sure -- in dollars. ask a Turk if he would rather have been holding gold or turkish lira during the same period: XAU/TRL: 01/01/1997 39879955.0 01/01/2005 601041034.0 and it gets much uglier the further you go back. I agree with you that the "always hold gold" theory of the alarmist end-is-near types has been a loser for americans, but if things go wrong, they can go very wrong....
How does a devalued dollar benefit anyone, especially traders who depend on liquid dollar assets as their stock in trade?
Devalued dollar makes US labor, goods and services more competitive vs. China. Allows the US to fill the role of a 'middleman' more easily.
Just another form of socialism, to devalue the dollar assets of those productive members of society. Another form of dishonest tax.
it benefits borrowers, i.e., governments and corporations. and indirectly, the banks of course. at the expense of savers and lenders - it destroys the value of savings generated by earnings of people that save wealth in fiat currency. conveniently, there seems to be less and less of them in the public.
Finally a mainstream article about the M3. Yet another conspiracy theory debunked. I guess the author must be in on it too! Better get a head start to the bomb shelter. http://quote.bloomberg.com/apps/news?pid=10000039&cid=baum&sid=abJD2CVu7kHk
In my opinion, the article and concluding sentence misses the point of the value of having good monetary data. "Good point. Don't let reason interfere with a good conspiracy theory." M3 has been used by those following it as a gauge inflationary pressure on the dollar and in determining the devaluation trend of the dollar. The article further quotes Robert Mchugh under the heading of "Conspiracy Perps." Let me assure you that Mr Mchugh does not speak for all those that are concerned that this move to discontinue M3 may set the stage for further expansion of the money supply while keeping the public uniformed. The article would have been more valuable to me if it had discussed in depth, the economic merits and the pros and cons of the usefulness of M3 as an economic gauge. Mike
the fact that she's writing about it at least suggests that "somebody" looked at it. the idea that saving $1.5M a year motivates any US government decision is absurd.
I agree totally. Who could actually believe the government would cancel the publishing of vital economic information that is widely used (at least in my experience) when the potential savings are not even a drop in the bucket, so to speak? It'll save us 2 minutes of debt. <!-- start zFacts Gas Gizmo --><table id="zDebtBox"><tr><td><script type="text/javascript" src="http://www.zfacts.com/giz/G05/debt.js"></script></td></tr> <tr><td><a href="http://zfacts.com/p/461.html" id='zF05' style="color:black;font-size:12px">The Gross National Debt</a></td></tr></table> <!-- end gizmo -->