Friday, February 8, 2008

Where has all the money gone

Here's something that caught my attention and had me wondering. I use Ebay alot both for buying and selling & it struck me hard when I bought an item from Canada and they wanted the money in Canadian dollars instead of U.S. dollars. So, I checked the exchange rate and found the U.S. dollar is worth less! So I took it upon myself to do some research and here is what I came up with. On 1 January 2000 (when Clinton was still President), the U.S. dollar was worth 1.45 Canadian dollars (CD). As of today the U.S. dollar is worth .98 CD or a decrease in value of almost 50%!!! Also, the USD was worth .99 Euros and .61 British Pounds (BP). Today it is "worth" .68 Euros and .51BP! That is a 31% drop in value against the Euro and 16% drop against the BP. No wonder we have a huge deficit in this country now. Our money is becoming worthless. It has even dropped 13.4% against the Chinese Yuan (from 8.2/USD in 2000 to 7.1/USD today). That means China's money is becoming more valuable than ours! No wonder China is buying up all our stocks and land. They will own us before we know it.

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