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RE: Re: Re: Re: Protectionism US style

Ulhas writes:>Why does the world continue to accept debt payment in dollars?
I remember De
Gaulle refusing dollars and demanding payment in gold in '60s.<

because the U.S. is the most powerful country in the world and in the era
since 1971-73, money based on political-military power has replaced money
based on precious metals.

Jim Devine jdevine@xxxxxxx &  http://bellarmine.lmu.edu/~jdevine
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