Iranian President Mahmoud Ahmadinejad has called the US dollar "a worthless piece of paper." What are your thoughts on this? A link to the story is in my answer below.
by 
Doggie S
ANSWERS: 9
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http://news.bbc.co.uk/2/hi/americas/7101050.stm
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I'd tell him come walk in my shoes and live the life of a freshman college student and see how much that dollar is worth to him then.
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Unfortunatly, right now he is kind of right. While it is not worthless as he puts it, it is fast becoming one of the weakest currencies in the first world. A few years ago I travelled to NYC and got an exchange rate of about 1.3 dollars to the pound, now its up at (and even over, depending on where you get it!) 2.0. The same can be said for the Norwegian Korne, a few years ago it was about 15 to 1 now it is down to 5 to one and there has only been a slight deviation in the rate between NKr and the £. I will repeat for any trolls that do not read all of this. He was incorrect, but not a million miles from the truth.
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I would not give much value to anything that that President Ahmadinejad says. His view of how the world works is very different from mine. Yes, the dollar has been falling. And part of the reason for the dollar price of oil rising is precisely to compensate for this. As long as the dollar doesn't change its value much in the period between oil being purchased and delivered - typically a month or two - the actual value of the dollar is irrelevant. Those who trade in oil are far too sophisticated to take the simple minded view that Ahmadinejad does. Money has never had an absolute value, and traders are aware of this even if he isn't. There are problems with the dollar falling, but they are for the US, not other countries.
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It is in Iran but I bet if you offered him a large number of the worthless paper he would soon recycle it into his Swiss bank account. Which is a privilege his people probably do not have!
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I believe that this man is full of hot air and understands he can upset the status-quo with words.
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The US is deep into the world market. What happens to the world market affects the dollar. World leaders unfortunatly have some control over the dollar because they have some control over the market. Many of us were against such things as NAFTA. Many labor unions were against NAFTA. They all said it would devalue the dollar in the long term, and cost Americans jobs in the short term.
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All money printed on paper is worthless, whether that be dollars, dinars, euro's, pounds, or yen. As the native american indians once said, "Only when the last tree has died, the last river has been poisoned, and the last fish caught, will the white man realise he cannot eat money."
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To me the US dollar is becoming a worthless piece of paper. Our economy is not that great right now. And, the Canadian currency is now worth more than ours. The US dollar will, with time, have less and less value. Essentially, all (paper) money is 'a worthless piece of paper'. The only reason why we care about it so much is because it is one of our means for survival in life, and that we gave it meaning.
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