Catholic Info

Traditional Catholic Faith => The Greater Depression - Chapter I => Topic started by: Matthew on September 20, 2007, 08:51:43 AM

Title: US Dollar down to mid 78's -- a new low!
Post by: Matthew on September 20, 2007, 08:51:43 AM

Look at the chart of where the dollar has been.

Guess where it's heading?

Title: US Dollar down to mid 78's -- a new low!
Post by: Matthew on September 20, 2007, 08:54:43 AM

They really need to print a bill larger than $100 -- because $100 today is what $50 was just 5 years ago -- I kid you not.

For that matter, the FDIC 100,000 limit needs to be raised (not that it affects me...hahaha) because you can barely buy a 3 bedroom house in a decent (not ritzy, but not slums) neighborhood for that -- in a cheap market like Texas.

5 years ago, that would buy a NICE house in the same market.

Matthew

Title: US Dollar down to mid 78's -- a new low!
Post by: Dennis from Oregon on September 20, 2007, 10:42:06 PM

The FDIC only has a 50 billion dollar funding, in a market with some 400 something trillions that are in danger of melting...

Of course these hedges and derivitives arent insured, but there is not enough funding to do more that plug a little leak or cover a minor bank failure.  In a widespread banking collapse its all but meaningless..