Re: Norris is talking crap. According to this chart, which I am sure is correct, the dollar is, in fact, lower than where it was exactly ten years ago.
I'm afraid Norris is right... Actually, you should forget about the euro when analyzing the USD chart over the last 8-9 years. The right method, as Norris suggested, is to pick any "old" European currency (BEF, DM, FRF,...) and check its exchange rate to the USD.
It's no theoretical game only: if, for instance, you still own Belgian francs, you can go to Belgium's National Bank office and exchange them for euros at the rate/peg of 1 euro = 40.3399 BEF. Therefore, to understand Norris' reasoning, you must look at the USD/BEF chart over the past 8-9 years or the USD/FRF, USD/DEM, etc. and you'll see that 8-9 years ago, the EURO traded for as high as 1.45 USD. I told you: I myself bought USD at 28.97 BEF and sold it at +/-36.00 BEF a year later...
Gus |
