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BassetMan
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PostSubject: Re: Currency Exchange   Sun Jun 14, 2009 7:27 pm

oxys right.. its simple math... unless u failed it.. lol..

US money is gunna plummet in value soon.. all the loans and stimuluses lately..

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canadianstorm_12
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PostSubject: Re: Currency Exchange   Sun Jun 14, 2009 10:20 pm

Oxydizer wrote:
but you also have to remember that if the entirety of canada used the british pound, it would be lessened dramatically in its worth because of the fact that there are how many more people in canada and that the gold that backs the pound would be the same amount, but for far more people.

It wouldnt be lessend at all. It would be stronger. If the Uk, Canada and Australian Pound was acually a currency then it would be a strong currency. Look at the EU. Theres how many countries useing it, thats why its so strong.

And Basset the USA dollar has plumeted. I mean even our dollar is competeing with your alot and that jsut doesnt happen really. Ours was worth $0.95US the other day. Its like $0.91US now though. The US dollar is gone its the British Pound and the Euro now.

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Darren1
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PostSubject: Re: Currency Exchange   Mon Jun 15, 2009 1:01 am

Kong Harald 6. wrote:
Oxydizer wrote:
not really. it would probably be worth the exact same.

see the dollar (or any other paper form of money) is based on, and backed by the amount of gold the country holds.

however the fact that any country makes its citizens use a currency based off of trust is another thing.
I don't think it's like that anymore. I\'m Seriously shock

Darren : 1.00 USD = 1.22805 AUD Which means that the US dollar is more worth than the Australian. Wink

Check again, everything in Aus is pointing to our dollar being worth 80US cents Razz

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Kong Harald 6.
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PostSubject: Re: Currency Exchange   Mon Jun 15, 2009 1:02 pm

For Darren. Smile
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Oxydizer
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PostSubject: Re: Currency Exchange   Mon Jun 15, 2009 6:15 pm

let's take a history lessen:

in the 1980's the philipines had the filipino peso, which was worth 1/2 of the U.S. dollar. the president of the philipines, named juan marcos, decided that he was going to print more than enough money, just so his wife could go out and buy jewelry. this exces of paper money made they filipino peso drop from 1/2 equivelency to 1/30. so now because of fear and too much paper moeny floating around, the filipino peso exchange rate is 1U.S. dollar= 30 filipino pesos.

another historical relevence was the german mark before and during WWII. people worked for a week to make say 1000 marks, then thier government decided to dramatically increase paper money. so the price of a loaf of bread skyrocketed from 5 marks to nearly 10THOUSAND marks in just months.

the thing is, yes the Euro and pound are worth more, but that is simply because they have enough gold to back it, and they do not over produce paper money.

now the thing is that if canada, australia and G.B. all used the pound, it could be worth alot more, but you have to remember that the pound is worth more than the U.S. dollar, but the canadian and australian dollar are not worth the same, but less than the U.S. dollar. i don't know the math but i think that if all three nations used the same currency, i think it would drop the pound by 30-40% in its equivalency.
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canadianstorm_12
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PostSubject: Re: Currency Exchange   Mon Jun 15, 2009 10:09 pm

I dont think so and who said they were going to just give away and mass produce money? Money would still be produced the same way its always been and all of the countries were talking about are among the richest in the world.

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Oxydizer
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PostSubject: Re: Currency Exchange   Tue Jun 16, 2009 1:06 am

the reason as to why they would start printing more money is because the amount of people is more, if you kept the same amount of paper for this new group of people, you would be lucky if you saw a paper pound ever.

so they would have to make more paper money, which would lead to inflation, which would effectively lower the amount of money the pound is worth.
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canadianstorm_12
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PostSubject: Re: Currency Exchange   Tue Jun 16, 2009 2:31 pm

It wouldnt lead to inflation, you only produce whats needed, they wont mass produce money, so why hasnt the Euro hit rock bottom yet? How ma ny milions of people use that? They must just produce so much of it. Basscily your saying if alot of people use a certain currency its not going to be worth anything. So the USAdollar, the RussiaRuble, the JapaneseYen are all worth nothing becasue theres hundreds of millions of people useing them.

