Then Ron, if we were to follow your argument to it's end conclusion, by holding Yen, the US Federal Reserve & Treasury(& there-by "we the people") are subsidizing all of Japan, the Yaun - the whole of the economy of China(oh, I forgot tit-for-tat with the DNC), some Euro All of Europe. I don't find the world on the Yen standard.
Come on Richard. You can do better than that.
Countries hold each others currencies because they trade these currencies actively between each other in order to maintain stabilized exchange rates.
But let me ask you something... if the US is currently running a trade deficit for goods that we pay in dollars for, then can you really assume that the US holds more Yen, Yuan, and Euros, than they hold of US dollars??
I think you already know the answer to that.
Gold is obviously not a true currency when compared to the Dollar, Yen, and Euro. You goldbugs scream and yell when CBs try to sell their hoards, and your constantly clammering that gold once again back paper so that you can get the govts to subsidize the gold mining industry.
How can gold be a proper currency if all you expect banks to do is buy more and more of it, store it, and never sell it??
Regards,
Ron
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