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Current event - watch the currency list

Discussion in 'News & Current Events' started by billwald, Jan 23, 2010.

  1. billwald

    billwald New Member

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    State of the US economy? The money traders know. The Canadian dollar - our biggest trading partner - gained over 5% this week on the US dollar. The pound and euro also gaining on the dollar.

    That is probably why the price of gas is rising.
     
  2. targus

    targus New Member

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    Do you have an opinion as to why this is happening?
     
  3. Salty

    Salty 20,000 Posts Club
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    Keep in mind that when pound, Euro, and Can $ increase in value, then products made in the USA are actually cheaper in those countries.
     
  4. NaasPreacher (C4K)

    NaasPreacher (C4K) Well-Known Member

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    I watch the euro closely - I use it. Actually the dollar saw a marked improvement this week to a five month high against the euro, though the euro recovered a little bit today.
     
  5. billwald

    billwald New Member

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    I THINK the dollar is losing international value because the government caused three trillion or more dollars to disappear.

    In the bad old days the government would devalue the dollar by raising the price of gold in dollars. They can't do this because the price of gold has been floating for the last 30 something years. The money traders automatically devalue the dollars, saving the government embarrassment.

    Some fanatics think we will relive the "bank holiday" of the 30's where the president announced that all banks would be shut down and re-opened a week later with the money devalued. I don't think this is necessary because of the floating price of gold. Our owners are not stupid! They will not incite a shooting revolution.

    I don't know how they will introduce the amero if this is the plan. In the US, the only thing that makes the dollar "official" is that taxes and govt fees must be paid in dollars. If Safeway decides to accept euros and pesos, the govt could not care less as long as Safeway pays taxes and wages in dollars.

    I suppose the govt would accept the amero at par with the dollar and then Gresham's Law takes over.
     
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