Selling is when sells a commodity, security etc. and receives currency.
Exchanging, as far as the capital markets are concerned, is to swap one
currency for another. Yes you are "selling dollars. we use that on trading
desk, but you are simultaneously buying another currency. Therefore, an
exchange or swap of currencies. If one is buying gold, silver or a home for
that matter, is one selling dollars or buying a home. The answer is yes. You
are doing both, but in practice you are buying a commodity, not selling
currency. One doesn't go to the supermarket and sell dollars.
My point was that one cannot go to the currency market, sell dollars and
expect to receive gold. One can go to the commodities market, buy gold
futures and take delivery, in theory.
----- Original Message -----
From: <jon@dakota-truck.net>
To: <dakota-truck-moderator@bent.twistedbits.net>
Sent: Saturday, February 09, 2008 9:31 PM
Subject: Re: DML: Made in China
>
> "Tom Byrne" <kerib@ptd.net> wrote:
>
>> 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.
>
>
> My thesaurus lists "sell" and "exhange" as synonyms. Is this a
> distinction without a difference? Also, I don't know if you noticed,
> but right after saying that you cannot sell dollars, you speak about
> what might not happen when selling one's dollars. (Which cannot be
> done.) :-) Or did I miss your point somewhere along the way?
>
> --
> -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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