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Poor and StupidHow big government, big business, big media and big academia block your road to financial freedom- and tell you it's for your own good. |
Who Says The Dollar Is Weak?
Posted on 10/19/2007 03:36 AM | Link | Post Comment
Our monetary affairs correspondent "Irrational Exuberance" notes that the dollar is, in fact, quite strong:
...a big jump in the U.S. dollar's exchange rate against the Zimbabwe dollar. "People are asking for a million and getting it in big bank-to-bank transfers," one dealer said. "Cash for cash is anything above 750,000 to one." Just a few days ago, in the first week of October, 520,000 Zimbabwe dollars were needed to buy $1 on the black market. The rate was 400,000 for one in mid-September. "There's too little foreign exchange out there and too many chasing it," said the dealer...
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