Becoming proficient at it is quite beneficial in this sort of discipline. And because of the factors-of-10 unit conversions, I find it to be much easier to use.


So yes, for many, converting to metric is a pain, because their daily lives don't require the use of other measurement systems. But for some, it is a matter of national pride, from some sense that the Imperial system is somehow "American." The only reason that it can be called "American" is because we're the only nation still clinging to an archaic system.

The mistake you make IMHO is in extrapolating a classmates comments into this is why the US refuses to switch to metric. BTW we are not the "only nation still clinging to an archaic system".

EU gives up on 'metric Britain'. European Union commissioners have ruled that Britain can carry on using imperial measurements such as pints, pounds and miles.

 

[alkemyst]

Most people don't realize the Great Depression was directly caused by a half dozen or so of the nation's wealthiest driving up their stocks and then pulling out of the market totally en masse.

We are set up to have that happen again even worse now as our money is backed by NOTHING.

People critize rappers/celebrities pouring all their money into cars, property and jewelry. However, those are tangible goods and have an inherent value.

Paper is just paper.

 

[manowar821]

Originally posted by: Aflac
Americans would never accept it.

I couldn't care less.

 

[cliftonite]

Originally posted by: alkemyst
Most people don't realize the Great Depression was directly caused by a half dozen or so of the nation's wealthiest driving up their stocks and then pulling out of the market totally en masse.
We are set up to have that happen again even worse now as our money is backed by NOTHING.

People critize rappers/celebrities pouring all their money into cars, property and jewelry. However, those are tangible goods and have an inherent value.

Paper is just paper.

I havent heard of this can you provide some documentation?

 

[Nitemare]

until DC stops treating money like it grows on trees our Dollar will continue to devalue into shit

 

[abaez]

There was a good article in the WSJ yesterday about how the U.S. dollar could move away from not being the de facto global currency.

Article said it was possible, but with so many countries, exports and other things tied to the dollar, it would be extremely difficult.

 

[GTaudiophile]

I for one am looking into moving a savings account or two overseas as well as looking more into foreign/Euro-backed investments.

As I have been saying on P&N, the Dollar will soon be replaced by the Euro as the world-reserve currency, and once that happens, the USD will become the next Peso.

Where will your money be when that happens?

 

[imported_cinder]

For those that say we are still using imperial over metric its not entirely true. In the manufacturing industry, including many American made vehicles, we have moved to metric long ago. It is just not logical to waste time on complicated conversations versus simple powers of 10 with the metric system.

I have some new questions. Why is the USD going down and the Euro going up? I understand mainly our economy drives the USD but how many different economies drive the Euro? What actions can we take to help our economy grow?

 

[mcmilljb]

It's the Euro... so I expect every European Union member would be helping to bump it. The bump in the Euro is mainly due to the US's slowing economy and problems with a lot of financials. The housing market took a toll on a lot of people both directly and indirectly. EU nations are still doing well, which would explain why the Euro goes up.

*Edit*
Think of the housing market as the snowball that starts rolling down a hill. As it gets better it hits more stuff. Until issues start being resolved, we can't start to regain a true rally of the USD and the economy.

 

[potato28]

Originally posted by: GTaudiophile
I for one am looking into moving a savings account or two overseas as well as looking more into foreign/Euro-backed investments.

As I have been saying on P&N, the Dollar will soon be replaced by the Euro as the world-reserve currency, and once that happens, the USD will become the next Peso.

Where will your money be when that happens?

In a Canadian bank. I do like the Euro's system more than the American monetary system. The 1 euro and 2 euro coins are just more viable in a normal environment, and the coloured bills really help in day to day life.

 

[JS80]

Originally posted by: cliftonite

Originally posted by: alkemyst
Most people don't realize the Great Depression was directly caused by a half dozen or so of the nation's wealthiest driving up their stocks and then pulling out of the market totally en masse.
We are set up to have that happen again even worse now as our money is backed by NOTHING.

People critize rappers/celebrities pouring all their money into cars, property and jewelry. However, those are tangible goods and have an inherent value.

Paper is just paper.

I havent heard of this can you provide some documentation?

It's the same story, people using leverage (borrowed money) to push up stock prices and when everyone starts a fire sale prices drop and liquidity dries up and the entire economy slows down. It was more than a half dozen but back then only the elite had access to the markets and leverage. Difference today is everyone and their grandmothers can open an etrade account and buy on margin. Plus the hedge funds now have massive amounts of leverage to blow up with.

The euro is overvalued. Once the US economy turns around the euro will reverse. It's all cyclical.

 

[ponyo]

Originally posted by: GTaudiophile
I for one am looking into moving a savings account or two overseas as well as looking more into foreign/Euro-backed investments.

As I have been saying on P&N, the Dollar will soon be replaced by the Euro as the world-reserve currency, and once that happens, the USD will become the next Peso.

Where will your money be when that happens?

You should hurry and move to Europe while you're at it.

I rather invest in the US than Europe anyday. Ask Buffett. He's been bearish on the dollar since the early 00's and still is, yet he thinks there are more opportunities for investment in the US than in sometime. Buffett > you.

