PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: ManyMoose who wrote (274531)	7/13/2002 12:02:04 PM
From: Ish	Read Replies (1) of 769670

<<How do you do that? That is, stabilize the dollar's value on the global market? >> It does it on it's own if nobody messes with it. Back in the early 70s Japan held way more American dollars than they wanted. The dollar was way down against the Yen, around 70 to 1 as I recall. Japan in turn bought American soybeans. They bought almost every bean we could produce. Beans went from $3 to $12. Dollars flowed back into the US and because Japan was no longer holding a surplus, the dollar got stronger. Japan sold the excess beans on the world market.

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