Currencies are Collapsing Everywhere. - page 4.

BuNga_cute

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Quote from: kesmex on October 03, 2022, 04:22:51 AM

Quote from: Republikcoin.com on October 03, 2022, 01:29:22 AM

Quote from: Smitty Werben Man Jensen on October 02, 2022, 04:48:33 AM

It is a fact that the market is chaotic and for sure there are many reasons,
this condition is certainly not easy and surely we all hope this can end soon,
let's follow the progress and see what it will be like

What developments to follow if you yourself say the market is in chaos?
I'd like to know some of the reasons you might know about the cause of the market turmoil you're talking about. Try to express it here so that the discussion becomes more interesting because everyone at this time has a different view of market conditions and also the condition of the world economy.

Yes, I think we agree that the current global economic condition is not doing well.
besides that inflation also occurs everywhere and it indirectly has an impact on the crypto market,
negative news keeps the market going down

It's true that too much negative news has emerged this year, that's why the market is difficult to recover. Many investors panic and sell their assets
at low prices, which only makes their situation worse. We should be able to be wise and do not immediately panic seeing a bad market situation.
Moreover, the market crash is not the first time this has happened, so don't be pessimistic about what has happened this year. Because this
bad situation is only temporary, we have to believe the market will definitely recover, all we have to do is be patient with this situation.
We can take advantage of the ease of internet access to find side jobs so that our income increases. Then use the extra money we have to buy
some top coins for long-term investments. By doing that, I believe that our economy will slowly improve, although I admit that doing so will not be easy.

zasad@

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I found inflation statistics
https://twitter.com/stats_feed/status/1575875921231630336?

"Euro area inflation rates (%):

Estonia 🇪🇪 24.2
Lithuania 🇱🇹 22.5
Latvia 🇱🇻 22.4
Netherlands 🇳🇱 17.1
Slovakia 🇸🇰 13.6
Greece 🇬🇷 12.1
Belgium 🇧🇪 12
Austria 🇦🇹 11
Germany 🇩🇪 10.9
Slovenia 🇸🇮 10.6
Portugal 🇵🇹 9.8
.
.
Finland 🇫🇮 8.4
Malta 🇲🇹 7.3
France 🇫🇷 6.2"

There are big problems in the European Union, and if another country decides to do Brexit, then this system will quickly fall apart.

DrBeer

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Over the past 3 years, the world has received several severe stresses, which of course led to the stagnation of the economy and, as a result, the depreciation of local currencies.
- Covid-19. The strongest blow to local economies. The fall of industrial production, the shutdown of a huge number of enterprises, and the chain reaction of the stoppage of related businesses. Destruction of the economy and a huge burden on the social budget.
- A new round of terrorist war unleashed by Russia against Ukraine. Which led to a crisis in the market of wheat and other crops grown in Ukraine and Russia. This is without taking into account the hundreds of thousands of Ukrainian citizens killed by terrorist troops from Russia. Also destroyed a significant part of the industry of Ukraine. Also, the West is forced to provide Ukraine with huge financial and technical assistance. Forced - because they want Ukraine to stop Russian state terrorism on its territory. The EU does not want war, it is easier for them to "pay off" with money than to allow war into their countries.
- A new round of economic terrorism against the EU, unleashed by Russia. First of all, in the energy market.

Swordsoffreedom

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Quote from: uneng on October 01, 2022, 11:28:26 AM

Central banks can do anything they want, but nothing is going change the fact fiat currencies will colapse at some point, because their system has been unsustainable since the beginning.

CBDCs can be introduced, but they mean nothing different from fiat. In fact it is just a digital crypto version of fiat currencies which will remain centralized and devalued by inflation. I believe the reason central banks are going for CBDC is because it will be easier to track and control citizens' funds. It's an efficient tool against money evasion.

If I remember correctly, fiat money has been around for a long time, China has established a fiat money system since the 13th century. While Europe used fiat from the 17th century but then also met some failures, it was not until the 20th century that the United States used fiat again and over the years fiat was also widely used in the world. It can be said that the fiat empire may collapse in the future but instead will be another currency created and controlled by the government, they are not so different in nature. So I don't think fiat will collapse but evolve, upgrade to something better but the essence remains the same. Maybe as you say CBDC will be the next version of currency but they are no different from fiat currencies today.

kesmex

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Quote from: Republikcoin.com on October 03, 2022, 01:29:22 AM

Quote from: Smitty Werben Man Jensen on October 02, 2022, 04:48:33 AM

It is a fact that the market is chaotic and for sure there are many reasons,
this condition is certainly not easy and surely we all hope this can end soon,
let's follow the progress and see what it will be like

What developments to follow if you yourself say the market is in chaos?
I'd like to know some of the reasons you might know about the cause of the market turmoil you're talking about. Try to express it here so that the discussion becomes more interesting because everyone at this time has a different view of market conditions and also the condition of the world economy.

