The $100 Breakfast
Emperor Bush's announcement yesterday of new and destructive ways to devalue the dollar brings me to another topic from my vacation - the value of the dollar. Various events in Egypt affirmed that long gone are the days when dollar was king; when the rest of the world eagerly traded the paper note of the American treasury for a product of their labors.
Many people in Egypt do not trust their banks so, as was once the practice here in America, they keep their money in their homes. In a box here, a purse hidden away there and perhaps in a mattress too. My aunt with whom we stayed for the the first two days of the trip is my usual money changer. Dollars are worth more than Egyptian pounds so my visit used to mean that she can unload some of her worthless pounds and hold what really has value. But not this time.
Anxious to get my shopping started on our first day, I told my aunt I would exchange money with her instead of going to a currency exchange if she wanted dollars. Perhaps my surprise was born of a certainty of the supremacy of all things American, but she refused. She said she would give me a loan of pounds until we found a bank but, given the decline in the value of the dollar, she would prefer Euros. Foreigners are paying way more attention to the dollar's fortunes than Americans are.
Thank you Emperor Bush.
Fast forward two weeks and we arrive in Safaga on the Red Sea. The Red Sea resorts are their own worlds, distinct and apart from the rest of Egypt. They are where you will see topless sunbathers on the same beach as women covered head to toe. The contrasts are strange, but always fascinating.
When I got SCUBA certified many moons ago in Egypt, diving was denominated in dollars. Indeed, most of the Red Sea businesses preferred (and often demanded) payment in dollars. All foreigners converted their currencies to dollars to fund their dive excursions, trips to the desert, big dinners and decadent nights of drinking.
Imagine our surprise then when we went to the dive center to book our dives and were quoted payment in Euros. We looked around the dive shop and all the price tags were in Euros. 20 Euros for a sweatshirt embroidered with the logo of the shop, 10 Euros for the underwater video, 30 Euros for a personalized dive video. Each of us did the rough math in our heads and we were traumatized. 65 Euros per person (plus equipment rental) does not sound so bad until the calculator in your head hits almost $100. And this was Safaga. Sharm El Sheikh is orders of magnitude more touristy and, thus, more expensive as turned out to be the case with our dives that cost 79 Euros per person + equipment rental. There was a time when $100 would get you a day on a boat, two dives and equipment rental.
Thank you Emperor Bush.
Our orientation to the world of the Euro in Sharm eased the transition to the weekend in Paris, where $500 at the airport got me 329 Euros. We all knew that we would have to tighten the belt and keep it cheap for the weekend.
After we dumped our bags at the hotel, we went in search of breakfast and stumbled across a cute cafe that seemed to be reasonable. I ordered the 8 Euro breakfast and everyone else got their yummies. The total for our food was 49 Euros. Add to that the 22% city tax (because we were foolish enough to go into a more touristy place that charged tax) and the total was 67 Euros. We stared at each other completely dumbfounded at the realization that we had just spent $100 on breakfast. And all I got was a croissant, eggs and some hot chocolate. For the remainder of the weekend, we ate well at dinner, but bought breakfast and dinner from the corner carts that sell paninis and crepes for 2 Euros.
I checked the price of gold yesterday. It was at $656 per troy ounce.
Thank you Emperor Bush.
posted by Intellectual Insurgent @ 3:13 AM
19 Comments
19 Comments:
Yes, the Euro is dithering around $1.30 and Sterling is flirting with $2.00 and many of us have profited by the fall of the dollar, but I have the feeling that we are on the brink of a precipice.
I hate to be a heretic, but when the Republicans assure us that debt doesn't matter, I do have my doubts.
We got $1.44 as the exchange rate in Paris. Ouch!
When you say many of "us" have profited from the dollar, are you referring to the housing market or something else?
I would not bet against the dollar , but many are, in funds ,that expect the dollar to fall.
