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I do wonder exactly how closely Google watch the exchange rates these days when deciding when to PIP.
On Tuesday when I would have expected to see PIP £1GBP was worth about $1.98USD, today £1GBP is worth about $2USD. OK not a great amount but it is a 1% change in Google's favour.
I may be wrong but I would expect someone like Google, who have European offices, to have bank accounts in the major currencies they deal in, ie GBP and Euro etc. If I am right and they pay UK publishers out of their GBP account then they have just earned an extra 1% in a matter of days and UK publishers would have lost the same 1%. That totals a lot of extra $$.
...And what a lucky day, just when the dollar has collapsed to the abyss. Had the PIP been handful of days earlier I would have actually earned something, now all I can do is watch as my earnings decrease day by day as the PIP closes in.
You work hard to increase your earnings 5%, and Pang!, dollar declines 5% before PIP and all is gone.
But seriously, it's sad to read from financial newspapers that basically every nation/institution/bank/market/company in the world is either getting rid of dollars or planning to get rid of dollars. US will drown in their worthless money as thhhhrillions of dollars relentlessly pour back to US.
I'm sure in total it's a substantial amount of money for folks like you and me, but it is my very strong assumption that the money flowing out dwarfs (by nearly 2 orders of magnitude) the money flowing in, so no -- in general, Google paying monies to foreign entities is not a good thing for the overall US economy. It is an import in the services sector -- nothing flows in but money flows out -- it's nearly a pure raping of the US economy -- at the moment.
When Google starts to dominate the advertising system in other economies and US publishers figure that out and concentrate on dominating the publisher side in that economy, we'll see if native publishers like the way it feels to see bad information, badly translated, mangled language sites taking "their" high-paying clicks. ;)
[edited by: RonS at 8:42 pm (utc) on Mar. 29, 2008]