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Reply #14: Here's another chart which makes the point. [View All]

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girl gone mad Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-24-11 11:29 PM
Response to Reply #5
14. Here's another chart which makes the point.
Edited on Sun Apr-24-11 11:32 PM by girl gone mad
courtesy of Doug Short:



The long decline in value of the dollar vs. gold corresponds well with the enactment of the Bush tax cuts (in 2001 & 2003), but not so well with QE1 (11/2008) or QE2 (11/2010). The spikes in the dollar in 2008 and 2010 are related to a flight to safety resulting from the PIIGS crises.

See how the value of the dollar rose in the mid-90s under Clinton? Interest rates were very low during those years, too. So what was different? Higher tax rates on the rich = less money available to invest in speculative assets, for one. The dollar also rose against most foreign currencies over that time period. The government taxes money out of existence, a tool which provides stability to fiat currency.
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