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Thursday //18November2004 - 10:00 (UTC) 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.
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