86% of the world economy is directly tied into the dollar. Also the resource base of North America is the foundation of the world economy. The dollar in other words will be the very last currency left standing if other currency`s fail. That again is because of our consumer buying , and also our resource base.
Gold can easily become unhinged from Oil, and dollar constructs also.
I expect it to go through the ceiling , it has doubled in value, the last 4 years, but that does not discount the dollar as the fundamental currency that underpins all currency`s in the world right now.
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Part of the speculation for a widening war (Iran, South Asia, etc) is that the Iranians are switching to selling oil to Euro`s from Dollars , and they are going to be destroyed for that. We shall see what happens soon there. I would not like to be a resident of Israel right now. Or, for that matter a resident of anywhere in that area. Trouble is brewing. Bad trouble.
Although there is a small amount of inflation here in the U.S. really food and a lot of things are cheap.
Outside of the U.S. in some places the dollar may not be worth as much, but it is still king in most of the world.
Again it will be the last currency standing. The Euro will collapse before the dollar ever does. It is a dollar hegemony and will remain so, until the whole Price System destroys itself and falls apart.
Even then North America is in good shape. We have the resources.
The money is not real.
The resources are. North America has about 52% of the worlds resources. Russia about 32%. Asia less than 8%.
See the dynamic.?
52% of all resources or just certain ones?
Moses didn't come up during our tours of the ancient monuments. I've never had that discussion in Egypt and, honestly, I doubt that it would be discussed. Since Moses (Moussa in Arabic) was an Islamic prophet, most discussions about him arise in the context of Islam, not ancient Egypt (although, as I think about it, I am not sure that it is possible to separate the topics).
Because of the strong denunciation of the pre-Islamic pagan religions, Egyptians are very funny about defining themselves around Islamic, not Egyptian, history. Even if they were to acknowledge enslaving the Hebrews, I doubt that they would see it as something "they" did.
The Egyptians never enslaved the Hebrews. That is myth , that came from old stories related to a Hittite invasion , as is also the Exodus Narrative, also Propaganda by Religious dissemblers, from the Babylonian Capture period, when most of the old 'bible' was written , and then planted in the new 2nd. Temple.
Egyptians took some captives, yes. The Egyptians did not care about that renegade tribe of bandits. That is all they were known as at the time. Brigands that had little mercy on their enemy`s/victims , with a Sumerian based splinter tribal religion that was related to the Canaanite Storm god also.
They had just acquired iron-age weapons , and being formerly pastoral people had no sense of borders.
Shortly after, they began killing the Canaanites , the descendants of the modern Lebanese , and ancient Phoenicians. According to their Bible they then wiped them out.
One of the reasons many people in history have hated the Jews passionately, is that they detailed their killing spree , that was ordered to them, by their Black Magic Voodoo/Hoodoo Mr. god.
Their god, killing Egyptian babies, and then bragging about it, did not win them friends in Egypt or elsewhere.
Also the point of their own tribal lives being sacred while others were not, did not help.
They still teach the same stories to their children today. More information at
http://cc.usu.edu/~fath6/index.html
Click on ,
Anthropology of the bible
Also Donald Redford's excellent book published by the Princeton Press.
Egypt, Canaan , and Israel in Ancient Times.
Probably the best book on the subject.
The first site mentioned is by a Professor from Utah who is also a great authority , and excellent writer, Richly Crapo.
------------------
Basic and important resources Intellectual Insurgent.
Potable water.
Agricultural land.
Minerals.
Energy sources.
All the important things that are contained in the area of Canada, U.S. Mexico, and Central America and the tip of Northern S. America.
It is by far the richest area of resources in the world. It gives us here the possibility of creating a self-sustaining society built on abundance.
The average standard of living for all citizens here would be very much considerably higher, if our class/caste/politial system were left behind and energy accounting with sustainable abundance used instead.
Technocracy .
