Also, budget deficits got easy to finance in the absence of dollar convertibility, so you can hang their permanence on 1971 as well.
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"It's not easy to calculate that kind of thing as a dollar amount, " said Nina Simon, director of litigation for the Center for Responsible Lending.
Add to that a low Australian dollar, excellent food and wine, friendly and easy-going people who do not sneer at tourists, because they travel themselves, first-world health and safety standards and a low crime rate, and the place sounds irresistible.
Aided by a compliant, easy money Fed, both Administrations simply ignored the falling value of the dollar in terms of gold.
Weinswig also went relatively easy on other value-oriented stores like BJ's, Costco and Dollar General, as she believes they may benefit from conservative consumer spending patterns over the next two years.
By trying to use easy money to lower unemployment, the Fed risks further eroding the purchasing power of the dollar.
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That is not so easy for Hong Kong, which cannot lower costs through a depreciating currency because the Hong Kong dollar is pegged to the greenback.
Easy to see French and the Swiss franc as separate from, but swappable with, English and the dollar.
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That played counter to most theories that the dollar would continue to suffer from the prospect of vastly widening yields as the Fed maintains its easy bias while everyone else is raising rates.
Housing costs have been fuelled by easy credit thanks to ultralow interest rates that policymakers can't raise because the currency is pegged to the dollar.
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