Posted on 05/03/2008 5:14:23 AM PDT by drbasketball
The relatively slow currency growth over the last few years appears to be due in part to the recent relative economic and political stability in some nations that previously had been heavy users of U.S. currency...
(Excerpt) Read more at nationaleconomist.com ...
The fact that foreign institutions are dumping the US dollar is outstandingly good news. It means the dollar, while not yet on record, is rising.
Now why didn’t you post the whole thing? It’s a Paulistinian ranting about a desparate molecular-level parsing of Bernanke’s statement.
lol!
So some nations are more stable now, so they aren’t using the dollar as a de facto currency as much. Big deal.
Yeah, I have problems when things are taken to the “molecular level”, especially in cancer research.
Let’s stick to generalities.
Yeah Moonman,
On the moon it probably isn’t a “big deal”, but when those dollars aren’t being used overseas they come flying right back into the good old USA. Travel a little. I recommend San Francisco, LA, Miami Beach and NYC, when you notice all those Ruskies in the checkout line buying more things than you are, that’s the dollars coming back. That my moonman then becomes INFLATION.
I won’t pretend that I’m smart enough to understand all this, but where does the Iranian Oil Bourse fit into this picture?
How much currency is in circulation? What percent is $US? Suspect a lot of it is $US.
It's a good question. The Bourse itself may not be a big deal. But when OPEC's 2nd largest oil exporter (Iran) decides NOT to accept dollars for their oil(2006), that's a big deal. And it corresponds exactly with the current crash of the dollar.
Most dollars (2/3) circulate outside the USA, what's going to happen if countries like Japan or China can't use them to buy oil?
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