Inflated dollar - what can collectors do or help?.

would you like to by some nice Candian coins? i have an XF 1948 dollar....

the lower the dollar goes, the more dollars are needed to buy a product. if a coin costs $1.00, but the buying power of the dollar drops to $0.50, it now takes twice as many dollars to buy that same coin. the value of the coin hasn't changed, the buying power of the dollar used to buy it has.

next week at Baltimore you will see the Russians and Germans buying like mad. they can buy so much more now that the US dollar has dropped in value.

-Steve

 

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The U.S.A. dollar is still king and will be for a long time to come. This country will do whatever it takes including sinking the dollar on purpose

 

I think this thread has lost its way...

but I agree, go back to the gold standard. (I'm not an economist, I'd just LOVE being able to search rolls of sacajawea's and presidents for GOLD! :-D )

 

yes, the dollar is still king... that's why China is looking to move portions of it's reserve into Euros.

http://www.marketwatch.com/news/sto...D1E-4E6A-BF51-D1DD1D2A874E}&dist=MostReadHome

coin collectors can do nothing to bolster the US dollar's value on the world market

-steve

 

There's a big difference between inflation and the dollar dropping relative to foreign currencies. Domestic inflation is low.

Perhaps a more accurate assessment of current conditions would be "the lower the dollar goes relative to other currencies, the more dollars are needed to buy foreign products, thus making domestic goods more attractive to Americans, and American goods more attractive to foreigners."

EXACTLY. A dollar dropping vs. foreign currencies makes US goods more attractive. That's the whole point of "weak dollar" economics.

It also makes tourism here more attractive to foreigners... their currencies buy more here.

 

I've got all the Canadian coins I can handle. Although I don't have any silver Canadian dollars yet. I just moved here 5 years ago, so I didn't even get to use the nickel dollars.

 

Inflation

Inflation is low if you use the CPI and the PPI . Consumer price index, and the producer price index. They do not take into account the staple items for the consumer or producer. You have inflation , but the people who live on fixed incomes get a small bump from the feds based on the figures they use. Both indexes are outdated and the citizens on the bottom pay the price. Those who retire or have catistophic medical expenses many times have to file for chapter 13 to keep a home to live in.
I would not see the feds giving up the new found taxes from gasoline and related products any time soon. If you purchase on the net you have seen shipping costs go off the charts.
Ship cheaper and use ground , or get smart and use the rail system that can deliver goods in tons per mile much less then any conveyence we have. Consolidating freight in mass to the coasts and major cities could help save energy.
We are not trying hard enough to make a substantial dent in oil dependence. It cost more for fuel as well as a plastic syringe, or a roll of shrink wrap.

 

We are not, never have been, and hopefully never will be a democracy. Try reading the constitution.

 

dollar gain strength

u.s. dollar is one of the strongest currency right now. one euro equal to u.s.$1.30 and one british pound equal to u.s.$1.67 and lastly one u.s.dollar equal to canada$1.20

 

"Inflated dollar - what can collectors do or help?"

We can vote for candidates that will not allow defecit spending followed by the printing of money to pay debts.

I doubt either the democratic or republican candidates will step up to the plate, but it is worth noting that the last president to do this was a democrat....Mike

 

What can you do ?

Coin collecting in certain countries is for the wealthy.
They have Socialism or Communism.

 

Hence the drop in gas and precious metals. Your dollar purchases more silver again! $9-$10 range. It didn't go down, the dollar's purchasing power went up.

I wouldn't count on it lasting for long. Numbers are so inflated and exaggerated that I wouldn't count on this lasting for long at all. Especially if it's primarily relying on the crutch of this bail out. That money will be gone but the problems won't be solved. Things didn't just magically get fixed in a year and now we're "good to go". Just wait.

 

This question is so insane it is laughable. "They" just got done printing off another 700 billion worth of new money, in addition to what they're printing off on a normal day.

It's so far out of control, there is nothing any individual is going to do but sit back and watch and hopefully not become slaves in the mean time.

:loud:

What needs to be done? The U.S. needs to admit we're bankrupt, start over, put the severest of restrictions on private banks including unprecedented external, 3rd party, 4th party, 5th party oversight, dump the insane federal reserve system forever, put our government back in charge of our money, go back to a currency that has some type of backing and elect responsible officials.

Unfortunately, the slavery scenario is much more likely.

 

That's hard to say. The credit crunch has hit Europe worse than the US.

I think "just wait" is very good advice.

Yes, it's true... major problems don't get sorted out fast. But neither does major productivity vanish overnight. And America has the highest "value add per worker" of any nation in the world... over $70,000 / year.

