JAPANESE Ballista royale

I'm amazed you'd be so foolish... I'm well aware that the british pound is about .66 (or .69) to 1 US dollar when it comes to exchange rates but there is more to the value of money than the rate of which it exchanges. To the business world the british pound is nothing and the US Dollar is everything. International banks tend to no longer pile gold in their vaults but US Dollars because it is worth more value in business transactions. If you really can't understand that.. then don't bother working in internation business as you won't get anywhere... atleast masa knows what I'm talking about but then again he's an Economics major so he knows this far better than I do and would know what I'm saying.
 
I am far from an economics major. Actually I hate that shit, but anyway..

Don't you have to also factor in how much an American makes per hour vs. How much a European Union worker makes per hour (thier productivity) ? LIke say an American worker makes an Average of $15 dollars an hour and a EU person makes like 5-9 Euros on average. Dosen't this also affect the power that a dollar has over a Euro? Also to factor in the average hours per week, or simply just pay per year?

I mean if this usa guy makes 15 dollars an hour and this EU guy makes 9 Euros that means the USA guy is still richer than the EU guy even though the Euro is more valueble than the dollar?

btw: I dunno if the numbers i'm using are for real or not just used random numbers I thought up.

Hope all that made sense this is why I hate economics. ><
 
Ele, people may not trade in pounds, but the fact of the matter is, what someone trades in is irrelevant. It's all about exchange rates and relatives. My man-hours of work can buy more dollars than your man-hours of work at the moment because our economy is slightly stronger at the moment.

Knowing an american economics major as I do, I know that he is immensely envious of our economy as it currently stands.

I don't say that out of some feeling that 'my countrie's better than your country'. I'ts simple fact at the moment. One of the main reasons why the UK has no current plans to join the Euro is that our economy is so strong at the moment, there's no point for us to do it.
 
Elemmire said:
I'm amazed you'd be so foolish... I'm well aware that the british pound is about .66 (or .69) to 1 US dollar when it comes to exchange rates but there is more to the value of money than the rate of which it exchanges. To the business world the british pound is nothing and the US Dollar is everything. International banks tend to no longer pile gold in their vaults but US Dollars because it is worth more value in business transactions. If you really can't understand that.. then don't bother working in internation business as you won't get anywhere... atleast masa knows what I'm talking about but then again he's an Economics major so he knows this far better than I do and would know what I'm saying.
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You ARE aware that the US dollar has been dropping quite a lot lately right?

Sure people do transactions in US dollars, but that doesnt make it "stronger". Money is money, I'm sorry but people will accept it. So what if they use US dollars as the main currency for business? You can still convert pounds into US dollars. Regardles of what you are trying to argue Ele, fact is the Pound is a stronger currency. I dont know why you are so deadset on the US dollar being dominant, whether its blind patriotism or simple ignorance I'm not too sure. I find it extremely hillarious that you keep emphasizing how the British Pound is worth "nothing", no money is wroth "nothing" even in the international world. If anything, the Pound still gets a lot of respect.
 
no.. it is all about what the business world trades in.. the world is a business driven one and the currency of choice is the US Dollar. That makes the dollar seem far more important than the other currencies. To the business world (which is the world) they don't care if the pound is "worth" more because that doesn't mean it's strong. The pound might be worth more but isn't too strong cause of Britain's debt (this was back when Nixon made the "rule" that the worth of money was no longer based upon how much gold you could get with it and then a nation's currency was based more on the power of the country) and lack of power, compared to the US, made the british pound not the currency of choice. US Currency seemed strongest cause our country was/is strongest. However the US's growing debt makes our money seem worth less value and makes international businesses and banks consider a new form of currency if the one in place seems weak. I'm not trying to be mean, but it's the truth of the world.
 
PPP = Purchasing Power Parity. Measures how much a person can buy with 1 unit of currency. In this case, Tyrath is dead wrong to say USD has more Purchasing Power compared to GBP.

In terms of business world, yes currently (though slowly decreasing) the USD is the most wanted and most exchanged currency in the world. Don't believe me? Read the business section for once!!

and even though you say you can "convert" USD to GBP and vice versa, in the business world.. the currencies are usually converted TO USD. This means, whatever currency you hold is usually converted to USD. It doesn't matter where or what you think your country is made of, people demand the USD. If you are in a business world, trades are *most of the time* done in USD. This of course, won't apply if you are doing domestic trade.

