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Sorry, "unpeg" was the wrong word entirely and muddied what I meant to say. If US dollars stop being the de facto accepted exchange currency we are in trouble.
by tclancy 6y ago
Sorry, "unpeg" was the wrong word entirely and muddied what I meant to say. If US dollars stop being the de facto accepted exchange currency we are in trouble.
- yardie 6y agoSome US politicians would love nothing more than for the US dollar to not being used for international exchange. Other countries enjoy the right to devalue their currency for trade and debt. The US has no relief valve mechanism. $1 is worth exactly $1 everywhere in the world. We can't sell cheaper goods to China, for example, without making the products physically cheaper. China can always sell cheaper goods to the US by manipulating the RMB relative to USD.
- RobertoG 6y agoHow could possible China manipulate the RMB relative to the USD but the USD be worth exactly the same everywhere in the world?