Group: rec.collecting.coins · Group Profile
Author: Bruce Remick Date: Nov 3, 2007 18:06
"DG" wrote in message
> Bruce Remick wrote:
>>Not because the dollar is depreciating, but because the cost of living
> What currency do you use?
The US$, of course. If the upward price of gold means the US dollar is
depreciating, why isn't that relative depreciation reflected in the prices
of everything else I buy.
>>My convoluted interpretation, maybe, but I've grown fond of
>>the dollar. I've been retired and getting annual cost of living raises
>>from the federal govt for ten years now. The wife gets annual Social
>>Security cost of living raises, too. During that period the prices of
>>gasoline, gold, etc. have fluctuated up and down. I blame supply and
>>demand, speculation, world events, etc. for the rise and fall, and don't
>>consider the dollar to have lost value in the US. However, were I to go
>>another country and change my $US into the local currency, I would
>>take a hit compared to just a couple years ago. So I hold off doing that
>>and stay home. It's all in one's perception.
> LOL... The US dollar is shifting away from being the world reserve
> currency. Just because you choose not to understand does not make it
How the US dollar is regarded in the rest of the world does not generally
affect what it buys me here in the US. I don't "choose not to understand"
the economics of it. Your statement that the dollar is shifting away from
being the world currency means nothing to me as it relates to my own
situation. Sounds like jargon out of a textbook.
All I'm saying that the relative $US value, along with consumer confidence
figures, bank failures, and all the other abstract indices that seem to
excite Wall Street have never had an affect on my personal financial quality
of life. Prices will continue to rise as long as I'm alive. Salaries
usually will rise, too, to keep pace. So call that dollar depreciation if
that's what it takes to get an A to pass the course. I won't argue with you