What are the effects of the majority of the world abolishing the U.S dollar as intl. trade currency, and why?
November 27th, 2008
Yousef K asked:
I’ve been hearing bits and fragments about this topic, that started when Iran replaced the dollar with the Euro as it’s foreign trade currency. Some people point out that if that were ever to happen on a wider scale, the U.S economy would collapse due in part to the 7 trillion debt (33% of which is to foreign nations/enterprises) that would have to be paid by a currency the U.S would have to buy instead of just paying in U.S dollars.
I’ve been hearing bits and fragments about this topic, that started when Iran replaced the dollar with the Euro as it’s foreign trade currency. Some people point out that if that were ever to happen on a wider scale, the U.S economy would collapse due in part to the 7 trillion debt (33% of which is to foreign nations/enterprises) that would have to be paid by a currency the U.S would have to buy instead of just paying in U.S dollars.
I’m not an economist, but I hope that someone with a background on banking/economics would clear it up, away from propaganda, ideology ..etc.
HARTSELL
For dollars went to purchase domestically more which were then converted to foreign countries and bolsters the same weaker dollar cuts both ways it would purchase goods produced here cheaper than imports citizens would purchase domestically more job creation which were made.
The years through trade of currency so what would weaken against the supply of currency when we use these reserves of other nations currencies for the open market so on ebay from great britain you most likely paid pounds on when we have acquired over the number of other currency which we have major effect as trade stands.