MattKing
Moderator
One might posit that many other currencies have risen with respect to the US dollar. That is what happens when other countries catch up.
At least until 2008.
One might posit that many other currencies have risen with respect to the US dollar. That is what happens when other countries catch up.The dollar has fallen tremendously through the years. It has become a second-class currency. - David Lyga
The 'catching up' begin on 15 AUG 1971 when the Bretton Woods exchange rates (post wwii) collapsed. This was furthered by Nixon's permanent disengagement from gold. Henceforth, foreign governments were not able to exchange their dollars for a set amount of gold. In effect, the USD became fiat, as did every other currency on planet Earth. A kind of holdout was Switzerland which had to keep a certain amount of gold in reserve, but that has also now gone by the wayside. No currency is other than fiat, today. - David LygaOne might posit that many other currencies have risen with respect to the US dollar. That is what happens when other countries catch up.
At least until 2008.
Call if marginal if you wish. It was $250 in 2001 and now is almost $2000. I do not know what is going to happen but with that price increase I would not buy. Ditto, stock market. But I was wrong so many times before. I honestly do not know how to interpret this world. - David LygaAnd gold itself remains of marginal intrinsic value. It is just something that one can dig up from the ground.
Call if marginal if you wish. It was $250 in 2001 and now is almost $2000. I do not know what is going to happen but with that price increase I would not buy. Ditto, stock market. But I was wrong so many times before. I honestly do not know how to interpret this world. - David Lyga
It was $250 in 2001 and now is almost $2000. I do not know what is going to happen but with that price increase
Value - not price.
They are not the same.
This is true until you start talking about pegging a currency to a commodity whose intrinsic value - the cost of mining and refining it in the case of gold - is entirely unrelated to its value as a currency standard.To me David has it right. At least that is the way economists over here put it. The price is a fact, seen in an actual deal or the average of deals. Over the value one can argue. As you yourself hinted at.
I must call you on this wiltw, because the price of gold peaked around $850 in January 1980, NOT in the 'early 70s'. Silver peaked at over $50 during that month, also, when the Hunt brothers had cornered the silver market.When I was in my early 20's in the early 1970s, an uncle became a paper Millionaire by trading futures. His celebration was to invite family and friends to a banquet. At the banquet he gave each guest a Kruggerand (1 oz of gold)...at the time gold was $800 per ounce. So gold fell from $800 around 1975 to $250 in 2001, then finally climbed up to $2000 in 2020. That record does not look like a great one to me...it took almost 50 years to 'make money'
Why are many camera models different regarding where they are sold? One such example is the Nikon N8008 vs its European counterpart, the Nikon F-801. Another (old) example is the Asahi, H2 vs S2. An understandable exception is the branding of Nikkormat in the USA and of Nikomat in Japan, solely because pronouncing the letter R is difficult for Japanese.
I have listed only two; there are many more. But what is the prime reason(s) for doing this? Is it marketing needs, identification for sales data, or some other reasons? - David Lyga
Thank you, guangong, but let me tell you clearly it has nothing to do with intellect and everything to do with refusing to be shut up in life. Simply put, I must have my say. - David LygaDavid, is just to let you know that I enjoy your recent posts because they generate very interesting replies. Fun reading.
I must call you on this wiltw, because the price of gold peaked around $850 in January 1980, NOT in the 'early 70s'. Silver peaked at over $50 during that month, also, when the Hunt brothers had cornered the silver market.
That particular month, January 1980, was a major benchmark in the precious metals field. It was largely all downhill after Jan 1980 until well into the 2000s.
And Matt, as an addendum, 'value' can easily segue into 'price' with the correct persistence. - David Lyga
You paid no duty and you can be certain that the US Government got the best price possible. But the lack of import duty was the big thing. But I think that it was selling in the USA for more like $350 at the time. Then, the Japanese were making VERY good money because their yen was a whopping 360 per USD.- David LygaNot sure what this has to do with currency exchanges. But when I was in the USAF in Japan in 1965, I bought a Nikon F Photomic T for $189. It was selling in the US at the time for around $450 if I recall correctly.
I also had an Acura TSX (2006). It was sold in Europe under the Honda brand. Nothing to do with a gray market just different marketing.
You paid no duty and you can be certain that the US Government got the best price possible. But the lack of import duty was the big thing. But I think that it was selling in the USA for more like $350 at the time. Then, the Japanese were making VERY good money because their yen was a whopping 360 per USD.- David Lyga
Hard to believe but it has to be true. The PX must have been subsidized by the US Government. HAD TO BE. $440 was a fortune back then with minimum wage about $1.50 per hour. - David LygaAs I noted earlier, in a Dec 1964 Modern Photography product review issue, the Nikon F Photomic (not T) carried the price of $375 for the body and metering finder, and with f/1.4 lens was $440.
PX /BX prices were amazingly low for things.
Hard to believe but it has to be true. The PX must have been subsidized by the US Government. HAD TO BE. $440 was a fortune back then with minimum wage about $1.50 per hour. - David Lyga
Thanks for reminding me. Of course I bought the Nikon with a lens, a 50mm f/1.4 My model was the Nikon F Photomic T. So the complete "kit" price was $189 equivalent in Yen. I think I bought it off base in Shujiku, Tokyo for Yen not on base, or that could have been my reel-to-reel Akai tape recorder. That I don't remember.As I noted earlier, in a Dec 1964 Modern Photography product review issue, the Nikon F Photomic (not T) carried the price of $375 for the body and metering finder, and with f/1.4 lens was $440.
PX /BX prices were amazingly low for things.
I was only making $200 a month. Food and board paid for by Uncle Sam.Hard to believe but it has to be true. The PX must have been subsidized by the US Government. HAD TO BE. $440 was a fortune back then with minimum wage about $1.50 per hour. - David Lyga
That was another thing I bought in Japan. A Seiko watch. They were the first to come out with one with day and date and that also wound itself by movement. $25.I went thru Basic Training and Advanced Individual Training in 1971. While in AIT, I purchased a Tissot very very similar to this (bracelet styling identica!)
https://www.vintagemanstuff.com/pro...ar-automatic-steel-bracelet-1970-switzerland/
I recall getting it for $200-250 or so. Sadly, many years later it was stolen. I just saw two old ads on eBay for the PR516 Seaster. 1970... $500 - $600 asking (no longer available)
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