Exchange rate

[McClef]

I must have missed that.

I gather that for over a century, up to the 1930s, there were over 4 dollars to a pound!

[corbinj]

I guess I should have said ex-pat canucks, I hear them cry all the time about how "bad it is in Canada tax wise". Thats why they fled to the States.Most Americans have no idea how much tax they pay, they get the return information from the tax man." Hey I got your marginal tax rate down to 12%".The part they never tell is thats just the income tax. Most people in america are taxed in up to seventy other areas... I guess I'm the one doin the crying. For the most part Americans have their head up their a. Or is that "eh".. Sorry about steppin your toes Mcmurdo.

[McMurdo]

Its ok I really dont like being told I'm cryin' thats all, you have every right to be mad at the current situation, but like I said in my original post a real Scottish handsewn 16oz kilt is worth the money, I have to go for a final fitting today after work, and should pick up my new kilt early next week.

[Kiltman]

I must have missed that.

I gather that for over a century, up to the 1930s, there were over 4 dollars to a pound!

Your correct about that. I know when my wife was at Cambridge the exchange rate it was about $2.40 to the £. She was there in the late 60's.
Somehow, a little history takes some of the sting out of current rate.

[McClef]

Somehow, a little history takes some of the sting out of current rate.

It might put things in perspective but the sting is bound to still be there as it still has an effect on domestic inflation.

We experienced this in the late 60s when the Wilson Government devalued the Pound even thought Wilson came on TV to assure us that this would "have no effect on the pound in your pocket or your purse."

Of course it does, it affects the balance of trade especially when things have to be imported (such as oil which increases transport costs and leads to increased prices).