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posted by
RavenDarke
on March 31, 2004 at 9:22 AM
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A Mere...
..3% of the money in circulation around the world is in notes and coins - the rest is virtual.
In terms of national debts, there are some weird ironies floating about.
The USA owes almost as much as the entire developing world, including China, Brazil and India. However, it only pays $20 billion a year to service this debt, whereas the developing world is crippled with having to find $300 billion a year to service the same amount, as they are considered 'risky'.
Poor countries borrow from the US at 18% interest, but lend to the USA at under 3%. Which means the USA debt is being financed by the developing world, as they are also forced to hold dollar reserves in order to service their debts.
And it ain't getting any better. US trade deficit in 2000 - $400 billion. 2002 - 4500 billion. 2004 - expected $700 billion.
D
posted by
DamonLeigh
on March 31, 2004 at 8:09 AM
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The madness of reply
Kwilliams, thanks for reading it and registering your feelings
Raven Darke
posted by
RavenDarke
on March 30, 2004 at 10:39 PM
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pretty long, but I was here.
posted by
Chaltuu
on March 30, 2004 at 2:30 PM
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