Jos
Rookie
- Feb 6, 2010
- 7,412
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- Banned
- #21
The Dollar used to be backed by Gold, then it was backed by Silver, now it is backed by.......confidenceAs a former assistant Foreign Exchange trader, I say now is the time to buy more U.S. dollars$.
I think this may be one of the remedies that may solve the Euro dept crisis, and bring the
rest of the world, and America out of a possible global rescession.
The more U.S. dollars these European countries have in reserve, the more likely they will be able to get loans and transact other international business. As the U.S. dollar is the currency of global business.
Many of these Euro countries are afraid to lend to each other, because of this "Euro" uncertanty, and debt problem, yes the U.S. dollar has debt problems also.
But we have a economic solution to our debt problem that is working to reduce the
United States debt.
The Europeans have still not figured out a workable plan to reduce the Euro debt problem.
The Euro is continuing to decrease in value globally
The U.S. Dollar can spark this global economic recovery.