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**BDDkDvgZ** · 01-12-2009, 09:41 PM

According to http://en.wikipedia.org/wiki/Nixon_S...n_Woods_system The USD no longer pegged with gold.

The trouble with the US begins when it started to print fiat money in the 70s (it only cost a few cents to print a dollar)

Because USA have the world's reserve currency and it prints money at will. It becomes other countries' problem if the USD becomes problematic.

http://www.thehindubusinessline.com/...0100010900.htm

"The persistence of the "dollar" problem recalls an interesting statement by a US Secretary of the Treasury, Mr John Connolly. He told his fellow Ministers in 1971 that "the greenback was the US's currency; it was the world's problem".

The dollar and its problem have haunted the global economy since World War II"

01-12-2009, 09:41 PM	#6
BDDkDvgZ Join Date Oct 2005 Posts 473 Senior Member	According to http://en.wikipedia.org/wiki/Nixon_S...n_Woods_system The USD no longer pegged with gold. The trouble with the US begins when it started to print fiat money in the 70s (it only cost a few cents to print a dollar) Because USA have the world's reserve currency and it prints money at will. It becomes other countries' problem if the USD becomes problematic. http://www.thehindubusinessline.com/...0100010900.htm "The persistence of the "dollar" problem recalls an interesting statement by a US Secretary of the Treasury, Mr John Connolly. He told his fellow Ministers in 1971 that "the greenback was the US's currency; it was the world's problem". The dollar and its problem have haunted the global economy since World War II"
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