Dollar hits $.93 in Canadian dollars

[opebo]

This also no doubt sucks hard for opebo. The dollar is now at just under 32 baht. I believe it was well over 40 and around 45 awhile back.

Its not good for me, but the weird thing is I make a good portion of my income in baht now that I'm working.  Also living upcountry has greatly reduced my expenditures.

But yes, it is disturbing that the bad policies of the Republicans have led to this massive impoverishment of the american people.

[opebo]

This is ridiculous. Canada's not even a real country

Interestingly, despite its shortcomings, it is a far superior country to the United States - at least from the perspective of the common citizen.

[opebo]

The Federal Reserve put in by Wilson, a democrat instead of a real central bank like every other nation is why the 2006 dollar is worth about 4 cents of a 1913 dollar.

I was referring to the bad policies of the last few years, Straha.  Inflation is fine - irrelevant really - as long as the standard of living of the lower class is going up as rapidly as possible. 

Paper currencies lose value because governments print them with wild abandon.

No, David, the proper formulation would be 'paper currencies lose value when governments print them with wild abandon'.  Your statement suggests this is inevitable, of course it is not. 

Also I see no evidence for the idea that printing = loss of value, regardless.  Japan 'printed' or created huge amounts of 'liquidity' into a deflationary environment for well over a decade and their currency kept increasing in value.  I suspect that creating currency from nothing is a vital part of managing the form of State control known as 'capitalism'.

[opebo]

It is amusing that you think that some metal or other has more reliable valuation than the gun out of which the whole system of value grows.

[opebo]

The US can slow (but not stop) its dollar exportation simply by extracting oil off its own coasts, since that is the commodity that the US loses the most cash on, besides its ongoing binge with Chinese garbage.

Ah, yes, right-wingers funny excuse for another environmental disaster, which would benefit only a small interest group.  This oil would be a tiny drop in the bucket!

[opebo]

The US can slow (but not stop) its dollar exportation simply by extracting oil off its own coasts, since that is the commodity that the US loses the most cash on, besides its ongoing binge with Chinese garbage.

This oil would be a tiny drop in the bucket!

You are (misleadingly) only considering oil reserves within the continental US and immediately off its coast. In this case, the oil reserves are shrinking.

Off the coast, particularly, off the continental shelf in the Gulf of Mexico in the deep sea, the oil reserves are staggering. In fact, the oil that the US extracts from our shallow platforms is the result of seepage from the deep sea.

Considering that the Gulf of Mexico is already a highway, I have less concern for environmental factors (especially since platforms today aren't nearly as inefficient -- leaky -- as they were thirty years ago) than I do safety and engineering ones, since the open ocean is a rough place.

And the purpose of this is not to replace foreign oil, but to supplement our supply

Ah well I am not deeply concerned about the environment, but I had never heard of this 'deep sea oil'.

[opebo]

Yeah, the $A is at $US0.91, but it got up to $US93 a couple of days ago. Big change from about 5 years ago when it was at $US0.49.

Parity is coming soon for you Oussies as well.

[opebo]

For that to happen the Dollar would have to hit about .85 CDN, assuming the CDN dollar and Aussie dollar didn't change much. But that looks unlikely, as the dollar rebounded just now, and is up over .94 CDN. I doubt it'll beat the Canadian dollar before the end of the year though.

The dollar's fall should continue long term for at least another year or two BRTD.  Though a real Democratic regime could reverse that.