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#21
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Look,
All I know is that John W. Snow wants to devalue the dollar and he is raising this opinion publicly. Take it for whats its worth. If you would like to find out more, perhaps someone else here knows more on this situation. I am just repeating what I heard from Washington DC Fred And, the $10 turning to $8 was only an example. Geez.... "Joe Fischer" wrote in message ... On Tue, 7 Oct 2003 "Fred" wrote: Well, I'll tell you that you are NO Nostradamus(sp?) It is public knowledge that Treasury Secretary John W. Snow is trying to devalue the US Dollar. He is not hiding behind a fence or a bush or behind anything else...he is trying to do this out in the open. What does "devalue the dollar mean"? Argentina devalues their money every 4 or 5 years or so. And although I am uncertain as to the reason why (atleast I am honest), that $10 in your bank account now would be worth $8(est). What are you talking about? There are so many different effects of inflation (good and bad effects), and many effects of currency exchange rates (good and bad), a statement about $10 becoming $8 is not meaningful. So, its no secret that the US dollar might lose its shirt. Fred Please don't ask me to show my references on this, its a financial talk show that airs on Saturday Mornings. The metals traders will love you, and it is well known what lovers do. There are many complaints about inflation here, but the US has the most stable currency in the world, and the lowest inflation over the last century, over the last 25 years, and over the last 10 years. Coins are better to hold than paper, but coins at face value are best, next to US Savings Bonds. Metals go up and down, and rarely have anything to do with exchange rates or domestic inflation. Joe Fischer |
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#22
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Joe Fischer wrote in message . ..
On Tue, 7 Oct 2003 "Fred" wrote: Well, I'll tell you that you are NO Nostradamus(sp?) It is public knowledge that Treasury Secretary John W. Snow is trying to devalue the US Dollar. He is not hiding behind a fence or a bush or behind anything else...he is trying to do this out in the open. What does "devalue the dollar mean"? It means the same thing as inflation. That's what the whole thing with China's exchange rate is all about, weakening the US dollar so US goods will temporarily look more attractive on the export market. Argentina devalues their money every 4 or 5 years or so. And although I am uncertain as to the reason why (atleast I am honest), that $10 in your bank account now would be worth $8(est). What are you talking about? There are so many different effects of inflation (good and bad effects), and many effects of currency exchange rates (good and bad), a statement about $10 becoming $8 is not meaningful. So, its no secret that the US dollar might lose its shirt. Fred Please don't ask me to show my references on this, its a financial talk show that airs on Saturday Mornings. The metals traders will love you, and it is well known what lovers do. There are many complaints about inflation here, but the US has the most stable currency in the world, and the lowest inflation over the last century, over the last 25 years, and over the last 10 years. Coins are better to hold than paper, but coins at face value are best, next to US Savings Bonds. Metals go up and down, and rarely have anything to do with exchange rates or domestic inflation. Joe Fischer Personally I'd consider US savings bonds slightly better than US paper money (both are backed by nothing but the word of the US government, but at least the bonds pay a little interest), and slightly worse than modern US coinage. FWIW, the nickel is the 'best buy' right now from a metallic content / face value position of any still minted coin. Not quite as good as a pre Zinc penny, but reasonably close. Give copper a solid runup from a tech recovery or the dollar a drop from inflation and they might wind up having to debase the nickel. Interesting how now we have to think about debasing coinage that's already made from base metals. |
#23
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It means the same thing as inflation. That's what the whole thing with
China's exchange rate is all about, weakening the US dollar so US goods will temporarily look more attractive on the export market. So devaluation would lead to a (temprary) surge in US exports--because the weaker dollar makes them cheaper to everyone--and results in a (temporary) boom in the US economy, until other countries make adjustments to protect their own exports. Should result in a (temporarily) booming US economy during the first three quarters of 2004! Regards, Tom |
#24
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or not. such things are a shot in the dark.
