www.CostaRicaTicas.com

If you think its easy to predict the direction foreign currencies are headed in you might want to try your hand trading on a practice demo acount on the foreign exchange market first, see:

http://www.fxcm.com/?CMP=SFS-70160000000D6TkAAK

You lost me here. I was in Buenos Aires in 2002 when the peso had just stabilized at 3 to 1, after being pegged 1 to 1 with the dollar before the crash. A four star hotel and a nice piece of ass could easily be found for 100 pesos each (the same price as before the crash). Therefore in US dollars I was paying $33 for what would have cost $100 prior to the devaluation.

I don't know what was going on in Argentina in 2005, but when I was there it was absolutely ridiculous how inexpensive EVERYTHING was when paying in US dollars.

Senordos,

I've done some forex trading, but you can't really make any money (unless you really know what you're doing) with dealing in third world currencies because of the aforementioned double conversion. Basically, your best bet there is sticking with the top currencies (EUR, YEN, AUD, GBP, USD).

I'm speaking specifically about trying to come out ahead in Colones after all is said and done. Just because the CRC is gaining on the dollar doesn't mean it's actually valuating against other currencies. I haven't yet looked to find out if that is the case, but I would suspect that the COL is devaluating against the EUR, even though it's gaining on the dollar.

"money as debt " (google it) or you could just buy loonies

I'm currently reading Alan Greenspan's book. The dollar will come back folks and it doesn't have to take a long time for it to happen.

It could happen overnight, literally over night. I'm not finished the book, but it is clear that the dollar will be strong once again, but of course, what brings that about is hard to say. It probably won't happen overnight, however. Whatever happens to bring this about, they let it happen, but they try to intervene as best they can so it isn't so shocking to the world markets.

The scary thing for many is that the world financial system is very fragile. What happens usually is that these corrupt governments soon or later mess up in a major way and since the world is so interconnected, it is a cascading effect, but the good news is that America weathers the turmoil far better than anywhere else. When one of these events happen, people around the world bring their money to America, because historically we are a safe haven and nothing major has happened to change our historical record.

I'm psyched. I just wish the dollar would advance sooner rather than later.

"Greenspan did not see the crash coming at all."

And you've read the book??????

Greenspan sees it all coming! If you read the book, you would not have made those comments.... none of them.

The devaluation of the dollar is why we really have to consider who we elect next year. The only candidate from either party who I really think understands what is happening and how dire our situation really is is Ron paul.

That article was written in Feb 2004. At that time, the house market was thriving.

When Greenspan said, "American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage,"

"greater" does not mean that he supported all of the products that ultimately came to the market.

"In 2004, I knew the best deal was still a fixed loan, why didn't he?"

Man oh man, adjustable rate mortgages have been around for a very very long time. Adjustable or fixed has absolutely nothing to do with the mortgage loan problem. Fixed or adjustable wasn't the issue.

The issue was lending to subprime borrowers!!! Keep the Jack out of your Kool Aid.

Fixed.... LMAO! Turn it on Pac

The ARMs were not the problem, lowering lending standards and letting consumers hang themselves was the issue.


BKTUNA
I am never going home

Repackaging won't work Pac. You still aren't right, but you can keep trying.



Bingo but that is half the story....

What caused the current credit crisis was that the subprime loans were packaged into securities.


**********BTW**********************
Greenspan actually defends subprime lending to this day (really). What he is against is packing those loans up into securities - this is what caused the current credit crisis.

Finally a voice of reason ARM's have been around forever without a problem. Then the started to attract sub prime borrowers with unrealistic offerings. Anyone remember:

125% of value

No credit check

No employment check

No green card (big in South Florida )

etc., etc. etc.

A lot of unscrupulous people made some big bucks and now a lot of unsophisticated people are having their dreams trampled.

So what else is new

_________________
Pura Vida
Only Irish coffee provides in a single glass all four
essential food groups:
alcohol, caffeine, sugar and fat.
Alex Levine