You see this graph? You know what this means? It means I'm motherfucking rich.
This is the yen-dollar exchange rate for the past three months. This number drove me nuts while I was traveling because my yen-denominated account kept shrinking and I wasn't even getting high for it. Now its on a rebound and at least this guy thinks it will continue to get stronger.
Right now I have all of my money in three very inconvenient places. I have my Citizens bank account in Boston, a wad of Thai bhat that I haven't converted back to dollars yet, and my Citibank Japan account (denominated in yen) that I was able to draw funds from at ATMs in Asia (very convenient if you ignore the 3% transaction fee for doing so).
A 4% appreciation in the yen doesn't mean much to someone like me (I think I have an extra $56 in my account now) but it's like getting free money and that rocks. You would think with a background in Economics from a respectable university I would fully understand why this is happening to the yen, but I don't. It makes me feel better to know that very few other people do either. Reading online financial opinions from February and March, this wasn't something everyone agreed upon. I hope it lasts.
Sunday, July 29, 2007
I'm motherfucking rich!
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