If we allow our resource base to be destroyed by Globalism , which is happening , now then all is lost.
i hate to debate with you while you are overseas and all...but don't you think the dollar SHOULD eventually get weaker internationally, and not just because of Bush's actions? I will not argue that Bush's economic policies are probably hastening the weakening of the dollar, but maybe it has been the strength of the dollar abroad that has turned us into a country of fat, lazy, unmotivated people. How long could we expect the dollar to stay strong when its very strength hastens domestic factors that cause the pendulum to swing violently in the other direction a generation or two later. the children of the great depression are all dying and our workforce is almost entirely composed of people who don't produce anything we can sell on the international market.
i think there are bigger factors in play than just bush but i do sympathize with your conundrum.
okay...i really didn't feel that strongly about my argument. i just stopped by here because you were on my mind. holla when you get back...
The rate you get for small exchanges will always be more. Banks don't do these things for free.
I mean that there is money to be made in the volatile relationships between currencies - a lot of it. Perhaps money is not real, but the things it buys are real enough.
I'm afraid that, like ancient history, the international currency markets are a bit more complex than can be accounted for by grossly and tendentiously oversimplified facts forced into a procrustean bed of outmoded and debunked quasi-Marxist economic dogma. The idea that our lust for consumer goods financed by the offshore producers will keep the dollar strong and interest rates low despite a ten trillion dollar debt is unique and I hope Skip doesn't lose his no doubt considerable fortunes (energy credits?)playing a game he doesn't understand.
The story of Moses and the exodus is of course myth and there really is little to no evidence for the biblical account. I prefer, in the absence of evidence to suspend judgment about the reality of Moses and the unreality of money.
There is, as part of the Passover ceremony, a prayer for those innocents who died, but although prayer means nothing to me and it probably never happened anyway, it should be recognized as should the fact that all the major religions and some economic theories have justified the slaughter of others. Religion is all about self justification, but that's a matter for another discussion.
There is an apologetic derivation of the name Moses having to do with being drawn from the water, but I prefer to refer to Egyptian. The word moses or meses means born of or heir to in the old language and is a component of names like Rameses - son of Re or Ra - son of God if you prefer. The main hieroglyphic character "mes" looks like a uterus with fallopian tubes. In Coptic, it still means to give birth. Since other ancient heroes ( was it Sargon? I don't remember) were also found in the bullrushes and adopted by royalty, I doubt that story too but the name Moses is still tantalizingly authentic. There may be some historical kernel in the exodus myth, although any connection with the Hittites seems contrived to me for many reasons - or some pastiche of historical events, but without archaeological evidence it would only be the kind of conjectural expatiation aided by a few google searches used to support prejudice that certain people indulge in here.
Richly Crapo notwithstanding ( could anyone make up such a name?) I've read rather widely and at length and it makes some of these Sievertinian certainties rather fulsome to my way of thinking. Of course to anyone who thinks the ancient Canaanites descend from modern Lebanese ( DNA evidence suggests that modern Jews are descended from ancient Canaanites) all facts are up for grabs If we are to believe that everyone hates Jews because of the fictional account of history in the Bible, real history doesn't matter - it's just something you use to prop up your bigotry. Ancient Hebrews were no more or less bandits than ancient anybodies, and if we are to hate them for fictional military exploits, what then of the Prophet with his real military exploits? What about the huge military exploits of the Pharaohs? The Persians, the Assyrians, the Nubians the Macedonians? The mysterious "sea People?" They took a few prisoners? Sounds like more Crapo to me.
Again the actual archeology suggests that Hebrew immigration into Canaan was peaceful and that there was no battle of Jericho or evidence that the Phoenicians were wiped out by Jews, in fact they were alleged business partners of ancient Israel and powerful rivals of Rome many centuries later but perhaps Crapo Richly neglected to mention it or perhaps Skip just needs a pseudo-historical excuse for his sermons.
