An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
USD is better than gold. For one, lighter so easier to carry around.
When I used to work as a waiter, downtown Montreal, American tourists were the best customers. They were the friendliest and the best tippers; they paid in USD. At the end of a shift, those waiters with a lot of USD would hold an auction for those dollars if they so wished with the other restaurant employees. Why? Because they'd get more for their dollars than from any exchange (bank...).
Yeah, this was my first real life exposure to USD zombie behavior and USD-CND conversion factors (the concept of unity: x USD = y CND).
I used to take taxis in in China the fare would be like $20 at the exchange rate then when I pulled out my wallet and still had a few $1 bills in it that I still had brought with me the cabbie would point towards it and say he’d take whatever amount of those instead….
Never underestimate the power of USD zombieism…
Truth be known that’s probably what’s behind this delayed Soviet civil war going on right now in Ukraine area… one Soviet faction fighting another for additional/continuing access to USD balances….
5 comments:
He’s trying to whitewash USD zombieism by trying to make it sound like a general case…
There are only certain specific currency that foment that behavior..,
USD, EUR, GBP, some others…
USD is better than gold. For one, lighter so easier to carry around.
When I used to work as a waiter, downtown Montreal, American tourists were the best customers. They were the friendliest and the best tippers; they paid in USD. At the end of a shift, those waiters with a lot of USD would hold an auction for those dollars if they so wished with the other restaurant employees. Why? Because they'd get more for their dollars than from any exchange (bank...).
Yeah, this was my first real life exposure to USD zombie behavior and USD-CND conversion factors (the concept of unity: x USD = y CND).
I used to take taxis in in China the fare would be like $20 at the exchange rate then when I pulled out my wallet and still had a few $1 bills in it that I still had brought with me the cabbie would point towards it and say he’d take whatever amount of those instead….
Never underestimate the power of USD zombieism…
Truth be known that’s probably what’s behind this delayed Soviet civil war going on right now in Ukraine area… one Soviet faction fighting another for additional/continuing access to USD balances….
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