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why didn't everybody switch simply to USD? That's some hard cash that doesn't care about some petty Brazil's issues. Anything local in such a situation, no matt
by saiya-jin 5y ago
why didn't everybody switch simply to USD? That's some hard cash that doesn't care about some petty Brazil's issues. Anything local in such a situation, no matter how well designed or intended, would be suspicious to me.
- ORioN63 5y agoThey can't legally print USD. That's a pretty good reason.
- animex 5y ago“Give me control of a nation's money and I care not who makes the laws.” - Mayer Rothschild
- matheusd 5y agoEveryone sorta did, since initially Real was nominally pegged to USD at a 1=1 rate and monetary policy was used to maintain that peg. This blew up in 1999 with the depletion of internal USD reserves.