Yes, I think we agree that the current global economic condition is not doing well.
besides that inflation also occurs everywhere and it indirectly has an impact on the crypto market,
negative news keeps the market going down

livingfree

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Quote from: Vaskiy on October 02, 2022, 05:54:40 PM

Countries are pushing to develop their own CBDC, taking into account the best way to have control over the people's money. Very few countries are in the exception list, while majority of the countries face the currency value collapse. In most of the countries election time controversy is going to be the collapsing currency value.

Even if they push to have their own CBDCs, nothing that much change as the only change that can be seen with that develop is they've migrated some of their fiat's supply into the internet and made it digitally.

Quote from: Vaskiy on October 02, 2022, 05:54:40 PM

In my country a major variation is experienced against dollar and hope this will be a big problem for the ruling government in the upcoming election.

It's happening to most countries because we're all suffering with the fed's increased rate and we'll how the world will react again as they've called for an emergency meeting today.

Republikcoin.com

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Quote from: Smitty Werben Man Jensen on October 02, 2022, 04:48:33 AM

It is a fact that the market is chaotic and for sure there are many reasons,
this condition is certainly not easy and surely we all hope this can end soon,
let's follow the progress and see what it will be like

What developments to follow if you yourself say the market is in chaos?
I'd like to know some of the reasons you might know about the cause of the market turmoil you're talking about. Try to express it here so that the discussion becomes more interesting because everyone at this time has a different view of market conditions and also the condition of the world economy.

Vaskiy

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Countries are pushing to develop their own CBDC, taking into account the best way to have control over the people's money. Very few countries are in the exception list, while majority of the countries face the currency value collapse. In most of the countries election time controversy is going to be the collapsing currency value. In my country a major variation is experienced against dollar and hope this will be a big problem for the ruling government in the upcoming election.

jossiel

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Well, it has something to do with the reset and it happens and we've been so long not experiencing it so the FED has the first move of it. I thought that it'll start exactly during the pandemic but it has took 2 years before they initiated it.

Thinking on how it is easy for the FED to control the entire market and economy of the world by just increasing the rates. Despite them have printed a lot of money still, it's like they're having the control of it.

It's like majority of the countries are being sanctioned by them.

Fortify

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Quote from: Editbar on October 01, 2022, 10:40:39 AM

The Dollar Index hit 114.5 so that's the day which the basket of currencies that the dollar is weighted against and that is incredibly high so also the dollar is downtrend the RSI broke its downtrend which is pretty bad news for the rest of the global currencies like the pound did you see what the pound did so the pound fell to a record low of 1.03 and the dollar so I'm going to go over the British pound against the US the dollar quick brings you back to the 1800s during the

In the 1800s there it was five dollars to one

British pound the Napoleonic Wars 3.62 now going all the way to World War Two it was 3.25 dollars to the Great British pound now you had the great financial crisis

that was 1.35 Brexit which was 1.2 and
then right now you have 1.03 Ben Richards you've probably seen him on.

know they can decrease the value of it

easily and there's no

transparency whatsoever they are

frothing for a CBD right now.

It's a blend of the US economy doing extremely well, along with quantitative tightening (aka not printing money at the vast scales we saw through Covid and before). The US has relative energy independence as well when you compare it to Europe, while they also produce a lot of high end products which are sold elsewhere. It's actually rather damaging to America in the long run to have a surging dollar because it makes their exports less attractive to overseas buyers in future. We're seeing the UK government destroy their economy through incompetent policy rollouts, while Europe is struggling in the midst of the energy crisis and war on it's borderline region.

palle11

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Quote from: ?? on ??

Printing a lot of money makes people to realize the real value of a fiat money and that’s why many countries already on a trial phase with regards to their digital money with a hope that this can help solve the problem they are experiencing right now. Many countries already turned down USD as they reserve, and soon many will do this as well. CBDC is a good option for the government to stay control, because if they lose control over their people, they will collapse badly.

Strengthening of individual currency is not going to be from cbdc. The government of different countries that are introducing that are doing so to try and hold to their currency, to try to regulate it and monitoring but they are failing in the total aim of preserving the value of the currency when they still allow the dollar in flow of the currency for use in the country. The dollar is now determining the value of the local currency, this is the problem for some of those countries but their government not recognizing that. However, I have read some countries have strict rule against the use of dollar or exchange of it or where it will be seen except when necessary. In such countries, the use of dollar is strictly for international purposes and not to be found with individuals in homes or government officials.

davis196

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Many economists think that having a strong currency is a bad thing.
Weak and devalued currencies make the exported goods and services cheaper and the imported goods more expensive.
Having a devalued currency can help for achieving an active trade balance of a country(according to some economists).
I don't agree with this theory. The US dollar is getting weaker, but the trade balance of the USA is still negative.
Maybe this is due to the US dollar being a more of global currency, rather than a national currency.
There are many factors, that determine the value of the fiat currencies. We can't explain the movements on the fiat currency markets with the interest rate hikes only.
Fiat money might be losing their value everywhere, but it seems that crypto isn't gaining any value anywhere. Sad

Smitty Werben Man Jensen

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Quote from: ?? on ??

