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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (127755)	3/30/2004 6:41:20 PM
From: Bilow	Respond to of 281500

Hi KLP; Re: "Do you think the high gas prices have something to do with ..." No, the record prices of gas are due to the declining value of the US dollar. Here's some charts, click and learn: US Dollar to Euro: finance.yahoo.com US Dollar to Yen: finance.yahoo.com US Dollar to GB Pound: finance.yahoo.com US Dollar to Swiss Franc: finance.yahoo.com Now I'm not arguing that high gas prices are simply a consequence of a declining dollar. There are other factors, including Bush's war against Iraq disrupted oil suppliers and increased their bitterness towards us. It's also true that, over the long term, oil supplies are slowly running out, and that China is buying up more and more of the stuff. But the largest single recent factor is the dropping of the US dollar. Gas prices are not setting record highs in Europe, Britain, Japan or Switzerland, as the above charts will prove, they're setting record highs only in the US (and in places that dog the US dollar). -- Carl