my guess is that one of the reasons the Chinese authorities decided to legalize private gold ownership was to soak up a lot of excess Chinese cash that was floating around to try and reduce inflationary pressures. one possibility that could result from a weaker dollar is imports will be more expensive, leading to higher inflation, reducing the risk of deflation, which has been a major worry of a lot of very bright people. "WinWinscenario" wrote in message ... It means the same thing as inflation. That's what the whole thing with China's exchange rate is all about, weakening the US dollar so US goods will temporarily look more attractive on the export market. So devaluation would lead to a (temprary) surge in US exports--because the weaker dollar makes them cheaper to everyone--and results in a (temporary) boom in the US economy, until other countries make adjustments to protect their own exports. Should result in a (temporarily) booming US economy during the first three quarters of 2004! Regards, Tom |
#25
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WinWinscenario wrote:
So devaluation would lead to a (temprary) surge in US exports--because the weaker dollar makes them cheaper to everyone--and results in a (temporary) boom in the US economy, until other countries make adjustments to protect their own exports. But conversely, both imported raw materials, including oil and gas, and the off-shore labor widely used for manufactured goods will cost more. So while US products will get cheaper, US expenses will get more expensive. Also, the US has a trade deficit, meaning it imports more goods than is exports, so overall, this should actually slow harm the economy, not boost it. -- Andrew |
#26
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From: winwinscenario
a booming US economy during the first three quarters of 2004! the first three quarters of 2004 a Michigan, Florida, and Texas. 8-) Coin Saver |
#27
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On Wed, 8 Oct 2003 "Fred" wrote:
Look, All I know is that John W. Snow wants to devalue the dollar and he is raising this opinion publicly. Which has very little to do with bags of bullion coins. Take it for whats its worth. If you would like to find out more, perhaps someone else here knows more on this situation. I am just repeating what I heard from Washington DC Fred Before anybody thinks about going off the deep end, I would suggest comparing silver production now with 1980, I am guessing it shows more silver has been produced since 1980 than the all time total before 1980. More than half of silver production is by product of copper and zinc mining. If everybody reading this newsgroup were to buy 10 bags it probably would not affect spot silver prices. Rumors are worth what they cost, especially if they come from DC. Half the world wants dollars, maybe making it cheaper to buy them would have a benefit, but imports may continue at the same rate, increasing the trade deficit. It is best to not worry about it, or just buy Yen. :-) Joe Fischer |
#28
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I've heard a lot of people talking about deflationary concerns, but to
be honest I just don't buy into it. The Fed is printing money like mad right now, so even if all the unemployed people are trying to pinch every penny the sheer mass of new money flooding into the market will keep prices up. Then when the economy eventually does recover, and the unemployed people go back to work and start spending, the fact that there is way more money kicking around on the market than there used to be will catch up with them. "Bob Peterson" wrote in message ... or not. such things are a shot in the dark. my guess is that one of the reasons the Chinese authorities decided to legalize private gold ownership was to soak up a lot of excess Chinese cash that was floating around to try and reduce inflationary pressures. one possibility that could result from a weaker dollar is imports will be more expensive, leading to higher inflation, reducing the risk of deflation, which has been a major worry of a lot of very bright people. "WinWinscenario" wrote in message ... It means the same thing as inflation. That's what the whole thing with China's exchange rate is all about, weakening the US dollar so US goods will temporarily look more attractive on the export market. So devaluation would lead to a (temprary) surge in US exports--because the weaker dollar makes them cheaper to everyone--and results in a (temporary) boom in the US economy, until other countries make adjustments to protect their own exports. Should result in a (temporarily) booming US economy during the first three quarters of 2004! Regards, Tom |
#29
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From: winwinscenario
a booming US economy during the first three quarters of 2004! the first three quarters of 2004 a Michigan, Florida, and Texas. 8-) Coin Saver I think that's the point. Federal fiscal policies can be effective only in the short run, because markets and countries adjust to minimize the impact of what we do. With America's four-year electoral cycle, the short run is the first three quarters of a leap year. The colossal amount of stimulus that has been injected into the economy--deficits that will actually exceed a remarkable $600 billion next year, for instance--is certain to boost the economy in the short term. The long-term effects of record deficits, and other policy decisions, are less certain and less likely to be positive. Regards, Tom |
#30
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"Jason Ditz" wrote in message m... I've heard a lot of people talking about deflationary concerns, but to be honest I just don't buy into it. The Fed is printing money like mad right now, so even if all the unemployed people are trying to pinch every penny the sheer mass of new money flooding into the market will keep prices up. I don't really buy the deflation argument either, I just said there are some very bright people who do worry about it. Then when the economy eventually does recover, and the unemployed people go back to work and start spending, the fact that there is way more money kicking around on the market than there used to be will catch up with them. On the other hand, a lot of that money got soaked up as federal debt where it will be socked away for a long time. IMO, the national and world economys are just to dynamic for anyone to accurately predict what will happen. "Bob Peterson" wrote in message ... or not. such things are a shot in the dark. my guess is that one of the reasons the Chinese authorities decided to legalize private gold ownership was to soak up a lot of excess Chinese cash that was floating around to try and reduce inflationary pressures. one possibility that could result from a weaker dollar is imports will be more expensive, leading to higher inflation, reducing the risk of deflation, which has been a major worry of a lot of very bright people. "WinWinscenario" wrote in message ... It means the same thing as inflation. That's what the whole thing with China's exchange rate is all about, weakening the US dollar so US goods will temporarily look more attractive on the export market. So devaluation would lead to a (temprary) surge in US exports--because the weaker dollar makes them cheaper to everyone--and results in a (temporary) boom in the US economy, until other countries make adjustments to protect their own exports. Should result in a (temporarily) booming US economy during the first three quarters of 2004! Regards, Tom |
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