Exchange Rates

[stevewool]

DONT MENTION DIVORCE AND PENSIONS :bash: :bash: :bash: :bash: :bash: :bash:

[Jack Peterson]

DONT MENTION DIVORCE AND PENSIONS

OK I won't but just a Heads up on something. My barrister told me before my Divorce, Marriage, changes Everything, Divorce, Changes Nothing.

 

JP

[Thomas]

Many Countries are just not willing to give their pensioners the Safety net that this agreement can Give. Why I do not know but I guess it is all about keeping the Money in the Country as long as Possible. Now I understand that the Scandinavian Countries are not Signed up to this Agreement and are in some Circumstance penalized by up to a Third. Australia seems to have a Pension Problem based on the same issue, Maybe you could tell us how this affects Canada and others can add their bit about the US who I understand are also not Signed up to the Agreement.

Well. Almost all*  "kano countries" CAN'T AFFORD to keep the pension values, because biger and biger part of the citizens become in "retirement age".

Sweden have noticed that and are RAISING the retirement age, although it was among the highest allready.  (Now it's 65 and decision of raising it is taken, but haven't started yet. First with raised will be them, who are born 1954.)

 

*The only exception I know is Norway, because they SAVE much of the nowadays income on OIL to FUTURE costs as pensions.

As for you comment that a "hard " currency pension could deteriorate to peanuts, against a "soft" currency. I think it's an exaggeration. There are cost of living raises on these pensions, and most of these pensions are awarded at age 62-65. I believe you would have to live a long long time to see it deteriorate to peanuts.

Well. Around 20 years ago I predicted the economy in western countries are "doomed" in the long run, because so much of the PRODUCTION  are moved to low salary countries.  The countries CAN'T live of producing services for OWN citizens...   The problem can be SEEN ALLREADY by the countries borrow to CONSUMTION...

 

Concerning time frame:  Since year 2000 it has been HUGE changes ALLREADY e g for USA.

SEK compared to USD:

Year     Got SEK for 1 USD

2000    11:30

2014      6:30

(Now the USD has recovered some compared to SEK, but that's depend of SEK are not as strong as a year ago   :)

SE Asian economies in average are long time STRONGER than western countries.

 

So I expect the value of our home countries's currencies will go on droping long term, with some fluctuations...