Posted on 02/11/2005 6:49:34 AM PST by FreeMarket1
Just wait until civil war breaks out in Europe...or the car bombings began...
The dollar is great! I'll be glad to take any you feel aren't any good.
I would bet the dollar long term against the Euro anyday. Europe's aging population, high unemployment, low growth, big government is gonna takes it toll on the Euro.
Europe and China are going into the tank. There was a story about Chinese people losing their money daytrading and many are just getting it out before the yuan falls.
The Fed can't keep printing dollars and increasing the money supply by over 10% per year and not expect the dollar to fall in the long run.
Personally, I luv 'em. Any and all who are disenchanted with their own is welcome to send some my way.
And the Fed grows money on trees.
BUMP
They both are in need of "roof repair". ;)
"just getting it out before the yuan falls."
What? Yeah, bet on that one.
Forgive my simplicity, but doesn't hte falling dollar make our goods more affordable to the rest of the world?
Absolutely right on. In the last 30 years we've gone from having asset money to liability money.
My money changer is always happy to see me when I remind him I'm "Working for the Yankee Dollar"
Bonus points if you can tell me the group without googling!
The money supply does not increase 10% a year. Closer to 5%. If you like Euros so much, by all means invest in them. I happen to have much more confidence in the health of our economy then theirs. But if you perfer to bet on left-wing socialism, more power to you.
It is a crisis when the dollar falls, it is a crisis when the dollar rises. We are always in crisis until everything stops changing.
As good as it gets.
Not really. You could not turn in your money for gold. There was not a 1 for 1 backing, it was all based on margins. The biggest impact of making it appear our money was backed by gold was to make people feel better.
agreed. 4.5 times more money than 1980. Anyone think our economy is 4.5x bigger. NO! Thanks Alan.
There is a difference between fractional reserve banking and full reserve banking. The latter is historically very rare. But simply because the dollar was a fractional reserve currency doesn't imply it wasn't backed by gold. It was, until FDR uncoupled it. Now it is backed by nothing. That's a change.
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