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Posted by Rick [24.127.145.126] on Saturday, November 13, 2010 at 00:47:39 :
In Reply to: Re: GM to sell equity stake to China posted by mannyc [68.165.89.2] on Friday, November 12, 2010 at 08:40:33 :
So China buys a stake in GM, the government devalues the dollar. So the government then prints money like it is going out of style and buys back GM from China with worthless dollars. Meanwhile we have hyperinflation to try to adjust.
It is inflating our way out of the hole. Why do you think that the Obama wants the Chinese to stop pegging thier currency to the US dollar?
Rick