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Re: Federal Budget Deficit Expected to Reach Over $300 Billion Next
On Sun, 19 Jan 2003 17:25:18 -0500,
"Henry C.K. Liu" <hliu@xxxxxxxxxxxxxx> wrote:
>Warren Mosler wrote:
>
>>It doesn't matter what currency oil is 'priced in.'
>>What matters is what currency the seller of oil
>>decides to 'net save.'
>
>But with oil enonominated in dollars, the only currency anyone,
>including oil sellers, can net save is dollars. That is the
>definition of dollar hegemony.
Why can't oil sellers sell in dollars and use those dollars
to buy Euro or Yen assets?
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