Thu 18 Nov - 10:45|
From the 17th November 2004 on, for 1 euro you need 1.30 dollars.
From the 17th November 2004 on, for 1 euro you need 1.30 dollars. The «Federal Reserve» - http://www.federalreserve.gov/releases/h6/hist/h6hist1.txt - declares the amount of the dollars in outstanding banknotes is more than 694 billions, guaranteed for the 18.4 per cent by fine gold reserves and the remaining by bonds and foreign currencies, in their turn mainly guaranteed by dollars. The 694 billion dollars in banknotes origin a total outstanding mass (M3) of 9,000 billion dollars, more than 13 times the value of the dollars in banknotes and more that 72 times the value of the fine gold reserves. In three years the dollar has lost the 52 per cent of its value. In two years, it will loose at least another 40 per cent. The dollars loss in value in regards to other currencies is slowed down only by the fact the other currencies are guaranteed by dollars and therefore also them loose value in proportion to the dollar. The loss of value from all the currencies (euro included), therefore the loss of the purchase power, is proportional to the States' public debts increase. Only Banks earn from public loans. Even if they will never receive the interests.