29 ms·
It's fun to talk about the value of the dollar being manipulated by dark forces, and to hear people talk you'd think the dollar must have lost a lot of value re
by panarky 13y ago
It's fun to talk about the value of the dollar being manipulated by dark forces, and to hear people talk you'd think the dollar must have lost a lot of value recently.
Not really.
In the last year, the US dollar actually increased in value 10% against the Canadian dollar, increased 12% against the Japanese yen, and increased 20% against the Australian dollar. It decreased 1% against the Euro, decreased 3% against the Swiss franc, and decreased 4% against the pound.
In gold terms, the US dollar is 39% more valuable today than it was a year ago.
I also put some money into crypto-currencies, though not because I fear the imminent collapse of the dollar. The dollar's value has been pretty stable even through the financial collapse.
Dollars seem perfectly fine for transactions, though no currency is suitable as a store value for decades or generations.
- Alex3917 13y agoThe reason the dollar is increasing in value is because the stock market is increasing in value, and the reason the stock market is increasing in value is because it was previously decimated by a group of wall street insiders working together with government regulators to crash the economy.
- TDL 13y agoYes, because what the financial elite want the most is to crash economy. It's not like they have all their wealth tied up in financial assets that rely on a healthy economy to remain valuable...
- retrogradeorbit 13y agoIt's being manipulated, not by dark forces, but by sovereign nations in the open market. https://en.wikipedia.org/wiki/Currency_War_of_2009%E2%80%932011 https://en.wikipedia.org/wiki/Currency_War_of_2009%E2%80%932...
- kolev 13y agoYou really believe Bitcoin will survive decades?
- panarky 13y agoI don't think any currency is a good store of wealth for decades or generations. Bitcoin doesn't have enough of a track record to make predictions about how long it will last. I bought Bitcoin and other crypto-currencies not as a long-term store of wealth, but for their other valuable qualities.