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Oct. 19, 2009 When Barack Obama took office as President of the United States on January 20, 2009, the US dollar was worth 75.4 Euro-cents. As of October 19, 2009, it is worth 67.1 Euro-cents, which amounts to a difference of 8.4 Euro-cents in 273 days. Using simple arithmetic, we may calculate the quantity ((365/273) x 8.4), to see that this equals an annualized rate of minus11.23%. These figures come from www.oanda.com's interactive table, which can he accessed here: http://www.oanda.com/convert/fxhistory To see the applicable figures, type 01/20/09 and 10/19/09 in the boxes labeled Starting Date and Ending Date. Then click on Get Table, and a day-by-day history of that exchange rate will appear. This is not the only time the dollar has dipped so low. There were several times during the George W. Bush presidency when 3 dollars made 2 Euros. But in my opinion, this attrition may bode ill for the future of the dollar, the US economy and the US nation. If the decline in the value of the dollar vis-a-vis the Euro should continue at the same rate, next year at this time, the dollar would be worth 59.6 Euro-cents, in two years 52.9 Euro-cents, in three years 46.9 Euro-cents, and so forth and so on. My opinion of Barack Obama is that he is a smooth-talking empty-headed motormouth who has no real strategy for correcting this trend, and though the situation may improve, because of or in spite of his actions, it is equally possible that it won't, which is why some countries are already dumping the dollar as the currency of their international trade. Barack Obama won the presidency in the same way in which he won the Nobel Prize. There are many people who feel that it is a badge of enlightenment to show that they will vote for a black man when in bygone days and even today, in many circles, his being black would be enough to prevent his rise. This may be a fine gesture, but on the other hand, being black is not enough, and it would appear so far that Barack Obama may not have what it takes to bring the recession to heel. I hope that all these would-be oracles of enlightenment will not have to learn the hard way that their choice was ill-conceived, as America falls apart in Obama's hands. Igor Panarin, a Russian professor who predicts that the US will collapse in 2010, in comparing Obama to Gorbachev, who presided the collapse of the USSR, says of Obama, "Obama was just a social worker. His mentality was totally different. He's a nice person and talks nicely--but he's not a leader and will take America to a crash. When Americans understand that--it will be like a bomb explosion." Let's pray Professor Panarin is wrong. ------------ About the author Thomas Keyes: I have written two books: A SOJOURN IN ASIA (non-fiction) and A TALE OF UNG (fiction), neither published so far. I have studied languages for years and traveled extensively on five continents. Visit my website here. Email: udikeyes@yahoo.com Comment on this article here! 
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