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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 10/23/2009 : 15:01:56
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---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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CopperPenny
Penny Sorter Member
33 Posts |
Posted - 10/23/2009 : 20:58:21
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Over hyped numbers usually tend to indicate someone is over hyping their point. Now here are the actual numbers for the past eight weeks. Please show me where he is even close to the dollar dropping 5% a week.
08/28 78.3
09/04 78.2 -.1%
09/11 76.7 -1.9%
09/18 76.48 -.29%
09/25 76.71 +.3%
10/02 77.03 +.4%
10/09 76.39 -.8%
10/16 75.57 -1.%
10.23 75.44 -.17% |
Edited by - CopperPenny on 10/23/2009 21:00:09 |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 10/28/2009 : 13:11:16
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| Schiff gets a little excited when he rants, doesn't he? He believes fervently in what he speaks about, so I'll forgive him the hyperbole regarding the 5%, probably meant it as more of a figure of speech, exaggeration to emhasize his point. Few people are going to lift their heads from the sand if he cautions "the dollar dropped .1% last week and could continue to do so next." I'd rather have someone in Congress with Paul that has his economic grounding than the bunch we have now. Not that they can do any good, but it's a start. Thanks for posting the link, Country |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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Gresham
Penny Pincher Member
184 Posts |
Posted - 10/29/2009 : 13:13:55
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I first thought maybe he said 0.5 percent, but its 5%. Does anyone know the date he is speaking of? Maybe he is comparing the dollar to some other index or has some other dates in mind. When was this published?
0.5 percent a week works out to be over 25% a year, which is still pretty bad if it keeps up for awhile. |
Edited by - Gresham on 10/29/2009 13:32:33 |
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jonflyfish
Penny Hoarding Member
USA
693 Posts |
Posted - 10/29/2009 : 15:01:59
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29.61% or so annually if you determine that it is exactly .5% every month (which will never happen)
Many are Peter Schiff critics.
He almost always has the last laugh though.
Cheers |
The first panacea for a mismanaged nation is inflation of the currency; second is war. Both bring a temporary (and false) prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunities. |
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Peter Schiff: Get Out of The USDollar!
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