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The Euro... question?

turboturbo Member Posts: 820 ✭✭✭✭
edited January 2002 in General Discussion
I went to see the movie "A Beautiful Mind", based on a true story of a world renown (hope thats spelled right) physicist Joe Nash, Nobel Laureate 1994.He developed, solved an equation he entitled "Equilibrium" , and published it in Econometrica in 1950 a leading journal of mathematical economics, thereby establishing the "Theory of Governing Dynamics", and by doing this he affected global economics, biology and the social sciences.It's interesting that this film was released days before the EURO currency went into effect in europe.Our own currency standards have been shaped by this theory, and is one of the primary reason why we no longer use the Gold standard.Some of you are aware, that most all other nations, use our US dollar as the standard by which they value their currency.I have been trying to determine, looked high and low, if the new EURO is based on some other standard, other than the US dollar? Does anyone KNOW?As some might know the EURO originally came out in January 2000, and was valued slightly higher than the US dollar, but when compared to the dollar on January 1, 2002 ,it showed a value of $1.12 to the $1.00 US bill.Thank You for any information on this subject.PS It's a good clean Movie, would recomend it to young and old alike.
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    pops401pops401 Member Posts: 616 ✭✭✭✭
    edited November -1
    CNN said the value of the EURO was $.88 US
    I'll buy just one more gun and I'll quit.....HONEST....History is a vast early warning system
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    turboturbo Member Posts: 820 ✭✭✭✭
    edited November -1
    pops401,Your right, yesterday you could have purchased one euro for .88 america money. This morning it will cost you .90 cents.This currency circulated for awhile in 2000 with other national currencies pegged to it at fixed rates, but abruptly ceased to be traded after taking a plunge of about 25% against the US dollar.[This message has been edited by turbo (edited 01-03-2002).]
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    competentonecompetentone Member Posts: 4,698 ✭✭✭
    edited November -1
    turbo,Regarding the Euro and all the fiat currencies in this corrupt world:Two words of advice: BUY GOLD.
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    turboturbo Member Posts: 820 ✭✭✭✭
    edited November -1
    I'm not really interested in money, or any other types of investments. Before becoming a safety officer, I worked in the commercial banking profession, and I'll tell you gold/silver is just as susceptible to de valuation as any other commodity, besides there other precious metals that I would coinsider way before I would buy gold.What I find facisnating is that, our dollar is in essence worthless almost like a living fantasy, and only is worth what each denomenation displays, becuase all who work recognize it as a value and are willing to continue playing this game based on the theory I mentioned before.Think about it, people work all week long, for money, and are willing to continue doing so, as long as others will accept it for the goods people buy and need, and yet there is no foundation for this currency, the federal government is under no obligation to convert these bills and coins, for some other valuable commodity, should this currency flounder. At the sametime the Federal Government owes this countries investors, billions of dollars.It's going to be interesting to see how the competion of the european currency does against our s in this global marketplace.These countries didn't go to all the problem and expenses to join forces and anti up there resources to simply present the world another pretty coin to look at.
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    YankeeClipperYankeeClipper Member Posts: 669 ✭✭✭✭
    edited November -1
    seeing the people lined you to get their euro's reminds me of the movie depiction of the jews lines up at the death camps,and most recently the Americans lined up at the airline counters saying "Take my freedom and rights; just make it safe so I can fly"
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    simonbssimonbs Member Posts: 994 ✭
    edited November -1
    I think real estate is the best investment you can make. I try to trade all the "worthless" money I can for as much RE as I can.
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    concealedG36concealedG36 Member Posts: 3,566 ✭✭
    edited November -1
    My aunt and uncle (who live in Austria) mentioned to us in a Christmas letter that they were saddened to see their national currency (the Schilling) go away. Imagine if someday you were told that we would be switching from the dollar to the Amero. Ah, the inevitable change...G36
    Gun Control Disarms Victims, NOT Criminals
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