Re: Made in China

From: Tom Byrne (kerib@ptd.net)
Date: Sat Feb 09 2008 - 19:45:35 EST


Nope. One cannot sell dollars. One can exchange dollars. One can buy gold,
but selling one's dollars does not automatically result in one getting
precious metals.
----- Original Message -----
From: <jon@dakota-truck.net>
To: <dakota-truck-moderator@bent.twistedbits.net>
Sent: Saturday, February 09, 2008 6:27 PM
Subject: Re: DML: Made in China

>
> droo <03dakotacc4.7_4x4@comcast.net> wrote:
>> On Tue, 05 Feb 2008 12:37:29 -0500, Dustin Williams
>> <dustinewilliams@gmail.com> wrote:
>
>>>
>>> It's a bit more complicated that it was in the days of the gold
>>> standard, but the principle remains the same, print more money and it
>>> becomes worth less.
>>>
>
>> We don't even have to print more money to make it worth less. It just
>> has
>> to be outside this country and in someone else's hands. That makes it
>> undesirable. No one is going to use dollars in their own country to buy
>> anything. So they need to sell it back to the US for another currency
>> that the US is trying to get rid of. And because we import more than we
>> export, we don't have a large supply of other currency to trade for the
>> US
>> dollars. Since they can't get rid of the US money and they can't spend
>> it, it just isn't worth anything.
>
>
> That doesn't sound right to me. Even back in ye olde days, I
> would expect the foreign seller of dollars to be paid in gold or
> silver, it would simply not be feasable to stockpile foreign currency
> soley for the purpose of buying back dollars. Since 1977, this has
> been done electronically. The offshore dollars get shipped to the US
> for an electronic transfer of funds at the current exhange rate.
>
> --
> -Jon-
>
> .- Jon Steiger -- jon@dakota-truck.net or jon@jonsteiger.com -.
> | '96 Kolb Firefly, '96 Suzuki Intruder, Miscellaneous Mopars |
> `-------------------------------- http://www.jonsteiger.com --'
>
>
>



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