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WODIN said:The EU is worth $1.22 to the US $1.00. That has swong from $.80 EU to $1.00 US dollar in the past 3 1/2 years. Thats a net loss in US purchasing power of EU goods and services by over 40% in three Years.
In December Cuba will no longer accept the US dollar and is benchmarking everything on the EU. Net loss in Cuba 40%.
If the Chinese and the japanese were to start dumping our Tbonds today. We would be insolvent and have the worst banking crises in the history of this country.
The EU could buy it 200 x over.
THIS is why running up our national debt like Bush has is so god damned dangerous. His fiscal policies are incredibly risky for our economy's future.