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Feeling the $ Pinch?
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MindTraveller



Joined: 13 Mar 2003
Posts: 89
Location: Oman

PostPosted: Tue Feb 17, 2004 5:01 pm    Post subject: Reply with quote

When I was younger and rather naive, I got off a plane in London, UK, and my US dollars where halved - the dollar to the pound in 1980 was $2.40! I got an illegal job as a temporary secretary and enjoyed that part of my holiday more than any other.

Then in France, in 1985, the franc to the dollar was 9! Things were cheap.

I keep wondering how Japan does it - not falling apart - despite not making any changes. Germany and, was it France or Italy, didn't keep their part of the EU bargain and their debt % of their GNP went up. Since the EU is going to 'absorb' I think it's something like 10-14 East European countries this year, the Euro will probably go down - in a year or two.

I look at the price of gold. It's now about $400 an ounce. It's HIGH. It's gone up about $150 just the past two years.

Europe is going to suffer greatly since many countries depend on tourism for their GNP. The USA will benefit with lots of tourists..... so the pendelum swings both ways......
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Cleopatra



Joined: 28 Jun 2003
Posts: 3657
Location: Tuamago Archipelago

PostPosted: Tue Feb 17, 2004 7:08 pm    Post subject: Reply with quote

As we speak, the Euro is rapidly heading for $1.30 and the pound for $1.90.

Where will it end?
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scot47



Joined: 10 Jan 2003
Posts: 15329

PostPosted: Wed Feb 18, 2004 3:23 am    Post subject: Reply with quote

it certainly makes it more difficult in the ME for anyone whose residence is in a non-$ dollar zone.

Noy just Euro and pound. I hear the Aus$ was 2 SR but is now 3 SR !

Wow !
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Mark100



Joined: 05 Feb 2003
Posts: 441

PostPosted: Wed Feb 18, 2004 4:06 am    Post subject: Reply with quote

scot47
Did you have to remind me about the Aussie dollar?
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Gordon



Joined: 28 Jan 2003
Posts: 5309
Location: Japan

PostPosted: Wed Feb 18, 2004 4:15 am    Post subject: Reply with quote

Now that I will be starting a masters with an Aussie university, they have to have their currency at an all time high. I have the worst timing.
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