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Dear iTulip,
EJ dropped this nugget in a recent post:
The bonar inflation will end when the bonar is tied to a new currency, now in the early stages of negotiation with the Chinese et al, according to our sources. Looks like the IMF may have a new role after all.
Can you share any more information or speculation about the new currency? I have heard talk of the 'Amero' for the US, Canada & Mexico, but from your comment it sounds like the Chinese would also share this currency. What about OPEC, would they be part of "et al"?
I know one drawback to the euro is that it has no bond market due to its multinational nature. Wouldn't this be an inherent drawback to a new North American or global currency? Wouldn't the US be constrained in its ability to run large deficits supported by bond sales to foreigners?
Could you please explain what the US and its citizens have to gain and lose from a new currency? What about the other potential member nations? Would this new currency be backed by anything? Perhaps energy, as you suggested recently?
If you could lay out how a hypothetical currency transition might happen, that would be a tremendous help.
Thanks.
Jimmy
EJ dropped this nugget in a recent post:
The bonar inflation will end when the bonar is tied to a new currency, now in the early stages of negotiation with the Chinese et al, according to our sources. Looks like the IMF may have a new role after all.
Can you share any more information or speculation about the new currency? I have heard talk of the 'Amero' for the US, Canada & Mexico, but from your comment it sounds like the Chinese would also share this currency. What about OPEC, would they be part of "et al"?
I know one drawback to the euro is that it has no bond market due to its multinational nature. Wouldn't this be an inherent drawback to a new North American or global currency? Wouldn't the US be constrained in its ability to run large deficits supported by bond sales to foreigners?
Could you please explain what the US and its citizens have to gain and lose from a new currency? What about the other potential member nations? Would this new currency be backed by anything? Perhaps energy, as you suggested recently?
If you could lay out how a hypothetical currency transition might happen, that would be a tremendous help.
Thanks.
Jimmy
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