Pages

Tuesday, 20 October 2009

SDR's and Dollars...............from Rico

A bit ago I gassed-on about how the USG had sub-rosa devalued its currency via the IMF SDR's (special drawing rights*).

Turns out, this was nothing especially new...just more of the same-old same-old.

On 31 Dec 2002, 1 USD= 0.7382 SDR
On 18 Oct 2009, 1 USD= 0.6280 SDR

Hmmmmm....that's a 15% decline in the Dollar from 2002 to 2009.
- Yeah, Bush was almost as big a shmuck as Obama is.

Anyone want to 'guess' what the Dollar's decline will be seven years hence?
- Hint: It will NOT be an increase.

*The value of an IMF SDR is based upon four currencies - The US Dollar, the Euro, the Japanese Yen, and the Pound Sterling.

No comments: