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-- The Canadian dollar >= The American Peso

The Canadian dollar >= The American Peso

So...are you guys ready for lots of Canadians to come flocking to your Targets and such?

if it weren't for us buying alaska, russia would have invaded you already

quote:

Originally posted by Marc Summers if it weren't for us buying alaska, russia would have invaded you already

That's a weak comeback .

quote:

Originally posted by venomX That's a weak comeback .

Probably true though.

The aussie dollar's nudging 90c US as well. Good time to go an an Amazon spending spree I think.

Thanks George!

I'm not sure if occ will be around to read this, but I remember previously he was worried that under some leaders (such as Paul) there would be a return to the valuing of the dollar based on the gold standard. I wonder if he still thinks this is a poor idea based on the recent and continued fall of the dollar? I've heard some people (borderline conspiracy theorists) state that the horrific devaluing of the dollar is an intentional action. Anyone heard anymore on that matter?

I think most people against going to a gold standard usually have a personal stake in the issue. Either their careers are based on the fiat money system we have now, or their political beliefs (welfare statism) require an continuously expanding money supply with no natural restraint on government spending.

Paul has stated several times that he would not return the country to the gold standard, but that it would be a long-term goal. He would only make gold more competitive.

quote:

Originally posted by Capitalizt I think most people against going to a gold standard usually have a personal stake in the issue. Either their careers are based on the fiat money system we have now, or their political beliefs (welfare statism) require an continuously expanding money supply with no natural restraint on government spending.

Pardon my ignorance, but what's the difference?

quote:

Originally posted by Fir3start3r Pardon my ignorance, but what's the difference?

Our currency today is literally backed by but debt...and the promise of our government to someday repay that debt..

Under a gold standard, every dollar would be backed by physical gold...and if every dollar was accounted for and fixed to the price of gold (1/734 oz currently), government would lose it's ability to print money at will. Today, when congress can't collect enough taxes to fund it's programs, they simply borrow the money (from themselves), print up a little more paper, and buy what they need with that new "money". This dilutes the value of the currency in existence and causes inflation. The gold standard will prevent this type of behavior...forcing politicians to either raise taxes to pay for their extravagant spending (and get voted out of office), or to live within their means and maybe cut this $3 trillion monster in Washington down to a more reasonable size.

i read something like this in the back of the bible

laugh all you like firestarter, but i don't want to hear your crying when all the people from Jersey stop going to your clubs and making them cool and stuff

quote:

Originally posted by Capitalizt Our currency today is literally backed by but debt...and the promise of our government to someday repay that debt.. Under a gold standard, every dollar would be backed by physical gold...and if every dollar was accounted for and fixed to the price of gold (1/734 oz currently), government would lose it's ability to print money at will. Today, when congress can't collect enough taxes to fund it's programs, they simply borrow the money (from themselves), print up a little more paper, and buy what they need with that new "money". This dilutes the value of the currency in existence and causes inflation. The gold standard will prevent this type of behavior...forcing politicians to either raise taxes to pay for their extravagant spending (and get voted out of office), or to live within their means and maybe cut this $3 trillion monster in Washington down to a more reasonable size.

Ah, makes sense.
Thanks Cap

quick question for you money folk..

how much can the spike in oil prices be attributed to the decline of the dollar? i heard some crap about refineries in Texas, but that just doesn't make the sell.

I think what scares me the most about the rapid devaluing of the dollar is the lack of public outcry as well as any tangible plans to stop the skid. We hear daily of how the dollar has reached new lows against various other currencies, even thoughts of US institutions thinking of using the Euro as their main currency. However, what we don't hear is how the "Fed" is trying to stop the skid or Americans becoming upset over the loss of buying power in the dollar. I'm not sure how bad things have to get before we start to hear these things, but when we're at 30+ year lows with no sign of slowing the descent of the dollar in site, I wonder how much worse it has to get.

quote:

Originally posted by NeoPhono lack of public outcry

People have more important things to worry about like iPhones, football, etc etc.

quote:

Originally posted by infinity HiGH People have more important things to worry about like iPhones, football, etc etc.

That probably has more validity than it should.
And sadly, most likely true...

quote:

Originally posted by ResonantDrag quick question for you money folk.. how much can the spike in oil prices be attributed to the decline of the dollar? i heard some crap about refineries in Texas, but that just doesn't make the sell.

I think it's the other way around.

The dollar is dropping so oil apears to be rising.

To confirm, see if oil has risen in terms of the Euro or the Yen.

quote:

Originally posted by NeoPhono I think what scares me the most about the rapid devaluing of the dollar is the lack of public outcry as well as any tangible plans to stop the skid. We hear daily of how the dollar has reached new lows against various other currencies, even thoughts of US institutions thinking of using the Euro as their main currency. However, what we don't hear is how the "Fed" is trying to stop the skid or Americans becoming upset over the loss of buying power in the dollar. I'm not sure how bad things have to get before we start to hear these things, but when we're at 30+ year lows with no sign of slowing the descent of the dollar in site, I wonder how much worse it has to get.

What's got to happen is that people start getting hit in thier wallet. Initially the public is just plain going to be confused about why they are always going into debt just living the same life they have been for years. Then they are going to start cutting back on spending but they will still be going into debt. That's when people are going to start getting angry.

I just did an experiment in adjusting living standards and it's not easy. Each year for the past two years my income has been cut in half and I got to experience what it's like to have to change spending habbits.

The first difficulty I had was with big ticket items. Not being able to buy furniture when I needed it was a bit of a shock, or having to realize that I couldn't afford new things but had to search for used items.

The next difficulty was constraining smaller purchases such as clothing, CD's, and Books. In my past position I didn't even have to consider buying any of these things on a whim, but on a constrained income each of these less nesscary things becomes treacerous.

Then there is food expenditures, less money means less eating out.

And housing is a big one. Settling for cheaper places is difficult. I'm betting that this will be a big problem in the US cities as forigners live in the best parts of town and locals must settle for second rate housing.

people aren't worrying about inflation because it has yet to manifest itself in an increase of daily living expenses probably because china is subsidizing our buying spree

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