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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (36127)	7/16/2005 3:37:27 PM
From: Douglas M. Benedict	Read Replies (1) \| Respond to of 110194

This begs the whole "LEGAL TENDER" issue... The U.S. accepted their recycled dollars into U.S. Treasuries... Now you suggest they can't spend US Treasury proceeds on U.S. Assets? What is the DOLLAR otherwise...a temporary loan permit with no rights to purchase or is it LEGAL TENDER??? It seems to me, that if the US Dollar really is a RESERVE CURRENCY then the U.S. has no rights to prevent them from spending them...OR ELSE...you need to revoke the "LEGAL TENDER" and "RESERVE" currency status... Catch 22... Pretend it's Disney Bucks...would you not be upset if DISNEY now said you can't use them at their parks??? ;)