Can China do this only similar to how banks emanate income out of skinny air around debt? Assuming a US pays behind a debt, China will be richer. But, if US defaulted, it doesn’t make a difference to China since they only conjured up a income in a initial place.
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Rush is a band
August 29th, 2009 at 2:28 pm
Banks do not emanate income of out skinny air. They have deposits from people with assets as well as checking accounts. They loan out this money…
China could loan dollars out too. They have a garland of them from US people shopping some-more chinese products than chinese buy american goods.
good luck!
No a single can only ‘conjure up money’. That isn’t a approach a systems work.
Aleks
August 29th, 2009 at 2:28 pm
As distant as we recollect they conjure up the lot of tough great as well as get paid with American ethereal money.. as well as afterwards they lend it behind to America.
Kat.
August 29th, 2009 at 2:28 pm
I hold they’d have to have an next to volume of bullion to behind up a combined money, or it isn’t money, only paper.
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