3 articles prove Nations switching from Dollar to EURO

several, starting from Drudge 12/28/2006 ^ | 12/28/2006 | many

[John Valentine]

And the Dollar will collapse the day when China sells ALL its reserves.

A commonly held, but totally erroneous belief. The notion is as nonsensical as the notion that if China sold all its gold, the prioce of gold would collapse. Or copper or zinc, or whatsoever asset you wish to name. While there would be a dollar decline if China or anyone, even us, started dumping dollars, any such decline would be temporary and self defeating. Like the bogeyman under the bed, it just isn't worth losing a minute's sleep over.

[DeaconBenjamin2]

1909-1982 Cent (95% copper)
Value of metal $0.0195902
Metal value to face value 195.90%

Jefferson Nickel
Value of metal $0.0673616
Metal value to face value 134.72%

1982-2007 Cent (97.5% zinc)
Value of metal $0.0108529
Metal value to face value 108.52%

1946-1964 Dime
Value of metal $0.9230
Metal value to face value 923.04%

www.coinflation.com

[Marine_Uncle]

Thanks for the ping.

[do the dhue]

Oh the joy of using cr@ppy currency with pics of Mexican Revolution heroes and Canadian moose.

I want to ROTFw/L but that aint funny.

My uncle always told me to buy Gold and Silver.

[Gondring]

They need to start a new series of "States' $100 bills" to get people squirreling away cash like they did with quarters.

Or start a trend among the young and impressionable... "burning your own money is fashionable"... or "burn $100 in protest of..."

[Gondring]

Even if that's right, on the flip side, the damage that CAN be caused is enough of a threat to keep us enslaved.

[Centurion2000]

Why is it so easy for people living near the borders to buy cheap gas in Luxembourg or Austria? Why is it so easy for Dutchmen to visit the Christmas markets in Aachen or Düsseldorf? Why have weekend-trips to Rome, Barcelona or Paris become so popular?

Because you have tiny little countries that are smaller than a lot of our states.

[Dukie07]

What a silly reply. It doesn't address Michael's statement at all.

Anyway, of course we are going to stop making pennies and nickels. It's just one step closer to stopping the making of all coin and currency. Didn't you get the memo? Cash is plastic nowadays......

[texastoo]

Have you seen any articles regarding the trip to
China by Henry Paulson and the economic gurus in the first part of December? I had heard on TV that Paulson was hired to devalue the dollar slowly.

All I know is that China is going to keep the yuan pegged to the dollar. So it sounds like a failed trip.

[Michael81Dus]

No, because you don´t have exchange fees (and no exchange of money) and because you can compare prices.

Don´t think that Germans are going to short-trips to Italy or Spain other than by plane. The size of the countries and the distances play no role.

[RaceBannon]

Euro notes cash in to overtake dollar
By Ralph Atkins in Frankfurt

http://www.ft.com/cms/s/18338034-95ec-11db-9976-0000779e2340.html

Published: December 27 2006 22:07 | Last updated: December 27 2006 22:07

The US dollar bill’s standing as the world’s favourite form of cash is being usurped by the five-year-old euro.

The value of euro notes in circulation is this month likely to exceed the value of circulating dollar notes, according to calculations by the Financial Times. Converted at Wednesday’s exchange rates, the euro took the lead in October.

The figures highlight the remarkable growth in euro notes since their launch on January 1 2002, three years after the start of Europe’s monetary union, which in January welcomes its 13th member – Slovenia, the former Yugoslav republic.

“After the launch, we expected growth to stabilise – but it has continued over five years,” Antti Heinonen, head of the European Central Bank’s bank notes directorate, told the Financial Times.

[mkjessup]

You can't even say our dollars are backed by plutonium when private international companies own and house our nuclear facilities. They did as of 2003.

Not our military inventory, uh uh.

[Calpernia]

As of 2003, we have a private company operating a nuclear facility for the federal government in Miamisburg and in Ohio.

If there is a difference between Federal and MIL, I don't know.

[mkjessup]

It is my understanding that private companies may indeed be utilized for the purpose of storing nuclear materials which are NOT weapons-grade, i.e., nuclear power plants, etc.

I would pretty much bet the rent that nuclear warheads and the like are kept safe and secure in strictly United States military hands, with NO possibility of private parties being involved. Using private contractors for such a purpose would not only be dumb as Hell, but it very likely would be in violation of U.S. law, in addition to international agreements on arms control that we've signed on to.

Although I suppose the concept could lead to some interesting contract proposals, as one private company sought to make a more attractive bid than their competitors, "not ONLY will we safely store all nuclear warheads for the United States Armed Forces, we will guarantee that each and every nuclear device will be cleaned and polished on a daily basis by nubile young Hooters Girls looking to augment their income!"

Yes, I could see that sort of entrepreneurial spirit.

[Calpernia]

I don't know. The private parties where the first nuclear bomb for the Manahttan Project via its facilities in Dayton Ohio. Privately owned and the Mound Project in Miamisburg.

So unless things changed since 2003, I wouldn't take comfort in our dollars being backed with weapons. That is a double edged sword.

[Cacique]

btt

[DTwistedSisterS]

If China SELLS the dollar...

doesn't that imply there is a buyer who bought all that dollar?

[John Valentine]

doesn't that imply there is a buyer who bought all that dollar?

Yes, indeed, my astute friend. And therein lies the weakness of the "collapse" fear-mongers. They assume if China doesn't want dollars, no one else will either. Anyone who knows markets knows that there are ALWAYS buyers and there are ALWAYS sellers. Now, it's also painfully obvious that prices move in response to the activities of the buyers and sellers. What brings buyers into a market? Lower prices. The sky isn't falling and won't be.

[John Valentine]

The value of euro notes in circulation is this month likely to exceed the value of circulating dollar notes, according to calculations by the Financial Times. Converted at Wednesday’s exchange rates, the euro took the lead in October.

I take note of this and I also note that the sky is still in the heavens and sun still rises every morning. I'll also note that even as an American living abroad, I have still never held a Euro in my hand, although I have from time to time seen one here and there, and I have seen photographs of them.

[Elsie]

Because the Fed's started printing their OWN money and drove the other stuff outta the market!

Many banks printed their OWN money in the early years of our country.

(Yes, it IS still legal to do it!)

http://www.aislingmagazine.com/aislingmagazine/articles/TAM26/OwnMoney.html