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Strategies & Market Trends : ahhaha's ahs

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To: GraceZ who wrote (24636)	5/31/2017 1:11:54 PM
From: grusum	Read Replies (1) of 24758

"Maybe we have to go ask some elderly Brits whether having their currency lose reserve status was painful." i would argue with them that losing reserve status was a symptom, not a cause. "Reserve status might change slowly but certainly not without pain, especially when the country in question runs persistent twin trade and fiscal deficits for decades." i agree with you on the fiscal side, but walter williams is very convincing when he argues that trade deficits are fiction. they don't really exist. all they do is distort the economists' view of the big picture. "What is clear is that all fiat currency falls in value over longer time frames." that's true, but money, according ahahaha's definition of it, does NOT. for instance, gold since 1913 has risen 60-61 times in terms of dollars. yet in terms of US money, gold only costs about half as much as it did back then. "The dollar might just be the best house in a bad neighborhood right now." it might not even be the very best house... i like the swiss franc a little better right now.

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