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I'm currently reading Currency Wars by James Rickards. In it, he says that one way for a nation to boost its exports is to depreciate its currency by printing money. For example, let's say that the price of a German car is 20,000 marks or 20,000 US dollars. And let's say the exchange rate...
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The US government does not really borrow US dollars from US banks to pay for its expenses. The US congress passes laws that authorize Federal Reserve Board (via Chairman Ben Bernanke) to buy some paper and then print a bunch of new interest bearing paper currency instruments in varying amounts with the...
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[quote user="Libertarian_for_Life"] According to Ch. 12 in "Economics in One Lesson", in the scenario in the 2nd paragraph, the British importers pays in pounds, then through exchange or direct buyback, someone in America must buy something from Britian because he can't use the...