 

[LegendKiller]

Originally posted by: alkemyst
Most people don't realize the Great Depression was directly caused by a half dozen or so of the nation's wealthiest driving up their stocks and then pulling out of the market totally en masse.

We are set up to have that happen again even worse now as our money is backed by NOTHING.

People critize rappers/celebrities pouring all their money into cars, property and jewelry. However, those are tangible goods and have an inherent value.

Paper is just paper.

Christ, it was not. I swear, people like this should get their posting rights removed.

The GD was caused by your average American taking out loans from banks and shoving the money into the stock market. Further leverage was used through margin accounts, funded by banks. When the bubble finally burst, because stocks had become so overvalued, the banks failed because they couldn't get money back from worthless stocks. This caused runs on banks and bank failures. The problem was exacerbated by the Fed raising rates to protect the currency, fighting off inflation.

The downturn in the market wasn't caused by the wealthy pulling out, it was simple realization of over valuation, similar to the .bombs.

Quit spreading FUDD.

 

[LegendKiller]

Originally posted by: Naustica

Originally posted by: GTaudiophile
I for one am looking into moving a savings account or two overseas as well as looking more into foreign/Euro-backed investments.

As I have been saying on P&N, the Dollar will soon be replaced by the Euro as the world-reserve currency, and once that happens, the USD will become the next Peso.

Where will your money be when that happens?

You should hurry and move to Europe while you're at it.

I rather invest in the US than Europe anyday. Ask Buffett. He's been bearish on the dollar since the early 00's and still is, yet he thinks there are more opportunities for investment in the US than in sometime. Buffett > you.

Don't use the logic, it might short-circuit his tinfoil covered economics starved brain.

 

[LegendKiller]

Originally posted by: JS80

Originally posted by: cliftonite

Originally posted by: alkemyst
Most people don't realize the Great Depression was directly caused by a half dozen or so of the nation's wealthiest driving up their stocks and then pulling out of the market totally en masse.
We are set up to have that happen again even worse now as our money is backed by NOTHING.

People critize rappers/celebrities pouring all their money into cars, property and jewelry. However, those are tangible goods and have an inherent value.

Paper is just paper.

I havent heard of this can you provide some documentation?

It's the same story, people using leverage (borrowed money) to push up stock prices and when everyone starts a fire sale prices drop and liquidity dries up and the entire economy slows down. It was more than a half dozen but back then only the elite had access to the markets and leverage. Difference today is everyone and their grandmothers can open an etrade account and buy on margin. Plus the hedge funds now have massive amounts of leverage to blow up with.

The euro is overvalued. Once the US economy turns around the euro will reverse. It's all cyclical.

Everybody was using leverage back then.

Agreed on the cyclical nature.

 

[villageidiot111]

I think we should just adopt a worldwide currency, the eartho.

 

[alkemyst]

Originally posted by: LegendKiller

Originally posted by: JS80

Originally posted by: cliftonite

Originally posted by: alkemyst
Most people don't realize the Great Depression was directly caused by a half dozen or so of the nation's wealthiest driving up their stocks and then pulling out of the market totally en masse.
We are set up to have that happen again even worse now as our money is backed by NOTHING.

People critize rappers/celebrities pouring all their money into cars, property and jewelry. However, those are tangible goods and have an inherent value.

Paper is just paper.

I havent heard of this can you provide some documentation?

It's the same story, people using leverage (borrowed money) to push up stock prices and when everyone starts a fire sale prices drop and liquidity dries up and the entire economy slows down. It was more than a half dozen but back then only the elite had access to the markets and leverage. Difference today is everyone and their grandmothers can open an etrade account and buy on margin. Plus the hedge funds now have massive amounts of leverage to blow up with.

The euro is overvalued. Once the US economy turns around the euro will reverse. It's all cyclical.

Everybody was using leverage back then.

Agreed on the cyclical nature.

The fall had nothing to do with the leverage. The leverage was needed to drive up the prices even more (like the real estate boom and people offering even assistance to the borrowers to get them into property).

There were only a few principals that caused that market collapse.

It allowed the creation of the Federal Reserve Bank which is not a total government agency...it's really private in nature when it comes down to it.

Things like the Aldritch-Vreeland Act began to set the stage.

With Aldrich behind the wheel his circle (Morgan, Rockenfeller, etc) could use their influence to better their own hands.

This was also one of the benchmarks that labelled Republicans as anti-common man. The democrats at the time wanted a TOTAL government run facility...in reality the government needed help to bail the people out though.

The Federal Reserve Act, got the democrats some of what they wanted...but it's still not totally government controlled.

In reality the same people that rose to power back when knights in shining armor rode around are the same in control still.

The scary part of all this is the value of our money is controlled by simply how much is printed really (in layman's terms)...

That zeigeistmovie.com site has a bit about this...sensationalized somewhat, but it's easily researchable and none of it was illegal.

It's just like monopolies and price fixing was ok for a while and made people insanely wealthy.