With trillions of toilet paper dollars flooding the world markets we have perpetuated the false idea that this is the predominate currency of the world.Trying to convince the world that the Fed is the lender of last resort.
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January 19th, 2009 at 6:50 am
Saddam Hussain tried to trade Iraqi oil in euro. What happend to him?
January 19th, 2009 at 6:50 am
The treasury notes specify payment in US dollars so refusing to accept dollars is not an option for them.
But China could refuse to lend more money or renew existing loans. The result would be world wide economic chaos that China doesn't seek at the moment.
The debt to Russia is not a big amount so far as I know.
January 19th, 2009 at 6:50 am
exchange your money for the euro and pay
January 19th, 2009 at 6:50 am
No matter how sick we are we are still the best currency on the planet. No one else could handle the volume of money exchanged and owed. Many people think China is our biggest debtor but the American People then the Europeans own more of our national debt than anyone else.
January 19th, 2009 at 6:50 am
China main currency reserve is in US dollars.
January 19th, 2009 at 6:50 am
You can start paying with gold. Then silver. Then women.
January 19th, 2009 at 6:50 am
France once did it, it was about in 1970s.