The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: RealMuLan who wrote (37231)	7/29/2005 1:27:28 AM
From: mishedlo	Read Replies (2) of 110194

I am saying outside Yap island stones it is meaningless whether China accepts YEN, USD, EUROS, or anything else. If China takes USD and does not want them, currency conversion via forex is instantaneous, right here right now, today. It is totally irrelevant what stuff is priced in or what stuff is traded in. China could price it in gold and it would not matter, unless China actually held the gold rather than converting it to YEN or wahtever. But... It does make a difference what reserves in what currencies are kept. Mish

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