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DOLLAR SKY IS FALLING! DOLLAR SKY IS FALLING! EVERYONE PANIC!
10/25/2007 | Philistone

Posted on 10/25/2007 8:12:27 PM PDT by Philistone

To read the MSM headlines (which I try not to) the falling dollar is the end of the world. Maybe Wall Street should get a Noble Prize for their work in "Global Dollar Cooling". But seriously, what are the effects of a weak dollar?

1) Increased exports. Last month's exports were among the highest on record. Trade deficit? What trade deficit? Boeing, Caterpiller, Microsoft, Apple, etc. all with surges in foreign export sales.

2) Outsourcing? What outsourcing? All of the sudden it becomes cheaper to employ an American technician than one from Bangalore.

3) Cost of living? (I love this part!) Since China has pegged the Yuan to the Dollar, everything we get from China costs exactly the same! Maybe this will convince them to unlink the Yuan. Then we'll REALLY see who's the best producer.

4) Buhh... buhh... buhh... but foreigners will stop buying American Treasuries! What? In order to buy Russian ones? Chinese ones? Venezualian ones? Give me a break.

A weak Dollar equals: more exports, more jobs, more tourists (spending money) and the same or higher standard of living.

Bring it on!


TOPICS: Your Opinion/Questions
KEYWORDS: dollar
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To: stephenjohnbanker
If my nation will drop it’s standard of living in order that Bolivia’s Degrees of Freedom gets closer to ours, I’ll throw a flag up.”

So not only do you believe in the fallacy that "the private sector has hijacked our economy," you also believe economics is a zero-sum game.

301 posted on 10/26/2007 12:05:02 PM PDT by 1rudeboy
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To: crz
In 1913, a Senator, Nelson Aldrich, maternal grandfather to the Rockefellers, pushed the Federal Reserve Act through Congress just before Christmas when much of Congress was on vacation.

Congress left before voting on such an important piece of legislation? Would the Act have been voted down if everyone was there?

Later, Wilson remorsefully replied, referring to the FED, “I have unwittingly ruined my country”.

That old urban legend, LOL!

To this day. the Fed has yet to be auditted.

That's a lie.

302 posted on 10/26/2007 12:05:29 PM PDT by Toddsterpatriot (Ignorance of the laws of economics is no excuse.)
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To: crz
You failed to read the bit that the Stock is NOT public and since they have NEVER been auditted, we havent the foggiest idea who the hell the stock holders are or how much or where it goes.

But you posted a list of foreign stock holders.

How do you know they get billions? Maybe they get zero.

303 posted on 10/26/2007 12:07:20 PM PDT by Toddsterpatriot (Ignorance of the laws of economics is no excuse.)
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To: Toddsterpatriot

It is a lie? Want to prove to me that they have been auditted?


304 posted on 10/26/2007 12:07:24 PM PDT by crz
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To: LowCountryJoe

Dang, you got me. And I mispelled it again in the next post! Waste, waste, waste, waste ...


305 posted on 10/26/2007 12:07:52 PM PDT by Gen-X-Dad
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To: Gen-X-Dad; jedward

I hear rose colored glasses are getting more expensive : )

If I hadn’t spent so much time in Asia watching where our jobs are going to, I wouldn’t be nearly as aware of it.


306 posted on 10/26/2007 12:08:05 PM PDT by stephenjohnbanker (Pray for, and support our troops(heroes) !! And vote out the RINO's!!)
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To: Toddsterpatriot

Have that list of stockholders ever been auditted?


307 posted on 10/26/2007 12:08:30 PM PDT by crz
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To: Gen-X-Dad

That’s probably a fair assessment. Kind of funny too, cause I’d put this area up as likely my weakest area, but I’m always interested in a different view. Too many people try to change others minds. It’s better to let them realize it themselves. Sort of like the links I put up. If someone actually visits them, and reviews the material, I can’t see how they could support it.

I like how you handled him :)


308 posted on 10/26/2007 12:08:33 PM PDT by jedward
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To: stephenjohnbanker

Do you think gumballs are cheaper in Asia? Just curious.


309 posted on 10/26/2007 12:09:53 PM PDT by 1rudeboy
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To: crz

“and are now teaching propaganda.”

BINGO, we have a winner!!! I used to think a lot of this was not conservative, but just plain ole’ CFS. I found out I was in error. It’s not so common. The propaganda has and is continuing to be overwhelming!


