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It seems to me that printing RMB to buy dollars to pay for a wind farm would depress the RMB against the US$ just as effectively as printing it to buy Uncle Sam's IOUs and stockpile them at the central bank. This not so? And if it is not so, then why aren't more African countries printing local currency and buying out Uncle Sam with it?

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Jul 23rd, 2012 at 03:42:13 PM EST
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