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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 238.20

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3:59 PM EST

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To: GST who wrote (135860)	12/16/2001 12:17:39 AM
From: Bill Harmond	Read Replies (2) of 164684

Of course I get it. The money has to be reinvested in something here to be repatriated. That's why I said the guy who does the buying surrenders his dollar, but that doesn't affect the value of the dollar. Your point is in the context of currency value, right? If we traded goods in gold, the value of the gold wouldn't change, no matter who had it. Same with dollars, as long as monetary policy is disciplined. This from the Federal Reserve on recent years' trade deficits and to your point: To finance this investment boom, the United States borrowed abroad; foreign countries invested heavily here. In other words, foreign countries in this period found real and financial U.S. assets more attractive than the assets of other countries. This desire to purchase U.S. assets, in turn, drove up the dollar and kept interest rates low—conditions that contributed to the increase in the trade deficit. Thus, the growing trade deficit in the late 1990s can also be viewed as the outcome of the fact that U.S. assets in this period were in high demand worldwide. newyorkfed.org

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