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Old October 24th, 2008, 21:33   #43
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Originally Posted by Koopa View Post
All currencies but USD are down. This just goes to show you who has the real money in the world and who's the boss. Not China, Russia or India
Doesn't really show you anything depending on how the currency's worth is determined. The world agreed after the elimination of the gold standard that the world would turn to the US to offer it's currency as the new standard. Although that system has passed as well the current "no real system" is still somewhat loosely based off of that because of the way country's have acted with their foreign currency reserves. There is a reason why China has billions if not trillions of US currency stashed away in it's vaults. At world economic crisis times like these although some speculative people who predict that doomsday is coming will be dashing to buy up as much gold as possible, the more modern thinkers will still value the US dollar as the international standard of today. Either way, the HKD is actually up against the US but that means absolutely nothing hehe
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