The buck starts here: As Henry Paulson gets ready to take the helm as US Treasury secretary, a single dollar is worth about 116 Japanese yen, 8 Chinese yuan, and 0.79 European euros. Amid predictions that its value could decline by 25 percent or more, where the US currency goes from here will be a major concern of his tenure.
Originally posted by zren
I read multiple articles about Russia going to sell its oil, gas and petrolium products
in their own currency the Rouble. When this happens it will severely injure the Dollar they say o.O
Originally posted by Shane
Russia will convert the Currency of exchange, for the Oil Supplies flowing into Europa to the Euro. This is their biggest market, so their need to continue to sell in USD is sort of nutty anyhow.
As for the USD and it's "DRIVEN" devaluation, this maybe seen as an effort to place North Amercia in a position to Blend the Currencies, such has occured in Europa.
30 some odd Million in Canada
330 some odd Million in the US
110 some odd Million of Mexicans.
All using one Currency.
I think this was some of the "Balance" of items on the N.A.F.T.A. table, and frankly it may even include many South American Parties by the Time it is completed.
It is either this, OR
The Elimination of CASH completely, and a Move to the Electonic Credit as a form of exchange.
This reduces the ability of the Underground Community to flourish, and affords all Governments the ability to Collect those Taxes, being missed in "Cash" Transactions, as well as ensuring the Collection of the Missed, "underthetable" Cash Income Taxes.
Dollar rules the world
Khaleej Times Online ^ | 11 July 2006 | Mohammed A. R. Galadari
Posted on 07/27/2006 8:01:39 AM PDT by Marius3188
DESPITE some apprehensions about the erosion of mighty dollar and high oil prices, United States continues to be the world's richest country. The reigning superpower tops a new list of the wealthiest nations issued by the World Bank on the basis of the GDP and spending by consumers.
And why not? This is the prize you get rewarded for running the world's most successful economic system based on capitalism. Whether it's a liberal republic or parliamentary democracy, they succeed and prosper because they share a capitalist vision.
America has had a solid and stable system of governance that has not been interrupted for the past couple of centuries. And it is ruled by a clear economic vision backed by market reforms.
As a result, America, the world's most powerful nation, is also its richest and economically most powerful with a GDP of $12.46 trillion. It is home to eight million people who are richest in the world, almost equal to the population of many countries in Europe. The World Bank list only reflects the economic and institutional strength of the country that is rightly the leader of the industrialised nations and free market forces.
To top it all, there is democracy, political freedom, free and outspoken media and the freedom of expression, which are seen as a blessing by the leaders and government officials.
Originally posted by NinjaCodeMonkey
1 US dollar = around 4 cents so it has already hit the floor. It is a worthless currency and will soon be replaced with a new one.
Originally posted by lardo5150
What would happen if we switched to a euro?
Originally posted by DJMessiah
The Dollar has always been falling in price as time progresses. It's because the Fed is printing more money than needed for the public use. Most of the new currency is going straight to the government to pay for war costs, aide, and building projects.
A way to counteract inflation by the Fed is to either raise the interest rates (which causes banks to give out a lesser amount of loans, mortages, and credit), and to also litterally destroy money by shredding any paper currency. The problem is that their methods of minimizing the amount of paper currency in the US hasn't caught up to how much they keep printing.
One of the best commodities to invest in is gold. Paper currency is nothing more than another "IOU" in a fiat system. With gold, the price will never go down significantly, due to its wants by every government in the world.