Posts Tagged ‘gold’

Strength of the Dollar

Wednesday, February 18th, 2009

Contrary to what many people seem to think, and especially promoted by the companies trying to scare people into buying gold – the US dollar has  been getting stronger, not “falling”.

Back before this global panic started, it took about $1.28 to buy one Euro (the most important benchmark currency).  When the panic started breaking out, the US dollar got up to about $1.45 to buy one Euro, but it didn’t stay there very long.  As of today, the dollar is back to $1.25 for a Euro.  While the dollar may decline in the future, for now the world continues to believe that the US is the safest place to weather this storm.