We've seen major moves up and down for a very long time. Some of us still remember the 1987 CRASH which was screamed about so loudly.

And yet most of somehow survived that. In fact, most are thriving. Right now. Today. Thriving. I am, and everyone I know is.

Interesting that Americans have a very high standard of living - so high we can afford luxuries like expensive coins - and still have such negative attitudes.

So yes... "just wait" is very good advice. :thumb:

Just like it was good advice during the hysteria of 1970s Global Cooling, the 1987 CRASH , the 1990s dotcom CRASH , and now the latest hysterical CRASH .

Just wait.

This, too, shall pass.

 

Man, take a look at the national debt curve. In comparison, we were actually in fantastic shape through the 60s,70s and 80s. It could still feasibly be taken care of!
Now look at it. It cannot be compared to recent history. This is uncharted waters and it's only getting worse. There is no fix and there won't ever be one. Having the ever elusive balanced budget for a couple years couldn't have an ounce of an effect.

Everybody wants to say its ok because we've got through it in the past. Well, the future is far, far, FAR from the past and what we've had to deal with. You have to agree that eventually at some point in the future, the tax revenue coming in will not be able to cover THE INTEREST on what is owed. Then what happens?

Since they figured out a fiat currency, maybe they can figure out a fiat math system next so it can work. Otherwise, it's higher taxes until everything you make goes to taxes. Maybe that won't happen in 200 years. Maybe it will happen in 100. Who knows? The numbers are too large for me to figure out. The only ones who could tell you are the ones who are reaping the benefits for doing nothing.

 

raise taxes and tariffs and take a 300,000,000 coins out of circulation.

I would have put this thread in the general discussion area.

Ruben

 

Just sell US coins for foreign currency. I'm sure after a few billions of $ worth of coins are sold, the exchange rate would be much different...

 

dollar - one of the strongest

one u.s. dollar = canadian $1.2588

one u.s. dollar = australian $1.4964

one euru = u.s.$1.2821

one british # = u.s.$1.6297

 

Interesting theory... I've heard candidates promise this before. Congress really has more power to do anything about it than the president does. All the president can do is submit a budget and hope Congress approves it... or try to veto a budget bill he doesn't like and hope Congress doesn't have to votes to override it.

Um yeah, and it was Andrew Jackson!

Well that really did that. Some give Clinton credit for doing the same thing, and he deserves some... but the main reason he ran the budget at a surplus has to do with the dot com boom greatly increasing the incoming revenue. He cut spending on some things, increased it on others... but when the dot com bubble burst and we were still spending at the same level suddenly we were in a deficit again.

Without straying too much into the political realm... let me just make the rather uncontroversial assertion that despite what the two major parties promise in campaigns, it's not really been a major priority for members of either party to reduce spending. The obvious solution if you're running at a deficit is to either reduce spending, increase inflows, or both. Neither party disputes this. Where the political controversy errupts is when you argue what you cut spending on, and/or what you do to increase revenue... then politicians become more concerned about protecting their own turf than in balancing the budget.

No congressman wants to raise taxes or lower how many goodies he gets his continuents from the federal piñata... that costs votes. Promising to balance the budget is a crowd pleaser, but doing what it takes is not, so the smart political strategy would be to promise to try to balance the budget, but not actually do much along those lines. Hence the debt that never really goes away.

As for inflation... well it's not that high anyway, domestically. If it's weak against other currencies... well unless you buy a lot of foreign goods it's probably not going to mean much to you. On the upside, a weaker dollar (based on foreign exchange rates, not domestic inflation) means it's easier to export goods and encourages foreign tourism!

 

Everyone is fleeing to the Dollar

Howdy folks,

Right now the dollar is showing some grand strengh but it's because everyone the world over is selling their stocks (and everything else) and fleeing to the dollar for safety. It has nothing to do with the soundness of the dollar. Hell, they just spent $1 trillion they don't have on the banking crisis.

The admitted national debt is $10-11 trillion. The unfunded debt is $50-60 trillion and this includes social security, medicaid, trust funds, etc. People, you simply cannot cut benefits and/or raise taxes sufficiently to cover this tab. The only solution is for them to monetize it - this means printing shiny new dollar bills to pay it. They'll try to avoid hyper-inflation with a combination of solutions - and to keep the system in place. I don't know if they'll succeed.

Yesterday at the congressional testimory, an S&P email stated 'Let's hope we're retired or out of the market before this house of cards collapses' dated 2006.

Well, it's collapsing and folks are trying to get whatever they can in dollars because it's what they've known. Me, I'm buying gold and silver.

The dollar is toast. What you're watching is the fat lady singing for it.

rono