$ slide

[Osesame]

Have you got any $ sitting around in accounts.It might be wise to get them back into sterling or euros.

see http://www.ft.com/cms/s/dca2809c-7bf...int%3Dyes.html

Nice post

I am a bit of a dunce with all this All my poker sites are in $ but my neteller account is in £. Over the last couple of days I have cleared most of my Prima accounts into neteller, would it be wise to clear most of the sites into neteller and then deposit as needed on the $ sites ?

Cheers

[Osesame]

that would be a good idea imo.

This excerpt from a blog is interesting.

Impending Collapse of the Petrol Dollar-When Iran and Russia and Venezuela start selling their oil for Euros instead of dollars, the dollar will become virtually worthless and the U.S. economy will crash. The US is the largest debtor nation in the world and yet, the media claims we’re the most powerful economy on the planet.
C.F.R.-The Council on Foreign Relations dictates domestic and foreign policy for the U.S. and the C.F.R. provides the U.S. voters with a choice of C.F.R. Bush or C.F.R. Kerry. I believe Barry Goldwater was the only major party candidate for president since the 40’s that was not a member. This club of elitists has unlimited power over our lives.
The Federal Reserve Bank-Created by the Federal Reserve Act of 1913, this traitorous Act gave a private cabal of the most powerful bankers, the job of printing our money supply, loaning it to the government and then charging an interest rate for repayment of this loan. Before 1913, the U.S. government printed the dollar and it was worth a dollar-now it is worth 4 cents!

http://www.rinf.com/columnists/news/...ia-lying-about

[aliando]

on a kind of partly(?)-related side note....



i assume that poker has $ prizes as theres a huge american interest.

although with recent legal changes in the american laws, should the prizes actually remain in $'s?

If i was to be my usual cynical self, i would assume that prizes are in american $'s to make the prize funds look bigger ($10k would be equivalent to around £6k for example)

[Valiant23]

while sterling gained 0.9 per cent to a 1½-year peak of $1.9333.

I'm probably wrong here but I think this means our dollar buy-ins are actually cheaper.

When I started playing the exchange rate was about $1.8 to £1 and it dropped to about $1.7 to £1.

• @ $1.9 to £1 you pay 52p per dollar in entry fees
• @ $1.8 to £1 you pay 55p per dollar in entry fees
• @ $1.7 to £1 you pay 58p per dollar in entry fees

The downside of course is that you win less.

I'd suggest that now would be a bad time to convert to pounds unless you need to, in the hope that the exchange rate goes to about $1.7 yo £1....

Its a big enough gamble playing poker without having to play the 'amateur' economist afterwards...


Thanks Os, my brain hurts now.

[aliando]

with re: to the maths (and please be gentle, i've not slept after my last nihgt shift)...

given that you place money into an account and play poker, and then withdraw any winning there and then, surely you would not really lose out - the ratio between entrance fees and winnings would be the same.

the difference would come if you a) lose money or b) leave your money in the poker accounts.

i hope that makes sense - it may even be what you're already saying

[Osesame]

What I am saying is b) don't leave money in $ accounts.If the slide should continue then the value of your winings will drop.

[Osesame]

If i was to be my usual cynical self, i would assume that prizes are in american $'s to make the prize funds look bigger ($10k would be equivalent to around £6k for example)

£5162 at the moment

[PAULM03]

The dollar is screwed. Long term it's worthless - the fed has printed too much. Someone a bit more economically minded than me told me they thought it would end up like Weimar Germany. You'll need a barrowfull of cash to buy a loaf, although should you happen to leave your barrowfull of cash lying around, be careful someone doesn't steal the barrow. I don't know if it will be that bad but the next few years are certainly going to be interesting.
Is this going to make me withdraw my poker $? Naaah I'm far too lazy and I haven't got enough fr it to really matter.

[Osesame]

You need to read this,especially if you have large sums in $ accounts.

http://rense.com/general74/report.htm

[PAULM03]

Originally Posted by Osesame

You need to read this,especially if you have large sums in $ accounts.

http://rense.com/general74/report.htm

Look at the source. The Hal Turner show

When the Chinese to offload their dollars I don't think they'll let the markets know beforehand. Having said that, if I had any money I'd be buying gold right now.

[Osesame]

Ah!? this Hal turner

http://www.halturnershow.com/index.html

Things appear to be happening rather rapidy.Do you really think this is all without foundation

[PAULM03]

Originally Posted by Osesame

Ah!? this Hal turner

http://www.halturnershow.com/index.html

Things appear to be happening rather rapidy.Do you really think this is all without foundation

I don't think it's without foundation, there's certainly some noise coming from the fed over China in general: http://www.ft.com/cms/s/8ed90514-8c0...0779e2340.html

Whatever happens I think it will come to a head sooner rather than later. IMVHO we're buggered, especially if the Chinese do let the Yuan float freely as all those really cheap chinese goods we get will increase in price quite dramatically and then inflation will really be out of the bag.
It seems to me like someones suddenly realised that flogging of all your productive capacity to foreigners (sorry, outsourcing) is a bad idea after-all. This whole thing was driven by greedy banks after a quick buck, trouble is if they get bitten on the arse by their greed it's us who'll bear the brunt of it