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To: Tommaso who wrote (1275)12/5/2000 9:42:19 PM
From: Hawkmoon  Respond to of 74559
 
I don't know how long the US can go on enjouing the benefits of this seigneurage privilege of coining (printing) money for the world.

So long as there exists more corruption, less financial oversight, and less liquidity than exists in the United States.

People are holding dollars for a reason.. Do not underestimate the allure that the United States has for many people around the world. (and I'm not being some kind of flag-waver here). The truth is that most of nations have nasty habits of expropriating the assets of their wealthy people (even more than Uncle Sam does).

People simply don't have guaranteed rights, nor the legal system to protect them as they do here... And that is the greatest strength of the US economy.

Regards,

Ron