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thereismore (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 02:37 PM Original message |
A naive question: Does China get our debt as a pile of $ bills and/or gold, or is it virtual money? |
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liberal N proud (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 02:38 PM Response to Original message |
1. We live in a digital world |
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csziggy (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 02:38 PM Response to Original message |
2. It's the same IOUs in treasury bills as Social Security holds, I believe |
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PoliticAverse (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 03:06 PM Response to Reply #2 |
13. You're wrong. (it's a common misconception). |
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csziggy (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 03:16 PM Response to Reply #13 |
14. OK, thanks for that information. I was not sure and that's why I qualified it n/t |
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AlabamaLibrul (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 02:39 PM Response to Original message |
3. Virtual money, more or less. |
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TheWraith (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 02:42 PM Response to Original message |
4. They get treasury bonds, which are essentially IOUs. |
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Cali_Democrat (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 02:42 PM Response to Original message |
5. Dollars are not backed by gold |
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Demeter (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 02:43 PM Response to Original message |
6. While I am Sure There Is Some US Currency in China |
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Gaedel (802 posts) Send PM | Profile | Ignore | Wed Dec-15-10 02:53 PM Response to Reply #6 |
8. China can't call in our markers |
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T Wolf (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 02:51 PM Response to Original message |
7. The replacement of actual currency and gold with "virtual" money has greatly enabled |
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JoePhilly (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 02:54 PM Response to Original message |
9. GIve it to them in WALMART gift cards ... let them buy their crap back. |
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glinda (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 03:03 PM Response to Reply #9 |
10. Nice one! lol! |
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Cali_Democrat (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 03:28 PM Response to Reply #9 |
15. LOL |
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Johonny (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 03:58 PM Response to Reply #9 |
21. I like this idea. |
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Ezlivin (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 03:04 PM Response to Original message |
11. They get fortune cookies |
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woo me with science (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 03:04 PM Response to Original message |
12. All money is virtual money now. |
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Gin (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 03:45 PM Response to Reply #12 |
16. what if they call the loan/cash in the bonds...etc.???? |
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AlabamaLibrul (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 03:47 PM Response to Reply #16 |
17. They "can't", in that the bonds aren't set up to be able to. Whether or not we would be in a |
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Gin (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 03:51 PM Response to Reply #17 |
18. so deficits don't matter because we can print our way out of any |
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AlabamaLibrul (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 03:59 PM Response to Reply #18 |
22. Defecits matter because if we print out way out of any debt to other countries |
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DemocratSinceBirth (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 03:52 PM Response to Original message |
19. When You Owe The Bank One Hundred Dollars You Have A Problem |
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Hannah Bell (1000+ posts) Send PM | Profile | Ignore | Wed Dec-15-10 03:52 PM Response to Original message |
20. they take their trade surplus & recycle it into us debt. win-win. |
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DU AdBot (1000+ posts) | Mon May 06th 2024, 08:19 PM Response to Original message |
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