devaluation is inflation
derryb
Posts: 36,793 ✭✭✭✭✭
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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Liberty: Parent of Science & Industry
<< <i>yeah, that's going to hurt tourism industry there >>
wonder what it's doing to those that pay to store physical PMs there.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Yeah, I can change those Swiss Francs for you
Liberty: Parent of Science & Industry
<< <i>The Price Of A Big Mac Is Now $17.19 In Zurich
Got gold? >>
Except if you go to the Zurich McDonald's website, and translate with Google, the current menu shows a Big Mac for 6.50 Swiss Francs. That's $8.97, not $17.13
Of course, the guy that DerryB links to gives absolutely no proof of his claim.
Link
<< <i>
<< <i>The Price Of A Big Mac Is Now $17.19 In Zurich
Got gold? >>
Except if you go to the Zurich McDonald's website, and translate with Google, the current menu shows a Big Mac for 6.50 Swiss Francs. That's $8.97, not $17.13
Of course, the guy that DerryB links to gives absolutely no proof of his claim.
Link >>
That's without cheese.
http://www.bigmacindex.org/2011-big-mac-index.html
link
Perhaps the $17 figure is the entire meal, Big Mac, large fries and a shake or large soda. Norway is even a bit higher than Switzerland. A friend went to visit Norway recently and confirmed that prices were ridiculously high, $50 per person for a modest meal out was typical.
From the table, I was surprised that Big Macs in Japan are now at parity with the U.S.
This thread with a relatively easy to verify claim, serves to demonstrate how bad some information sources can be. Be careful what you read. There is a ton of bad data, half-truths and worse on the Internet. I'd categorize this one as a half-truth because perhaps the entire Big Mac meal is $17. I've warned readers of bad information many times, but the links keep getting posted, the information quoted and parroted as if it were truth. Don't believe what you read. A lot of what is written is rumor or supposition based on faulty assumptions, often written by writers that have minimal knowledge on the subjects they are writing about.
There was a recent story about Wikipedia and the nature of information. The future may be much more like Big Brother because those in power can change all electronic editions of something with a push of a button. It is already happening on some news sites, stories get edited to fit the narrative, or to curry favor, with no mention of the edit. It is scary stuff.
From Scoop-it Countdown to Financial Armageddon
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<< <i>The Price Of A Big Mac Is Now $17.19 In Zurich
Got gold? >>
I've been stating this for years now. The world is too expensive. The best cure for high prices is high prices. They willl come CRASHING down.
A dozen eggs in Oslo is over $8.
Knowledge is the enemy of fear
<< <i>The woman are stll hot there. It will cost a lot more to date them now. MJ >>
don't you carry CFM samples you can give away instead of buying them dinner? the way to many a woman's heart is through their feet!
Box of 20
give me a Royal with Cheese
I have a very strict gun control policy: if there's a gun around, I want to be in control of it - Clint Eastwood
<< <i>Plowing into the Swiss Franc? Is is backed by gold or just another form of fiat. Its still paper and can be manipulated. I don't know enough about the swiss france though. Can someone enllghten me. >>
You know those chocolate candies wrapped in foil to look like coins? Well, those are Swiss Francs.
Knowledge is the enemy of fear
Generally meaning, "it's worth more in that place at that time than it is in that other place at that other time"?
In 1999 I paid 20 bucks with tip for the same drink in one place and time (a heineken in Paris fancy bar), and less than a dollar for the same drink in a different time and place (a heineken at a beach bar in Bolivia)
Why does the gasoline cost more in Maui or Yosemite valley or New York City or Baker, CA (gateway to Death Valley) than it does in Houston or Oklahoma City?
(PS, I never went back to that Paris place and tend to avoid other high price places, unless what else is going on there is "worth it" in paying the extra. It's voluntary.
Deflation of the massive asset bubble continues. I agree that high prices are their own best cure
Liberty: Parent of Science & Industry
<< <i>I've been stating this for years now. The world is too expensive. The best cure for high prices is high prices. They willl come CRASHING down.
A dozen eggs in Oslo is over $8. >>
Did Japan encounter deflation after it's crash? I know real estate price crashed, but its an island also.
In God We Trust.... all others pay in Gold and Silver!
over here. The job you save, might be your own.
Camelot
<< <i>Isn't the word for this, "Arbitrage"?
Generally meaning, "it's worth more in that place at that time than it is in that other place at that other time"?
In 1999 I paid 20 bucks with tip for the same drink in one place and time (a heineken in Paris fancy bar), and less than a dollar for the same drink in a different time and place (a heineken at a beach bar in Bolivia)
Why does the gasoline cost more in Maui or Yosemite valley or New York City or Baker, CA (gateway to Death Valley) than it does in Houston or Oklahoma City?
(PS, I never went back to that Paris place and tend to avoid other high price places, unless what else is going on there is "worth it" in paying the extra. It's voluntary.
Deflation of the massive asset bubble continues. I agree that high prices are their own best cure >>
Arbitrage is taking advantage of the price difference in different markets with near risk-free return. Say you bought a bunch of heinekens at a beach bar in bolivia and sold them outside a fancy paris bar a short time later. That would be arbitrage. You're examples are a little bit more macroeconomic.