I was just thinkin' about taking a couple hundred Canadian dollars and buying a car or boat...or maybe a house.
just kidding... RSD.
just kidding... RSD.
Just realized the US dollar is...
- Thread starter rubbersidedown
- Start date
I've got a bridge, just send me a couple hundred canadian
No good, I sold VaBusa Bridge in the Tampa area about 2 years ago, I think folks here have been wary of Bridge purchases since.I've got a bridge, just send me a couple hundred canadian
You can thank Greedy Corporate America for this plight...........
The working man/women just keep paying!
The working man/women just keep paying!
Don't worry too much yet guys. The ribbing I took from my US friends when our Canadian dollar was worth 60 cents American. Ya,a forty percent exchange rate.
The rate right now is 98.7 so don't panic yet.
RSD.
RSD.
It will hurt our tourism BIGTIME.No worries Bro, about 3 years ago I exchanged about $5k US to Canadian...I'm making money!!!
No more "Canadian Discount" though which is a bummer. Means when they say a room is $300 a night they mean $300...
Oh man, eh? We can't rib aboot that now, eh? What else are we gonna make fun of you aboot now, eh?Don't worry too much yet guys. The ribbing I took from my US friends when our Canadian dollar was worth 60 cents American. Ya,a forty percent exchange rate.The rate right now is 98.7 so don't panic yet.
RSD.
Lets not forget who allowed it to happen!
An oil barron? With Exxon having incredibly profitable years (Not the stations themselves, but those with there hands selling the oil barrels), I don't know WHO would have allowed this... I mean, not like there's someone who's friends and family, and themselves, would profit from this in office or something... That would just be STUPID!Lets not forget who allowed it to happen!
CrashBomb
Registered
The true socio-economic reasons for the current decline in the international value of the U.S. dollar go MUCH deeper than anything the current administration can lay claim to, regardless of their criminal incompetence and culpability in any of a number of other political and economic arenas.An oil barron? With Exxon having incredibly profitable years (Not the stations themselves, but those with there hands selling the oil barrels), I don't know WHO would have allowed this... I mean, not like there's someone who's friends and family, and themselves, would profit from this in office or something... That would just be STUPID!Lets not forget who allowed it to happen!
The seeds of destruction were planted decades ago with the movement away from a "precious metals" standards based currency, the failure of the Bretton Woods economic system, and the United States' suspension of the convertibility from dollars to gold in 1971.
Prior to the adoption of a fiat currency, our standards based economy was all but immune to artificial inflation. But the runaway deficit spending used to fund the growing conflict in South East Asia caused the U.S. to build up a trade deficit for the first time in the twentieth century, and in 1970 the U.S. ability to cover our own gold standard fell by over 25%. Most economists believed that this was due to the owners of U.S. dollars losing confidence that the United States would ever be able to recover from the debt they had so quickly incurred. Neoclassical experts in the economic field actually refer to this period as "Nixon shock."
Because of the hitherto unheard of rate of U.S. dollars flowing overseas to support government expenditure on the war, the Federal Reserve Board quickly and quietly dissolved the link between U.S. gold reserves and the U.S. dollar. Once the dollar was no longer backed by a gold standard the FED practically declared open season on inflation.
The problem was further compounded by the adoption and implementation of "supply-side" (otherwise known in political rhetoric as "trickle down") economic policy by the Regan administration in the 80s. This shift away from a Keynesian economic model in favor of a Mundell-Fleming style model, (that has often been called the "Impossible Trinity" by economists because of the futile effort to create a fixed exchange rate, an independent "laissez-faire" monetary policy, and unrestricted movement of capital) is responsible for a large part of the dollar's recent devaluation. It's been proven time and time again that these three conditions can not coexist for any significant amount of time and the best that most countries can hope for is two pick two out of three. In short, you can try your damnedest to take all of the pros and none of the cons from both supply-side economics and demand-side economics, but there will invariably come a time where you must choose one or the other.