310 posted on 10/26/2007 12:11:07 PM PDT by jedward
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To: crz
Want to prove to me that they have been auditted?

Okay.

Are the Federal Reserve System and Reserve Banks ever audited?

The Board of Governors, the Federal Reserve Banks, and the Federal Reserve System as a whole are all subject to several levels of audit and review. Under the Federal Banking Agency Audit Act (enacted in 1978 as Public Law 95-320), which authorizes the Comptroller General of the United States to audit the Federal Reserve System, the Government Accountability Office (GAO) has conducted numerous reviews of Federal Reserve activities. In addition, the Board's Office of Inspector General (OIG) audits and investigates Board programs and operations as well as those Board functions delegated to the Reserve Banks. Completed and active GAO reviews and completed OIG audits, reviews, and assessments are listed in the Board’s Annual Report (before 2002, the reviews were listed in the Board's Annual Report: Budget Review).

The Board's financial statements, and its compliance with laws and regulations affecting those statements, are audited annually by an outside auditor retained by the OIG. The financial statements of the Reserve Banks are also audited annually by an independent outside auditor. In addition, the Reserve Banks are subject to annual examination by the Board. The Board's financial statements and the combined financial statements for the Reserve Banks are published in the Board's Annual Report

Frequently Asked Questions

That was easy.

311 posted on 10/26/2007 12:11:12 PM PDT by Toddsterpatriot (Ignorance of the laws of economics is no excuse.)
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To: Toddsterpatriot

That list is a list of BANKS! Have those banks ever been held accountable? Have they been under audit? By the people of the USA?..most namely congress?


312 posted on 10/26/2007 12:11:21 PM PDT by crz
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To: stephenjohnbanker

“By the way, isn’t it about time for Vicente Fox to be on the show “America’s most Wanted” ??”

Envisioning Baghdad Bob...”There has been no meetings in Quebec, do not believe them. It is lies, all of them it’s lying. Like a snake lies on the ground”. LOL


313 posted on 10/26/2007 12:12:57 PM PDT by jedward
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To: Gen-X-Dad
Todd is nothing more than an intellectual bully,

Awww, did I hurt your little feelings by pointing out your error? Grow a pair.

314 posted on 10/26/2007 12:13:15 PM PDT by Toddsterpatriot (Ignorance of the laws of economics is no excuse.)
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To: jedward

I enjoy discussing economics, every system has its strengths and weaknesses. Every person has a right to their opinion, and a right to be equally respected while voicing their opinion. I have no patience for intellectual bullies who like to run roughshod over people to assuage their ego.


315 posted on 10/26/2007 12:13:42 PM PDT by Gen-X-Dad
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To: Toddsterpatriot

OK...now how many branches are there of the FED? 12, is the answer. They audit that 12 and thats it. THEY HAVE NEVER auditted who owns that twelve.


316 posted on 10/26/2007 12:13:49 PM PDT by crz
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To: jedward

You’re right about the propaganda being overwhelming. You’re just completely wrong where it originates. That’s how EPI becomes a source “worthy” of consideration, and Heritage a source that must be diminshed.


317 posted on 10/26/2007 12:15:19 PM PDT by 1rudeboy
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To: 1rudeboy; jedward

“So not only do you believe in the fallacy that “the private sector has hijacked our economy,”

I have already retracted that stupid post of mine. I was very tired, and wasn’t remotely communicating what I was thinking
about. If you want to rub my nose in it, feel free to do so. May you never post anything vague or stupid by accident.

And no, economics is not a zero sum game.


318 posted on 10/26/2007 12:15:51 PM PDT by stephenjohnbanker (Pray for, and support our troops(heroes) !! And vote out the RINO's!!)
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To: crz
THEY HAVE NEVER auditted who owns that twelve.

I own Bank of America stock. Bank of America gets audited. Why should I get audited?

You never told me how you know those foreign banks earn billions off the Fed.

319 posted on 10/26/2007 12:15:57 PM PDT by Toddsterpatriot (Ignorance of the laws of economics is no excuse.)
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To: Toddsterpatriot

You didn’t hurt my feelings (how could you since you are essentially just another anonymous person on just another forum) ... you only wasted my time (like you are doing now).


320 posted on 10/26/2007 12:16:27 PM PDT by Gen-X-Dad
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