Quote:
Originally Posted by diesel_john
So your are saying.
37% decline in the $
$122*.37=$45 of the per barrel price increase is due to devaluation of the dollar.
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That is very likely but 37% may not be the right number. The US$ moved 37% against the Cdn$ in the last 8 years but that is only one currency. What did it do against the AUS$, Yen, Rouple, Euro, Indian Rupy, Chinese? etc.
The point was that the US$ was over valued for a long time and the U.S. got a discount on international goods that is now gone. That 37% decline is not due to printing money as every western government prints money as well.