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To: Haim R. Branisteanu who wrote (75021)3/3/2001 5:10:04 PM
From: LLCF  Respond to of 436258
 
<US is in a special position as most of the Eastern Block and Asia are using the US dollar as their defacto currency, and much of that fiat money is accumulated under mattresses earning no interest. >

Yep, been going on for decades... print money, buy some stuff with it and it goes in a mattress. AND it's not counted in the national debt. Beautiful!

DAK



To: Haim R. Branisteanu who wrote (75021)3/5/2001 11:28:08 AM
From: pater tenebrarum  Read Replies (1) | Respond to of 436258
 
Haim, i realize a lot of dollars are circulating overseas...not just lying under mattresses i might add.
i doubt though that the current state of affairs is immutable...i.e. foreigners are both doing the saving, as well as the producing for the US, while the US just keeps printing. that sounds too much like free lunch, perpetual motion machine to me.


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