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GV70 · Mar 8, 2008, 03:23 PM

03/08/2002 $1=1.1414135407 Euro
03/08/2008 $1= .64864 Euro
It's 176% devaluating for six years:confused: :confused: :confused:

N0help4u · Mar 8, 2008, 03:36 PM

and it is going to get worse.
Our government has devalued the dollar by being so in debt
and they are printing money 'over the amount' that we have had standard for how much money to print.
In other words like if the standard is to print xx billion of dollars per year,
and they now can not survive on xx amount of dollars they simply print out an excess
and that devalues our money.
Sort of like gold is valuable because it is more scarce than dirt.
Dirt is not so valuable since it can be found anywhere.

GV70 · Mar 9, 2008, 01:45 AM

Originally Posted by N0help4u

and it is going to get worse

N0help4u,don't you think it is N0help4us:D

N0help4u · Mar 9, 2008, 12:09 PM

I know it is like putting a Johnson & Johnson bandaid on a shattered leg!

excon · Mar 9, 2008, 01:34 PM

Originally Posted by GV70

03/08/2002 $1=1.1414135407 Euro
03/08/2008 $1= .64864 Euro
It's 176% devaluating for six years. What exactly happened?

Hello GV:

A tax cut happened at the same time we embarked on two costly wars. Then we borrowed to pay for 'em causing massive deficits. We had an oil crisis, but nobody did anything about it except to sell gas guzzlers. We had a mortgage industry that had no controls on it and it went bust taking a lot of homeowners and banks along with it. That caused the stock market to crash, so the Fed slashed interest rates. Nobody wants to hold dollars if the interest rate on 'em sucks, so there was a massive sale causing the dollar to plunge.

Hence; 176% depreciation rate over six years.

Gold and silver, along with oil and the other commodities appreciated proportionately to the drop in the dollar.

That's exactly what happened. Buy Gold.

excon

N0help4u · Mar 9, 2008, 01:43 PM

Ex is right.
With the homeowners thing the liberals cried discrimation so the mortgage industry was forced to give loans to people they knew couldn't afford it.

Buy Gold is right.
I heard a long time ago in the prophesies I heard in the 70's that by 2009-2010 the stock market was going to crash and it would be worse than the depression so have your savings converted to silver or gold before then.

GV70 · Mar 9, 2008, 11:55 PM

One point of view more-
$ lost his power in Europe.East Europe joined to the EU and $ stopped to be an international currency.Hundred billions $ became redundant.

excon · Mar 10, 2008, 08:44 AM

Hello again, GV:

It should be noted, that the lower dollar is not an accident. It's by design. The believers in this suicidal thinking, such as BOB MCTEER, the recently retired president of the Dallas Fed, believe that a lower dollar will increase our exports (our goods ARE cheaper by 167%), and that increase will prevent us from going into recession. He says, “I prefer a strong dollar for eternity, but right now I feel about the dollar what St. Augustine felt about chastity. To paraphrase his notorious prayer, "Lord, make our dollar strong, but not just yet."

And, these guys are running things... Buy more gold.

excon