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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Steve Lokness who wrote (96966)4/23/2009 9:29:35 PM
From: The Vet1 Recommendation  Read Replies (1) of 116555
 
You must be furious at the transfer of wealth - OUR WEALTH - to ME countries that hate our guts then? Like the oil producers. Largest transfer of wealth in the history of the world.

Yea, but in which direction is the transfer?

One country supplies another with a valuable commodity, oil, and the other pays with depreciating electronic credits, created at almost zero cost, called US dollars, which can only be utilized by the recipient by lending them back to the country which produced them in the first place.
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