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Reply #7: He has a doctorate? [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
Statistical Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-09-09 10:44 AM
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7. He has a doctorate?
If people stop using the US dollar, the US cannot make any money. It will then be very poor and it will have to stop its production of more and more weapons to kill people.

Seriously? That is his "understanding" of international economics? If people "stop using the dollar" the US can't "make" any more money.

If people stop buying (or reducing buying) T-bills then by supply and demand rates will rise and the "cost" of our debt will take up a larger portion of our national budget which will require budget cuts to other area (including the military). That is a far cry from "stop using the dollar" and it certainly won't stop the US from "making" money.
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