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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: Hawkmoon who wrote (29508)	3/7/1999 7:09:00 PM
From: PaulM	Read Replies (1) of 116764

Take a second look at "The Destruction of World Currencies" Link provided The data are apparently based on CPI measurements in each respective country. However, what may not be apparent at first is that the currency strength ranking doesn't exactly match the loss in purchasing power as measured by CPI. For example, while the Austrian currency has lost 84% of its purchasing power, as measured by Austrian CPI, compared with only an 82% loss of purchasing power for the dollar, as measured by American CPI, the AUSTRIAN CURRENCY HAS NEVERTHELESS APPRECIATED SOME 200% AGAINST THE DOLLAR OVER THE SAME PERIOD. Similarly, while the yen lost 87% "purchasing power," again compared with the dollar's 82%, the yen appreciated some 200% against the dollar over the same period. Perhaps foreigners are more honest than we? If so, you might reconsider our growth measurements as well.

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