|
PureBytes Links
Trading Reference Links
|
Don't think so, can't imagine South American drug cartels, African
dictators,Arabian oil Sheiks, Russian Mafia and Asian despots going for
Euro instead of US dollar. This is an important concept for you Americans
to ponder and thankful for (or your overprinting of money would have
hyperinflated you to death a long time ago according to your doomsayers
and gold bugs). The multinationals and local banks who accomodate the
capital flight of these foreigners in their own specific countries take
advantage by charging them an exorbitant rate to convert from local money
to US currency. (money laundry). US currency is the most convertible in
the world, a very basic need for scared or sanctuary money. Currency
rates IMHO are largely dictated by these banks (these are the so called
"market forces" ) first and Central banks (or your infamous Federal
Reserve) are secondary who just reacted with interest rates adjusting to
the delight of the banks who just slice or scalp on this money flow all
the way to the , aahhh .... themselves !!!
Notice no European (country) currency is mentioned because not too much
capital flight from them.
Big picture is, Us compared to Europe is still high growth rate (New
world?)compared to mature European economies who also has old Eastern
Europe a major burden for the next few decades.(Mexican problems is
marginal compared to, for example Russia's.)
Cliff Scheller wrote:
> Since you are building this for the future, don't forget the impact of
> the Euro itself, which may indeed vault itself into a premier if not
> the top world reserve currency, the way things seem to be going.
>
|