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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: regli who wrote (50775)5/8/2006 4:12:36 PM
From: Tommaso  Read Replies (1) of 116555
 
But it's one thing to SPEND dollars (which you can print yourself) to buy euros, and quite another thing to spend foreign exchange that you do not own. China and Japan have been buying dollars for years with their currency, as we all know. The only way the U. S. can spend foreign currency is to borrow it from other countries, and to do that makes the situation only worse. It's like paying off a credit card with another credit card.
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