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To: GST who wrote (135828)12/15/2001 5:24:54 PM
From: Bill Harmond  Read Replies (1) of 164684
 
Yes I understand the US runs a current account deficit, and that money converts back to dollars to finance it.

My point is that current accounts deficit has existed for a VERY LONG TIME, without ill effect you keep predicting. The reason is the money returns to dollars is because the currency has the best foundations of any other, and money finds its highest and best use in dollars, because the dollar is well managed and universally acceptable, and the country that issues it has the most advanced and stable economy on the planet. The full faith and credit of the USA is the best it gets on earth.

Dollars are the world's reserve currency for all the reasons I posted earlier.

Now do you get it?
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