It's amazing what damage can be done in a few years. When I was touring Italy in 1999 I was buying Euros for something like 80 cents. We had a balanced budget then.
Even with the dollar being cheap, nobody can tell me it's cheap to live in the states.
In Washington DC, for what I'm paying this winter for a week's worth of food, I could have a month's worth in Spain. Buying meds for a friend with the North American flu, I spent $100 for the doctor and $75 for the meds, where in Spain the doctor is free and the meds would cost $15-$20. Not that everyone gets flus in winter in Spain - this was my first in 3 years, and my first time in the states in 3 years. I'll be pilfering some of those meds. Add in comparative higher education costs and it's no contest.
Sure though, Europe leaves some things to be desired, and Paris can be an expensive city.
Interesting how Professor Frog , can spin nonsense. Or was that Capt.
Those whose minds become fixed on complicated theories and admiration of their own ideas loose the ability to deal with reality.
Fogg you reveal your profound ignorance at every turn.
I wonder what you are trying to prove.?
As I said, Richly Crapo and Donald Redford are in agreement , about the tribal band in discussion.
As far as the wiki comment , it is a sad world that people use that disinformation service.
I never use it.
The fact that you are calling into ridicule two of the most mainstream and well thought of people in regard to the history and anthropology of that area lets me know that you are not interested in facts. Just your 'opinions'
There are many educated fools , but no fools that are educated.
That would be you .
Am I clear.?
The Canaanites were wiped out and over run by the Apiru/Shasu or Jews as they were called a little later. A few groups of Canaanites survived to the north.
Only along the coast north of modern Haifa did the original Canaanite population maintain itself, these coastal Canaanites now known by the discription 'Phoenician' , occupied Tyre, Sidon, Beirut, Byblos, and Arvad
They were a part of the Canaanite group originally.
Egyptian history is very clear about that group of people they refer to as 'Apiru'. They were a rag-tag assortment of thieves and drop-outs. Known for their lawlessness , and lack of mercy.
All religion is based on bigotry.
To bad you do not have the intellectual chops Mr.Fog to make interesting arguments.
You still think that Technocracy is based on Marxian models. That is rather pathetic coming from such a supposedly expansive thinker such as yourself.
Richly Crapo could chew you up and spit you out intellectually before breakfast.
So Mr. Fog.
My opinion is that you are just not as smart as you think you are, despite the supposed fact that you say you have 'read widely'.
You are a backbiting pseudo-intellectual.
Am I leaving any doubt about my opinion of your thoughts.?
Vos estis hominem, dude. No doubt about it.
Richley (you spelled it wrong) Crapo is an anthropologist, not an archeologist. You may have slept at a Holiday Inn Express last night, but you aren't either. There many histories of the Phoenecians that somehow don't jibe with that thesis, but nothing is true, save by your leave - and Crapo's.
The archaeology does not, IMO, seem to argue for a violent invasion. There are no certainties in ancient history, but that's what I think. You're welcome to disagree without resorting to hydrophobic snarling or imperious posturing - if you can.
I said Google, not Wikipedia, but you must have had a Freudian moment since that source dismisses the relevance of Technocracy rather thoroughly and succinctly. Of course they could be wrong, but I don't think so.
So really, there is no controversy about Crapo's ideas? Everyone agrees? He's the Man? The archaologists and the historians and the geneticists? Really? I don't think so, but your welcome to continue the gorilla impersonation if you don't hurt yourself.
There is a lot of support for an enslavement of the Hebrews and after the Hyksos period about which too little is known, in Fact I thought Crappy supported that, but whatever, no point in arguing with a true believer or with someone whose self justification rests in winning silly arguments.
