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<p>[QUOTE="phubanks, post: 832630, member: 23286"]Currency exchange rates are a fools way to track currency devaluation ... </p><p><br /></p><p>the currency of every country on the planet is unbacked ... it's stupid to look at how one currency values in relation to another. All currencies are being slowly devalued ... just that some are devaluing faster than others.</p><p><br /></p><p>Everyone thinks the dollars is getting strong right now ... no it's not ... it's just the euro is weakening faster.</p><p><br /></p><p>Let's look at it another way</p><p><br /></p><p>in 1930 ... you have a twenty dollar bill ... and your neighbor takes his twenty and exchanges it for a twenty dollar gold piece</p><p><br /></p><p>you both put this away in a drawer for 80 years</p><p><br /></p><p>in 2010 ... the $20 bill is still worth $20 (ok maybe a circulated 1928 $20 bill might be worth $100 on ebay!) ... while the gold piece is worth $1120.</p><p><br /></p><p>so in 2010 it would take 56 $20 bills to buy back that $20 gold piece</p><p><br /></p><p>so which would you rather have had in your drawer?[/QUOTE]</p><p><br /></p>
[QUOTE="phubanks, post: 832630, member: 23286"]Currency exchange rates are a fools way to track currency devaluation ... the currency of every country on the planet is unbacked ... it's stupid to look at how one currency values in relation to another. All currencies are being slowly devalued ... just that some are devaluing faster than others. Everyone thinks the dollars is getting strong right now ... no it's not ... it's just the euro is weakening faster. Let's look at it another way in 1930 ... you have a twenty dollar bill ... and your neighbor takes his twenty and exchanges it for a twenty dollar gold piece you both put this away in a drawer for 80 years in 2010 ... the $20 bill is still worth $20 (ok maybe a circulated 1928 $20 bill might be worth $100 on ebay!) ... while the gold piece is worth $1120. so in 2010 it would take 56 $20 bills to buy back that $20 gold piece so which would you rather have had in your drawer?[/QUOTE]
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