Posted on 09/21/2009 6:38:27 AM PDT by SeekAndFind
"A strong dollar is in America’s best interest," the Bush and Obama administrations have repeatedly assured us.
And yet for most of this decade the dollar has been sliding. Now, the greenback again is one of the world’s currency weaklings. But global financial markets, and governments, seem to be taking it in stride.
The dollar has taken a renewed pounding over the last two weeks, driving the DXY index -- which measures the buck’s value against six other major currencies -- to nearly a one-year low.
The euro has been the big winner as the U.S. currency has lost ground. The euro was at $1.47 on Thursday, its highest level since last September and up from $1.42 on Sept. 1.
But the dollar’s troubles haven’t set off alarm bells in Washington. Nor have the Chinese raised a new stink about the buck’s weakness and the devaluation threat it poses to their American asset holdings.
The lack of a ruckus this time reflects that the dollar is dropping for the right reasons, currency analysts say.
For one, investors worldwide are feeling better about the global economy, which is pulling money out of the classic hiding place of the dollar in favor of riskier assets, including emerging-market stocks.
"A lot of money is coming out of safe-haven dollar bets," said Michael Woolfolk, senior currency strategist at Bank of New York Mellon.
Investors and traders also are reacting normally to the interest rate differential between the U.S. and other countries: With U.S. short-term interest rates lower than those of most other nations, and the Federal Reserve in no hurry to raise them, the dollar naturally is at a disadvantage to currencies in countries with higher rates.
(Excerpt) Read more at latimesblogs.latimes.com ...
The America People has pretty much gone Nuts..
Thats why they have the government they deserve..
ELSE................ they would change it..
aBS, cBS, nBS, pBS, and Cnn-BS have become the propaganda arms of the democratic party..
Wonder when or if.... the villagers will burn them down..
it will never be undone...look how he gave away his major bargaining chip with the russians...missile defense. he wasn’t even at a bargaining table
No it can’t!!
At current silver prices, a 1964 dime will cost you $1.21 for the silver melt value.
If you can get them for a buck, please tell me where!!!
That's how I'm thinking. Also, if the price of electronics, for example, goes up, I'm not sure if I really care that much. I'd rather see computers and televisions get used a couple more years (and maybe possibly repaired when they break - creating more jobs here) rather than have them flow almost directly to our landfills from Walmart's shelves.
Some coin shops sell a dime for less than a buck.
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