Oh, that $inking feeling again

by **Kingcoal** » Tue 22 Feb 2005, 11:02:37

Dollar Declines as Bank of Korea Plans to Diversify Reserves

The dollar fell the most in more than four months against the yen and dropped versus the euro, Korean won and at least 30 other currencies after the Bank of Korea said it plans to diversify its reserves.

South Korea's central bank, which has a total of $200 billion in reserves, said in a Feb. 18 report to a parliamentary committee it will increase investments in assets denominated in currencies such as the Australian and Canadian dollars. The country's reserves are the world's fourth biggest, behind Japan, China and Taiwan, according to data compiled by Bloomberg.

Crude Oil Jumps to 4-Week High; Freeze Prevails in Europe, U.S.

And now for the bad news: Peak Oil is just around the corner!

by **Tyler_JC** » Tue 22 Feb 2005, 11:11:59

Sometimes I wish a comet the size of Maine would smash into the planet. It would cut down on the suspense. This waiting is killing me. I'm also spending WAY too much time on the internet... [smilie=user.gif]

by **stu** » Tue 22 Feb 2005, 11:50:05

Tyler_JC wrote: I'm also spending WAY too much time on the internet...

Ditto.

You have to admit though.

It does feel weird following all of this stuff while everyone else just carries on with life as normal.

I feel like a member of a herd of black sheep.

by **stu** » Tue 22 Feb 2005, 11:55:38

http://www.forbes.com/business/healthca ... 41088.html

by **eastbay** » Tue 22 Feb 2005, 12:34:50

It just hit $50.00 a few minutes ago... we'll look back at this price pretty soon.and refer to it as the day of cheap oil.

EastBay

by **frankthetank** » Tue 22 Feb 2005, 12:49:50

Anyone got a graph that shows the relationship between the movement of Euro/dollar and the price of oil...

is it a direct relationship?(i've got a bad headache and i can't think about it right now!)

by **Barbara** » Tue 22 Feb 2005, 13:23:56

This waiting is killing me. I'm also spending WAY too much time on the internet...

LOL Tyler!!! Same here!!!!
(And also, I hate myself sitting at the Internet and doing NOTHING to prepare!!! :lol:

)

by **ararboin** » Tue 22 Feb 2005, 13:27:22

The country's reserves are the world's fourth biggest, behind Japan, China and Taiwan, according to data compiled by Bloomberg.

I never would have thought Korea was that flush with cash, ahead of many other countries like India, etc. All four countries sell crap to the US, while we're literally shipping junk back to them so they can make more crap to ship back to us. But keep consuming, we've got to maintain this merry-go-round as long as possible.

by **shortonoil** » Tue 22 Feb 2005, 14:02:43

Why every American consumer doesn't realize that they are just a rat on a treadmill completely amazes me!

I quess it is called conditioning.

by **Kingcoal** » Tue 22 Feb 2005, 14:06:31

The markets are selling off. Maybe this is the big crash!

by **lotrfan55345** » Tue 22 Feb 2005, 17:43:13

Dont we have another thread on this?

by **Itch** » Tue 22 Feb 2005, 18:05:29

I'm not ready for this shit.

by **2007** » Wed 23 Feb 2005, 11:06:31

when the financial news says 'diversifying', does it mean, 'handy with some euros for that Riviera holiday'? Or 'In - hmmm, 'God' - we don't trust anymore'?

by **maverickdoc** » Wed 23 Feb 2005, 11:26:29

2007 wrote:when the financial news says 'diversifying', does it mean, 'handy with some euros for that Riviera holiday'? Or 'In - hmmm, 'God' - we don't trust anymore'?

it mean we already sold $$$ and now we are telling you. Also oil is just too expensive to buy in $ so we need other currencies

A weaker U.S. dollar generally triggers a rise in crude prices because oil is priced in that currency, making it relatively cheaper when bought in yen, won or other currencies.

"That currency shift could raise demand because it's actually cheaper" for countries like Japan to buy crude, said Victor Shum, an analyst in Singapore for energy market consultants Purvin & Gertz.

http://story.news.yahoo.com/news?tmpl=s ... oil_prices

by **Grimnir** » Wed 23 Feb 2005, 13:38:53

Kingcoal wrote:The markets are selling off. Maybe this is the big crash!

Losing 175 is not a crash; it's just a moderately bad day. If it keeps up for a week or two, it will be a crash. But it looks like things are already on their way back up again (for now).

by **pea-jay** » Fri 25 Feb 2005, 02:54:54

Looks like this was a false alarm or a trial ballon on part of the Koreans. In anycase, the markets are wary. A real sell of will be ugly. Real ugly.

by **Doly** » Fri 25 Feb 2005, 05:13:51

Not necessarily. The Koreans don't have to *sell* dollars. All they have to do is to *stop buying*.

by **tmazanec1** » Fri 25 Feb 2005, 12:51:49

Now Taiwan?!
http://www.washtimes.com/upi-breaking/2 ... -6410r.htm

Oh, that $inking feeling again

Oh, that $inking feeling again

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