Say what you like, but there is a lot of conflicting data on an exodus and a lot of argument. There was also an interesting genetic study concerning the Hebrew settlers in Jericho a few years ago that you probably haven't read, and there is archaeological evidence that the hebrew settlement of Canaan was slow and not violent, but again -- there is a lot of data and little consensus and much debate. In fact we both could be wrong. But quoting Crapo and ignoring a huge field of other ideas and data - well that's like you isn't it Skip? Justifying Jew hatred with some story about the Jews being the evil ones of the ancient world 4000 years ago reveals a lot about you. Who were your ancestors eating 4000 years ago? You should know better than to use a buillshit argument like that when it would apply to every group in history - I thought you were a historian? Oh that's right - you're not!
Are you just playing fast and loose -- cherry picking things that back up your dislike of Jews, money and anything that doesn't cover you with praise? Are your historical ideas as "mainstream" as your economic theories? I think so.
Say what you like, but with all due respect, Richley Crapo is still a funny name, which was my point and I'm sticking with that -- but your bragging and strutting and condescending and generally nasty nonsense is all over a lot of blogs and it's all the same and it's not so funny. Everybody's an idiot, everything is a lie, everything's corrupt, everything's going to hell, everything is rigged and only you and your disciples can save the world from the problems of the 1930's by doing away with money or calling it something else and establishing a Technocratic aristocracy to rule our lives. Everything will be cheap if we do away with money - right? (How many kilowatts is Gold today?) How many Joules for a hot dog? Come on - even you can afford to be seen smiling. Nobody trusts someone who can't see the humor in himself. And of course you could try to explain this stuff rather than just sneer at people and call them frogs - if you can.
Oh and yes - descendants come after ancestors - you still don't seem to get it.
But I concede Skip - you just know every damn thing about every damn thing and everyone else is an idiot and that's why you're haunting countless blogs, stifling discussion and flogging your magic, no-money utopia and getting nowhere further than any of it has got in the better part of a century. No humor in that at all.
If any other poor soul has read this far, I certainly would recommend that people read Skip's crepuscular web site, but you might enjoy the anti-Technocracy Forum too.
http://bloggin4food.blogspot.com/2006/11/weaknesses-of-technocracy.html
Haven`t a clue Frog why you care to think you are a 'smart' person , that can tell me much. No evidence of that.
Why you like to say I 'hate' the Jews, I do not know. Maybe because you are an idiot.? That's right no mistaking what I am calling you is there.?
It is a commonly accepted view in our contemporary world to view ancient Israel as having perceived history as gods judgment on mankind leading inexorably to universal salvation through god`s guidance of Israel. Sadly, these tendencies reflect neither scientific thought nor basic intellectual honesty. What is needed rather is a view of ancient Israel within its true near eastern context, and one that will neither exaggerate nor denigrate Israels actual place within that setting.
Again , you may name call me this and that , but really I don`t care.
You can lie and say I hate people when I don`t , it makes no difference to me.
Again I find you a backbiting fake intellectual.
I said all religion relies on bigotry. All religion Frog.
So drop dead with your dissembling my words. Clear enough for you.?
You are a dishonest person. Anyone who resorts to lying in an argument is.
If any one has a real interest in the subject I suggest again Donald Redford , and his book published by the Princeton Press.
Egypt, Canaan, and Israel in Ancient Times.
It is a classic , published in 1992.
I have looked at your Political blog Fog and find it boring. Much like your overheated and egoistic mutterings here.
Tough speech from a nobody with no credentials living in a low rent, inner city shithole. Pretty sad for a big time economist, or are you just hiding out in the witless protection program?
You can't comment on the weather without your crapulous and tawdry agenda flapping around like a piece of toilet paper stuck to your shoe. Who the hell do you think you're impressing?
Where's your degree from anyway, professor twinkletoes - barber college?
Sticks and Stones , bonehead.
There are many educated fools , but no fools that are educated.
Pathetic.
I would note a few things: one, in my absence, Skippie the Stock Trader hasn't ceased to have strong opinions on everything and anything, and two, yes, the dollar has collapsed since the CEO repubs took over in 2000. This is because they do nothing right whatsoever.
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