Dollar is making the markets go wierd. Euro fell to the level of dollar, yen fell. So did other major currencies. The reason is simple rise of interest rates by federal banks. Hope it will end soon...

It is a fact that the market is chaotic and for sure there are many reasons,
this condition is certainly not easy and surely we all hope this can end soon,
let's follow the progress and see what it will be like

bittraffic

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Quote from: Editbar on October 01, 2022, 10:40:39 AM

they are frothing for a CBD right now.

Sounds like a plan. But What we need by now to establish trust is a currency that is backed by Gold. If its just CBDC, it will not be a good thing still. I doubt people will be going for it.

While on the other side Russia and China are planning to have thier own system similar to Bretton Woods Agreement which they also have BRICS bank and probably something like IMF as well.

theskillzdatklls

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Quote from: Gyfts on October 02, 2022, 02:00:06 AM

Quote from: theskillzdatklls on October 01, 2022, 04:50:53 PM

But because of so much QT, there's not enough money to flow into crypto. Even if there were, it probably wouldn't. Because crypto isn't a true safe haven because there's not much that people can do with it still, yet.

The federal reserve was trying to play a balancing game with inflation and their hope was to not slam the breaks in hopes of avoiding a recession -- call it a soft landing if you will. Seeing as the USD inflation rate is still out of control regardless of the interest rates, fed will avoid the soft landing and accept that recession is unavoidable. To your point on money flowing to crypto, I think if the U.S. economy is thriving, then the crypto industry compartmentalized within is thriving. Obviously the U.S. economy is in ditch, and so is Bitcoin's current price.

I'm patiently waiting the Q3 GDP reports, I'm predicting a bloodbath.

I think preliminary data is already in, and Q3 is soft confirmed to be another negative quarter making 3 in a row now.

Of course, due to partisan reasons, strong arming the NBER, the midterms, this data will be slow to release to the public.

hugeblack

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Have you measured that currencies are collapsing based on what happened to the pound sterling, which did not fall much if compared to the currencies of many countries.
The policies followed by Britain at the present time seem chaotic, so the results directly affect the price, but this does not mean that this will continue for a long time.
As for what will happen in the rest of the currencies, the reason is most likely to be the monetary tightening policy followed by the United States, but within a year or two things will return to normal.

Gyfts

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Quote from: theskillzdatklls on October 01, 2022, 04:50:53 PM

But because of so much QT, there's not enough money to flow into crypto. Even if there were, it probably wouldn't. Because crypto isn't a true safe haven because there's not much that people can do with it still, yet.

The federal reserve was trying to play a balancing game with inflation and their hope was to not slam the breaks in hopes of avoiding a recession -- call it a soft landing if you will. Seeing as the USD inflation rate is still out of control regardless of the interest rates, fed will avoid the soft landing and accept that recession is unavoidable. To your point on money flowing to crypto, I think if the U.S. economy is thriving, then the crypto industry compartmentalized within is thriving. Obviously the U.S. economy is in ditch, and so is Bitcoin's current price.

I'm patiently waiting the Q3 GDP reports, I'm predicting a bloodbath.

pooya87

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It is not "everywhere" it is mainly in US and Europe that the currencies are dumping hard. In other places things are normal meaning they have the same inflation they had before without it changing or some currencies actually went up. Russian Ruble is a good example that has been soaring and last I checked it had reached a 5 year high.

As for CBDC, I don't see how that's any different though. Their price is the same as the local fiat the country has not something different. Not to mention that if the banks aren't observed well enough, they could actually be increasing the liquidity (print more money than they should) and cause more inflation so these currencies dump even more.

adaseb

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Yes and this is a big problem. People are expecting the fed to stop rising rates because they are seeing cracks forming. And they are expecting the fed to slightly lower interest rates also. However this is not good if inflation prints are still high. Here in Canada we are getting expensive gas prices again even crude oil is down.

Housing is a problem because rents are high. Way too many new landlords out there who are renting out or AirBNB and this is what is causing this housing shortage and increased rents. And there is food prices. You got no choice but to buy food so this affects everyone. Not looking good honestly.

YUriy1991

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I think it's also important to remember that all of this happens due to a variety of factors, most of which are beyond our control. In other words, if history has shown us anything, it is that the global economy is cyclical and far more complex than many people think.

This event will happen at some point in the near future, and it will lead to a financial crisis that changes the world and The next few years are likely to be very volatile, and it will be more important than ever for people to plan for the worst.

I think the key to dealing with a volatile market is to be prepared for what might happen next and knowing how your assets will handle it.

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