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Tuesday, March 01, 2005
Time to buy gold?
According to Yahoo! Finance, Asian central bank and finance officials met quietly here this week to discuss ways to stabilize foreign exchange markets as currencies around the region surged against the U.S. dollar, some to multi-year highs.Why is it so difficult for U.S. citizens to figure out that if you reduce taxes and increase spending on defense, the deficit will grow and the value of the dollar will drop. According to the Federal Reserve, the value is currently at an historical low, down to 81.88 from a high of 109.59 in July 2001, around the time that our friend George Bush came into office. Here is what the data look like as a chart, from 1973 to the present: 
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