Rescue our currency?
Thread started by
0gravity at 05.23.08 - 1:18 pm
How can we rescue our currency? (and do we want to?)
First up, I'm not an economist but I'm definitely paying attention and pretty worried about all the signs our economy and our standard of living are going downhill.
Our falling currency seems to be central to it. Especially when it comes to gas prices, a big reason for the huge run-up is that oil is traded in dollars so to compensate for a falling dollar, the industry and oil producing nations are charging a lot more per barrel. Then high energy prices make fertilizer, packaging and transportation for the food sector more expensive, leading to higher prices at the grocery store.
That's just one example among many others where a falling dollar is putting a major squeeze on this economy---but it's a big one. So logic might say that if we could only reverse the devaluation trend of our dollar, we could slow down the broad price spikes. But how does that happen? How do you rescue the dollar?
And lastly, do we want to? Some are arguing that our fallen dollar is helping American companies export products. Apparently we still make a few things here.
Like I said, I'm no economist, but I would be curious to hear what you all think of this topic and if you know how the US goes about rescuing the dollar.
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well if we still backed our money with gold our currency would be worth quite a bit. but considering we owe trillions of dollars to all the other major players they will make sure we stick around for a while.
low exchange rates is how china has grown into such a profitable country. by keeping their international exchange rate low so no one could compete with them on the costs of manufacturing goods.
exchange rates appear to be nothing more than a scam, and the euro being so high is having negative effects on several of the eu countries.
also the wealthiest most profitable company to ever exist in the history of capitalism is exxon and the exchange rate is definitely helping them right now. seeing oil jump 30 dollars a barrel in few weeks when there is a major surplus of oil lets us know that some interesting tactics are going on. so oil is over 130 a barrel about ten years ago it was 30 dollars a barrel. hmm how much oil is in IRAQ? hmm well enough to pay for about 70 iraq wars. so it looks like one iraq war is a pretty good investment.
also the grain in the u.s. is controlled by only 3-4 companies and their profits have magically doubled in the past year.
pacino05.23.08 - 1:32 pm
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We are printing more. That's why the value of the dollar is falling.
And we are printing more because we are spending more (see Iraq war) and receiving less (see cutting taxes).
marino05.23.08 - 1:33 pm
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"I have converted all my USD into Gyros."
LOL
I'll be doing that next week. Going to Greece.
marino05.23.08 - 1:56 pm
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It tastes better when you say YEE-ros.
turrican05.23.08 - 2:00 pm
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the problem is that the only place anyone gets most of their info is from the mainstream media and the news media is owned by the ruling class. trust me on this one, the ruling class does not want to see a change in the status quo.
Roadblock05.23.08 - 2:02 pm
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The ruling class will delete your threads. Trust me on this one.
Hahahaa, jk, where's that donate button?
SKIMDARCUS05.23.08 - 2:03 pm
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imagine the power of being able to delete a thread as big as the opposition to an unjust war.... Rupert Murdoch status!
Roadblock05.23.08 - 2:19 pm
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Ridazz Roulette!
