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Strategies & Market Trends : The coming US dollar crisis
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To: Real Man who wrote (3789)2/1/2008 2:12:04 AM
From: dybdahl   of 71474
 
In Ukraine, they also had a lot of inflation in the 1990s, and they started to make all contracts in U.S. dollars. Today, when you rent an appartment, the value is set in dollars, but you pay in the local currency.

The government has realized that, and therefore now has a currency peg between the UAH and the USD at 5 UAH = 1 USD.

However, the falling value of the dollar has created problems in Ukraine, and produced inflation. This makes people very angry, which is why they are now trying to combat inflation. However, without having their own real currency, it's a problem.

I know that some are discussing to prohibit the use of US$ in contracts, and to remove the peg to the US$ in order to be able to combat inflation. Some consider to make a peg to the Euro.
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