...et senza vino :)
Posted on 06/03/2005 12:41:25 AM PDT by M. Espinola
Lets see, how much did Buffett lose this week, 1 billion, 2 billion, 5 billion. Sure glad he isn't advising Kalifornia anymore.
Whazzamatter with shifting to the dollar?
No--I'll take your moniker "for what it is worth:"chronic loser :(
As you are a FERVENT Christian--you know God is a winner--therefore you KNOW God died to make you a winner like Him, right!
It's good to keep in mind, though, exactly what God's definitions of "winner" and "loser" are...
God didn't die to help you make money. God died so you didn't get what you deserved. An astute understanding of money is held by many who reject Christ and mishandling of wealth has happened to many men who will reside in Heaven.
The "profess it and possess it" mentality rejects the sovereign nature of God. Look at Job. Even though he was a man of wealth and faith, he lost it all. It wasn't because of a lack of faith or understanding, it was because God is not controlled by our will but by his will alone.
You had a good run. Praise God for it. But don't believe that your faith mandated that it happened. God does not have to do what you want. He isn't a puppet to be controlled if you have enough faith.
"It's good to keep in mind, though, exactly what God's definitions of "winner" and "loser" are..."
Remember Jesus pretty much hung out with the poor and social misfits. His only concern was treasure in Heaven. BTW, anyone found a market for trading "treasures in Heaven"? How about futures? Just Kidding!!!
However, when trading currencies, its probably a good idea to pray. It's one thing to take the shirt off your back and give it to the poor - it's another thing to just lose it.
I second that.
I think it's good to pray for everything. Heck, I pray for parking spaces, so I'm no one to talk. The problem with praying for riches is the trap of thinking it's because of your sin when the riches don't come (or because of your righteousness when they do.
Ask God for all things, but always asking that His will, and not yours, be done. And (this is harder) be as happy and trusting in His will when you differ as when you agree.
From the [current] level of almost 123ish, reviewing the first chart in this thread, the current political dilemma for the Euro currency is the worst it's ever been, since it first began trading as a Euro/Dollar contract in September of 1998.
You are correct there will be resistance at key levels. Being that this is a very different situation then any of the previous rises and falls of the Euro, the typical levels of resistance may not fully be applicable. For instance if another major E.U. related national player takes a step harmful to the E.U. the Euro should drop possible passing traditional lines of market resistance.
As a result of the Euro already being in a solid downward mode since the March, all the latest adverse developments are doing is reconfirming the overall direction of the currency market. I do agree & also recall there were levels back in 2003 which were tough for the Euro to break through and maintain its bullishness.
It is going to a wild ride, not only for the Euro but numerous national currencies, which are, and will, be effected in both directions, over the coming months.
...et senza vino :)
Well, there are states and regions of the U.S. that span an economic divide as large as that between Germany and Portugal.
It was the prettiest currency ever.
I've got a few thousand pesetas in loose change, maybe they'll be worth something again.
>The Guardian has an interesting page on defunct European currencies here. I'll bet people hung on to a few million lira (and drachma, and markka, jne.)
I had read that the Irish withheld somewhere around 650 million of their punts after the government made the boneheaded mistake to switch to the Euro. The Irish government declared them to be worthless after the exchange grace period. At least that was my father's excuse for doing the same.
I'll bet those Irish who ratholed their old currency will be glad they did when the Euro goes down in a flaming death. Be that as it may, the Irish here in USofA are known for stockpiling cash, wary of banks. My father and I found $93,000 cash in an estate of never-married Irish siblings, accumulated from the 1920's until the last one died in 1989. They were probably affraid they'd run out of beer money, or something.
Italy = lira
Spain = peseta
And a couple thousand pesetas = maybe 20 dollars.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.