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Originally posted by ChrisJr03
If they get rid of their Dollars, we won't be able to buy from them which means they will lose their biggest buyer; the same goes for China.
It would be wise for them not to bite the hand that feeds...
Israel asks U.S. foreign aid be paid in EUROS
Secretary of State Rice has acknowledged a communique from Israeli foreign minister Tzipi Levni which requests that all foreign aid payments and loans from the United States be made in Euros rather than in Dollars. Foreign Minister Levni cited the rapidly declining dollar and it's disfavor as a world currency as reasons for the request.
"In the spirit of Yom Kippur, the United States will not hold Israel to any agreements obligating them to accept Dollars as payment for their foreigh aid. We will translate our obligations into Euros or whatever currency that best fits Israel's needs" Secretary RIce said in the Friday, Sept 21 announcement.
"We need to place our Israeli obligations at the top of our national prioriy list. Israel should not suffer any inconvenience due to currency fluctuations" said Rice before heading off to Camp David.
A similar request from Egypt was declined last week.
Originally posted by bg_socalif
It also means a probable increase in tourism to the US. Since the exchange rate will be favorable for their currency.
Originally posted by Truth4hire
One Euro is now 1.42281.
It looks like the Dollar fall it is accelerating...
Not sure what to think of this, but in any case not a good think for the U.S. economy........ Does anyone know what is supposed to be critical mass here? The point where the chinese start to dump their dollar holdings? (Currency nuclear winter)