Re: Gold Soaring


"Bruce Remick" <remick@xxxxxxx> wrote in message
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"DG" <nospam@xxxxxxxxxxxxxxxx> wrote in message
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Bruce Remick wrote:

Not because the dollar is depreciating, but because the cost of living
usually rises.


What currency do you use?

The US$, of course. If the upward price of gold means the US dollar is
depreciating, why isn't that relative depreciation reflected in the prices
of everything else I buy.



My convoluted interpretation, maybe, but I've grown fond of
the dollar. I've been retired and getting annual cost of living raises
from the federal govt for ten years now. The wife gets annual Social
Security cost of living raises, too. During that period the prices of
gasoline, gold, etc. have fluctuated up and down. I blame supply and
demand, speculation, world events, etc. for the rise and fall, and don't
consider the dollar to have lost value in the US. However, were I to go
to
another country and change my $US into the local currency, I would
probably
take a hit compared to just a couple years ago. So I hold off doing that
and stay home. It's all in one's perception.


LOL... The US dollar is shifting away from being the world reserve
currency. Just because you choose not to understand does not make it
false.


When the exchange rate of the USA dollar drops all goods imported into the
USA are more expensive so how the USA dollar is regarded in the rest of thew
world does affect the buying power of your dollar when it comes to buying
imported goods.

Your statement would only be correct if you only buy goods made in the USA,
which I doubt very much is the case. Billy


How the US dollar is regarded in the rest of the world does not generally
affect what it buys me here in the US. I don't "choose not to understand"
the economics of it. Your statement that the dollar is shifting away from
being the world currency means nothing to me as it relates to my own
situation. Sounds like jargon out of a textbook.

All I'm saying that the relative $US value, along with consumer confidence
figures, bank failures, and all the other abstract indices that seem to
excite Wall Street have never had an affect on my personal financial
quality of life. Prices will continue to rise as long as I'm alive.
Salaries usually will rise, too, to keep pace. So call that dollar
depreciation if that's what it takes to get an A to pass the course. I
won't argue with you over semantics.

Bruce






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