mohit | Shared With: Everyone - Apr 30 2008 | iran, OPEC, Mahmoud Ahmadinejad, news, dollar, oil
Quoted: Iran, OPEC's second-largest producer, has stopped conducting oil transactions in U.S. dollars, a top Oil Ministry official said Wednesday, in a concerted attempt to reduce reliance on Washington at a time of tension over Tehran's nuclear program and suspected involvement in Iraq.
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mohit | Shared With: Everyone - Dec 05 2007 | news, india, rupee, finance, dollar
I am planning an India trip in late January and have noticed that things are definitely more expensive (when you convert to dollars at least) than they were on my last trip.
Quoted: The rupee was worth 39.32 to the dollar in trading on Wednesday, maintaining a trend which has seen it rise 12% against its US counterpart this year.
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- mike - Sep 20 2007
- derek - Sep 20 2007
- tigerexotique - Sep 20 2007
- mike - Sep 20 2007
You must be Mohit's friend before you can comment on this Fave.I would think this is due to the Bush economic policy.
- Run-away deficit spending
- Continuation of an expensive (and unpopular) war
- Implementation of massive tax cuts (even in light of the above)
What you thought was a dollar, is now devalued some 30% from when Bush first took office. This represents a hidden tax on all Americans.
Also look at what's happening to the price of Gold.
http://goldprice.org/gold-price-history.html#5_year_gold_price
In Oct 2000, gold was under $300/ounce. Today - it's climbed to over $700. That more than doubling in under 7 years represents an annual price inflation of over 10% (though most of this increase has hit us since 2005).
When Bush questioned the tax cuts, Cheney chanted "stick to principles", but they've only got it half right. These "principles" say cut taxes AND cut spending. Instead, they've cut taxes and massively, MASSIVELY increased spending. Cheney says deficits don't matter, and focuses only on its positive impact on exports.
Real conservatives should be as fed up with this administration as the smelly hippie libs.
man i miss the days of Can$ .65 to US$1.00---that was the best part of going to BC as a freshman and sophomore in college.
@derek - hippies are smelly?
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