I know what your saying but your not seeing that just because theres a large population there money will bottom out.

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BassetMan
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PostSubject: Re: Currency Exchange   Tue Jun 16, 2009 3:19 pm

yea oxy.. say u have $1 for every person and theres 1 mil people

ok all of sudden you have 5 mil people... u print 4 million more dollars and your money is worth the exact same thing

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Oxydizer
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PostSubject: Re: Currency Exchange   Tue Jun 16, 2009 7:52 pm

but the fact of the matter is, how many millionare or billionares are there?

you can't have 5million doller for 5 million people, if 30 of those people have 2 of those said dollars. that would leave 60 people without money at all.

thats why countries have to print more and more dailey, but they do however buy gold, and sell it.

but the thing about the euro is that, yes it is a single currency for all of europe, but all of those countries still ahve thier own currency that is still available and still used. and until those coutries disolve thier different currencies, the euro will not see the hard times most other countries have faced with thier own money.
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canadianstorm_12
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PostSubject: Re: Currency Exchange   Tue Jun 16, 2009 9:59 pm

Your wrong, the Euro is not used by every country only countries that have joined the EU and they dont use there old currencies anymore once there in the EU.

What you are implying is that if theres a large population you will have inflation. Well look at the USA they have the most billionaires in the world and there money is still what people compare everything to. Russia has the second amount of billionaires and there money isnt worth nothing. You just dont understand that nations would be stupid enough to mass produce money and you saying so is implying that these 3 specific nations were talking about are stupid enough to mass produce money. Other countries havnt done it why would these ones start now?

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BassetMan
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PostSubject: Re: Currency Exchange   Wed Jun 17, 2009 6:21 pm

Oxydizer wrote:
but the fact of the matter is, how many millionare or billionares are there?

you can't have 5million doller for 5 million people, if 30 of those people have 2 of those said dollars. that would leave 60 people without money at all.

thats why countries have to print more and more dailey, but they do however buy gold, and sell it.

but the thing about the euro is that, yes it is a single currency for all of europe, but all of those countries still ahve thier own currency that is still available and still used. and until those coutries disolve thier different currencies, the euro will not see the hard times most other countries have faced with thier own money.

oxy it was an example.. if theres 100$ for every person.. ok so now there HAS to be rich and poor and in between people cuz thts just how things work in this world. so some people have less some people have more.. i wasnt implying tht half the people wouldnt hav money xD

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canadianstorm_12
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PostSubject: Re: Currency Exchange   Mon Nov 30, 2009 3:09 am

Time for an update!

US= American, AUS=Australian, CAN=Canada, NOR=Norway.

1 US Dollar=1.08970 AUS Dollars
1 US Dollar=1.05571 CAN Dollars
1 US Dollar=4.94047 NOR Krones

1 CAN Dollar=0.947525 US Dollars
1 CAN Dollar= 1.03197 AUS Dollars
1 CAN Dollar=4.68064 NOR Krones

1 AUS Dollar= 4.53547 NOR Krones
1 AUS Dollar=0.918119 US Dollars
1 AUS Dollar= 0.968894 CAN Dollars

1 NOR Krone= 0.220494 AUS Dollars
1 NOR Krone= 0.202404 US Dollars
1 NOR Krone= 0.213618 CAN Dollars

So now from seeing the update we can tell that every currency has made gains since last time this was posted except the USDollar and we can see that Norways money still isnt worth much. Razz

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Kong Harald 6.
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PostSubject: Re: Currency Exchange   Mon Nov 30, 2009 1:34 pm

Pfft. Very Happy

By the way, it's "NOK" Norwegian Kroner. Smile
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canadianstorm_12
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PostSubject: Re: Currency Exchange   Tue Dec 01, 2009 5:15 am

Yea I noticed when I went through them but just left it this way and for Canada its CAD not CAN so I just left them all although the Kroner made alot of gains.

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