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Sunday, January 18, 2015

US Economy - Dollar hits an 11-year high

In other words, gold is for jewelry!

I don't understand people who want to return to using the value of gold as the standard for currency.

Gold doesn't support people to share wealth. Rather, gold is hoarded and only the people who have it can become wealthy. Meanwhile, The Wall Street Journal, reports how investors are bullish for the U.S. dollar. With growing confidence, the U.S. dollar becomes the standard economists measure their own currency against. Ira Iosebashvili and Ian Talley reported how the dollar reached it's highest level against major currencies since September 2003! This is a sign that investors believe the U.S. economy will continue to grow this year; but, that the Federal Reserve will raise interest rates for the first time in nearly a decade.  A stronger greenback could spell trouble for U.S. exports, since it forces foreign consumers to pay more for U.S. products.  

But, it also "fuels U.S. stocks and bond markets" and makes it cheaper for Americans to travel abroad.  

Well, maybe the dollar will make travel abroad cheaper for Americans, but the current security risk of going to Europe might make travel to Asia much more desirable.  

Nevertheless, under President Obama's leadership, the nation has risen up from the depth of a Great Economic Recession in 2007, to economic prosperity.  

Americans must make use of those wonderful U.S. dollars, to spread the wealth. We should provide economic security to those who need increases in the minimum wage. We have a social obligation to protect important social safety nets for hard working citizens who worked for, and deserve Social Security and health care. It's the capitalistic theory of growing wealth by sharing it with those who need a helping hand. As the U.S. dollar becomes increasingly strong, Americans have the privilege to share the wealth in the humanitarian capitalistic way.

Let's give everyone the opportunity to become wealthy enough to buy gold for jewelry!

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Blogger Juliana L'Heureux said...

Thank you Kathy from North Carolina who sent this email comment:
"No fear, there isn't enough gold in the world to go back on the gold standard. Gold is just another investment tool in the quest to make money. The delicate import export dance always needs fine tuning. Foreign consumers paying more for US goods is not necessarily bad. It would bring more money into our economy. Congress would just have to make sure that our tariffs keep the in/out flow of goods balanced. Unfortunately capitalism more often tends to breed greed rather than sharing wealth with others. When our political leaders choose to ignore the social needs of its people for the sake of business then it's time to clean house. Hopefully the "common man" will help with this cleanup when it's time to vote in 2016."

5:02 AM  

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