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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Crimson Ghost who wrote (23834)12/27/2004 8:12:54 PM
From: Tommaso  Read Replies (1) of 110194
 
>>>But Argentina did not have the global reserve currency.<<<<

So watch the United States take EVERYONE to the cleaners.

Actually I think that with the seignorage privileges (or however you spell the right to issue money and credit that everyone has to accept because of your privileged position) that the U. S. enjoys, it can be somewhat like what New York is to the rest of the United States, a magnet of capital from less privileged areas.

But we must recall that New York has fallen on some pretty hard times now and then.

If England would join the Euro nations, a combined Paris-London-Berlin-Vienna-Rome financial axis could probably wrest all these privileges away from the U. S. dollar.
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