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View Diary: Guess Who’s America’s Largest Creditor (Hint: It’s NOT China) (160 comments)

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  •  You hit the nail on the head (8+ / 0-)

    The only reason the USA is not in the same economic and political state as the EU countries I listed is because the US government is able to print more bills in a reserve currency.

    What YOU forget is that accompanying this has been a devaluation of the dollar against other currencies. A year ago the rate was around £1 = $1.53 - today it is around £1 = $1.698. It has also devalued against even the Euro with 1 Euro buying $1.333 a year ago and $1.363 last week.

    While this is good for tourism and exporters, it means imports would be higher (if it were not for the Chinese taking a hit to try to freeze the Dollar/Yuan rate)

    "Come to Sochi, visit the gay clubs and play with the bears" - NOT a Russian advertising slogan.

    by Lib Dem FoP on Sun May 25, 2014 at 08:00:16 PM PDT

    [ Parent ]

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