Me and my wife went to China recently last summer for 3 months. The exchange rate was 1 US Dollar = 7.5 RMB and we thought that was pretty significant since only a year ago it was 1 USD = 8.5 RMB. Now I see based on the latest exchange rate that 1 USD = 6.99 RMB. I also see where the American dollar is dropping against the Euro, Japanese Yen, and even the Canadian dollar, my question is why? Why do you think the US Dollar is dropping so hard so fast, is it because of americans spending way too much money, the war in Iraq, oil, and outsourcing? Why do you think the US Dollar is falling and do you think this trend will continue and what is the result if the dollar keeps falling?
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May 26th, 2008 at 10:57 am
In a nutshell, as long as the U. S Government continues to print money like crazy to cover its debts, then the dollar will keep falling. Big government knows nothing but spend, spend, spend. And if either Hillary or Obama is elected president, it will only get bigger. And for that matter, it may very well do the same under McCain…