What Elem says is true Xerious, you can defend your idealogies all you want, but open ANY economics book and you'll find your answer right on your face. Even a high school kid taking economics can tell you this. :wink:

To Galaika, no.. man hour doesn't come into count. That's too subjective for anyone to count.

As for why the GBP is strong is because of its gold backing. If you bother to study your own American history, you'll know that once upon a time long time ago in a galaxy far away, 1USD=1GBP because of gold backing.. but hey, no thanks to your President who blew the gold system, 3/4 of the world suffered because most of the kept USD instead of gold.


Don't believe me about gold? Well, try bringing 1 GBP to a bank and request for gold. They'll have to give you the amount of gold that is equal to 1GBP. But bring an American dollar to the bank and request "gold" and they'll tell you that you are a fool.


Like Elem said, one of the biggest problem that America is facing atm is your international debt. I'm sure you don't know but about 70% of America is owned by foreigners - 40% from Arab. Wanna blame someone? Well, blame your current President *lol* My mom doesn't like your previous President so much(the dude with Monica Lewisnky) but during his office, your economy was actually recovering.. then *bam* you guys replaced him and got a guy who likes to spend. :P
 
I think Ele just needs a vacation to get out of the states and then it'll sink in when she personally sees this. =/
 
Ballista Royale... Economy... Ballista Royale.... Economy... Nope, don't see a connection.

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it started when WSM said somthing abou the dollar being greater than all or something like that and then someone ignorantly said "Euro > Dollar" and I proved my point why it wasn't and then someone said that GBP is > Dollar and I proved again that it wasn't and yes.. I pwned you all (with Masa's help)
 
Elemmire said:
it started when WSM said somthing abou the dollar being greater than all or something like that and then someone ignorantly said "Euro > Dollar" and I proved my point why it wasn't and then someone said that GBP is > Dollar and I proved again that it wasn't and yes.. I pwned no one (without Masa's help) and also Odon rules because he is so cute and cuddly and stuff.
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FTFY! :wink:
 
Elemmire said:
it started when WSM said somthing abou the dollar being greater than all or something like that and then someone ignorantly said "Euro > Dollar" and I proved my point why it wasn't and then someone said that GBP is > Dollar and I proved again that it wasn't and yes.. I pwned you all [/b](with Masa's help)
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I fail to see any of this. As for what I've read you've mostly been proved wrong. God help you if you ever decide to vacation out of country...
 
Strid said:
Elemmire said:
it started when WSM said somthing abou the dollar being greater than all or something like that and then someone ignorantly said "Euro > Dollar" and I proved my point why it wasn't and then someone said that GBP is > Dollar and I proved again that it wasn't and yes.. I pwned you all [/b](with Masa's help)
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I fail to see any of this. As for what I've read you've mostly been proved wrong. God help you if you ever decide to vacation out of country...
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I fail to see how I was proven wrong... and I've traveled outta the country.. many times.. I know all about exchange rates and how they work.. it's not hard.. but you are appearantly VERY ignorant about the world's economics...
 
Xerius said:
God WSM you are such an ignorant fool. Euro > US Dollar.
quote]

You were arguing this. This was the whole main reason you went off on this subject. Well Euro > US Dollar he was right. There simple enough ?

To quote you: "I fail to see how I was proven wrong... and I've traveled outta the country.. many times.. I know all about exchange rates and how they work.. it's not hard.. but you are appearantly VERY ignorant about the world's economics..."

I'll use Answa'a reply back to me.


"lol
:lol: :lol: :lol: :lol: :lol:
:lol: :lol: :lol: :lol: :lol:
:lol: :lol: :lol: :lol: :lol:
:lol: :lol: :lol: :lol: :lol:
:lol: :lol: :lol: :lol: :lol: "
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Well... set aside all of the economy talk, Id like to say...
I cant wait till we do this Ballista Royale! :D I just hope that they make it really fun (team wise). No one likes playing a game of Ballista where teams are unfair. :?
 
the Euro is not greater than the dollar.. more stable at the present time but the dollar is the currency of choice for the business world. Therefore Dollar > Euro. Another thing.. if one of those european nations goes into a depression, then the euro will get more unstable. It'll only take 1 nation to fail for the entire system to go down. How is the Euro > Dollar?
 
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