There has been a lot of talk in recent years about the "lowering or fixing" of interest rates by the FED, but what is rarely discussed is HOW these pegged interest rates are achieved. Because of our current fiat currency system, the FED is able to print and disseminate into circulation as much paper currency as they feel the market will bear. Artificially inflating the dollar by printing more dollars not backed by a precious metals standard is the current fiscal policy, and when Ben Bernanke tells you on CNN that he's going to "fix interest rates at X.X%," he's actually telling you, "we're going to print more dollar bills and circulate them in order for you to be able to afford the higher interest rates, therefore the PERCEIVED interest rates will be lower or at the very least will stop climbing." It's genuinely laughable that the government sends counterfeiters to prison for doing the exact same thing that the Federal Reserve Banks have been doing since the 70s, that is, printing worthless money with no financial backing.
The intrinsic value of paper money is so near to zero that it's all but immeasurable, and has been so since the FED virtually hijacked and held hostage the people's gold supply in Fort Knox and various other gold vaults across the country. That gold and the intrinsic value of that precious metal used to belong to YOU, to me, to every citizen in this country, and for a long time you could actually walk into a federal bank and exchange your paper money for the equal value of gold or silver that the paper money's value was based on.
All these factors, along with another glut of runaway wartime spending; new trade deficits, particularly with China; a fiscal tax policy that favors supply-side economic theory; and the entrenched administration's almost fanatical devotion to the failed Mundell-Fleming economic model have combined to create a kind of "perfect storm" of economic crisis for the U.S. dollar both at home and on the international exchange market. The dollar is currently losing ground against everything from the Peso to the Pound, and it will get much MUCH worse before it gets any better. The American century is over and we're going to have to get used to that fact if we have any chance of surviving in the long term global market.
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This has become long and complicated, and I doubt anyone is still reading at this point because this is the kind of thing that puts most people to sleep, but for anyone who has managed to muddle through I'd just like to quantify the fact that this is by NO MEANS a defense of the current administration and their impeachable policies or gross failures on an epic scale. I don't mean to imply that the current administration is totally blameless in the devaluation of the dollar. They certainty haven't made things any better, and it's a pretty fair bet that time will show they've actually compounded the problem. But economic theory is an infinitely complex and chaotic system that even "experts" in the field often have to admit is nearly beyond human understanding. This problem is too complicated and responds to far too many variables to simply lay it at the feet of whatever administration currently holds power.
+1 on getting off the gold standard causing much of it.
ron paul!
p.s. invest in gold .
ron paul!
p.s. invest in gold .
Yeah what he said. We're just doing some redistribution of wealth while the US brings other economies up to our economic standards so that the corporate world can grow ever more. Of course this on the backs of American citizens. I bet there are some great paying jobs in Dubai or Riyadh!
Regarding the bridges, those folks are more than willing to pay full price.
Regarding the bridges, those folks are more than willing to pay full price.
More like bringing the american consumer standards down to third world standards. The rich keep getting richer while the poor are growing in numbers everyday.Yeah what he said. We're just doing some redistribution of wealth while the US brings other economies up to our economic standards so that the corporate world can grow ever more. Of course this on the backs of American citizens. I bet there are some great paying jobs in Dubai or Riyadh!
Regarding the bridges, those folks are more than willing to pay full price.
The red coatw are coming!
You're right about the dumbing down of our standard of living! It's been fuel to keep the class warfare going on and keep us all divided.More like bringing the american consumer standards down to third world standards. The rich keep getting richer while the poor are growing in numbers everyday.Yeah what he said. We're just doing some redistribution of wealth while the US brings other economies up to our economic standards so that the corporate world can grow ever more. Of course this on the backs of American citizens. I bet there are some great paying jobs in Dubai or Riyadh!
Regarding the bridges, those folks are more than willing to pay full price.
The red coatw are coming!
We're all doomed until we realize this doesn't have to be two party system!
darth frosty
Registered
CrashBomb
Registered
As more and more investors move their assets away from U.S. dollars the strength of the dollar will continue to fall. As I said it will get MUCH worse before it gets any better, if it ever gets better at all, which is debatable at this point.
YOU DID !Lets not forget who allowed it to happen!
CrashBomb
Registered
"In a nation run by swine, all pigs are upward-mobile and the rest of us are f*cked until we can put our acts together: Not necessarily to Win, but mainly to keep from Losing Completely."
-Hunter Stockton Thompson
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