[ExI] Sudden outbreak of democracy baffles US pundits
dagonweb at gmail.com
Mon Oct 13 17:18:27 UTC 2008
> But most commodities and hard assets have depreciated against the USD,
> and gold has only appreciated slightly. The USD has also appreciated
> against most other currencies, even though ironically the US is
> responsible for the recent economic rot. This is because the USD is
> special: it is the world's reserve currency, due to the size of the US
> economy and the demonstrated willingness of the US government to do
> whatever it takes to protect their perceived economic interests. China
> and Japan aren't going to sell their dollars to buy gold or Euro,
> because the subsequent collapse in the dollar would damage their own
> economies, as when a creditor forces a debtor into insolvency.
So what you are saying is creditors owning US debts or dollars are only
going to sell
dollars if there is a panic, like when someone starts selling dollars in
quantities, all of a sudden - like when one of the debtors suddenly has a
natural disaster - or some bank makes a floating point mistake? (looks in
script) ... how remarkeble.... (mutters ... *december*) .... ok, gotscha.
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