MacHamish wrote:
> On Thu, 25 Nov 2004 10:49:24 -0700, "John P. Mullen" <jomullen@zianet.com>
> wrote:
> 
> 
>>MacHamish wrote:
>>
>>
>>>On Tue, 23 Nov 2004 19:15:06 -0700, "John P. Mullen" <jomullen@zianet.com>
>>>wrote:
>>>
>>>
>>>
>>>>Rykk wrote:
>>>>
>>>>
>>>>>>in article 41a29357$0$24335$a8266bb1@news.titannews.com, Ian Smith at
>>>>>>ianinhoose@btinternet.naespam.com wrote on 11/23/04 10:47 AM:
>>>>>
>>>>>
>>>>>>> The entire world (the other 94%) doesn't have to use dollars, and
>>>>>>>it certainly wouldn't be the end if the dollar collapsed. The people
>>>>>>>of America should realise this. However, I'm not anti-American, and I
>>>>>>>continue to buy their products/services. They have achieved much, and
>>>>>>>many can learn from them. It doesn't make them perfect, though. The
>>>>>>>question is, can they/are they willing to learn from the rest of the
>>>>>>>world?
>>>>>
>>>>>
>>>>>As I said.  Many countries currencies are Pegged to the dollar.  That 
>>>>>means for every point the dollar goes up or down, that countries 
>>>>>currency goes up or down automatically by the ratio they pegged thier 
>>>>>currency at.
>>>>>
>>>>>If you don't think a depression in the US will lead to a depression 
>>>>>everywhere else.  Read more history.
>>>>>
>>>>>The US is a significant percentage of the World Economy.  Other 
>>>>>countries with large Economies, Such as Japan have a significant amount 
>>>>>of their economy invested in the US.  Hurting the US hurts these 
>>>>>countries.  Ruining the US economy won't be be the end of the world.  
>>>>>But then again.  Neither is drinking from the toilet.  You just won't 
>>>>>feel very good afterward.
>>>>>
>>>>>Rykk
>>>>
>>>>
>>>>Interesting theory, but no relation to facts.
>>>>
>>>>Here are some facts
>>>>
>>>>http://www.x-rates.com/d/EUR/USD/graph120.html
>>>>
>>>>It seems like nobody tracks to the USD.  It also seems the USD is 
>>>>falling with respect to most currencies.
>>>>
>>>>John Mullen
>>>
>>>
>>>Chinese Yuan.
>>>
>>>http://www.x-rates.com/d/CNY/USD/graph120.html
>>>
>>>MacHamish M$(D??(Br
>>
>>The need to adjust the Chinese Yuan exchange rate
>>
>>http://english.epochtimes.com/news/4-11-4/24165.html
> 
> 
> Yes.  So?  This article proves your statement above wrong.  There is at
> least one other currency that tracks the USD.
> 
> How about the Qatari Rial
> http://www.x-rates.com/d/QAR/USD/graph120.html
> The Omani Rial
> http://www.x-rates.com/d/OMR/USD/graph120.html
> The Saudi Riyal
> http://www.x-rates.com/d/SAR/USD/graph120.html
> 
> ISTM, those flat graphs indicate that the currencies are pegged to (track)
> the US Dollar.
> 
> QED.
> 
> 
> MacHamish M$(D??(Br


Big whoop.

The dollar going crosswise with the Euro is something to worry about. 
The countries that have pegged currencies, except for China, would have 
no power to stabilize the USD and, as I pointed out above, China may 
unpeg soon.

You argued that the countries with pegged currencies would take action 
to keep the USD up, but there is no reason to expect such a thing. 
Those countries currently pegging their own currency against the USD 
will either find a more stable currency or go along for the ride.

You certainly provided no credible evidence to support your claim.

John Mullen