#53: coffee, cocaine, currency
Who says Colombians and North Koreans don't love the US Administration? They adore US Presidents (the ones on the greenbacks), so much so that they "generate" their own. It's the same in so many parts of the world .... from the street corners in Kabul to Buenos Aires. 60% of dollar bills in circulation are outside US!
My friend Erin recently emailed .... "I'm in Beirut and my econ mind is racing. I wish I had time to do some research on the inflation and the extensive use of the US$ here. Things are so expensive! Change from meals or goods come back in US$".
But all is not hunky-dory. Currency forgers in Colombia have switched to faking Euros. If that's not an indictment of the current administration's economic policy, I don't know what is. The market is speaking loud and clear; the bosses at the Treasury are just not listening.
My friend Erin recently emailed .... "I'm in Beirut and my econ mind is racing. I wish I had time to do some research on the inflation and the extensive use of the US$ here. Things are so expensive! Change from meals or goods come back in US$".
But all is not hunky-dory. Currency forgers in Colombia have switched to faking Euros. If that's not an indictment of the current administration's economic policy, I don't know what is. The market is speaking loud and clear; the bosses at the Treasury are just not listening.
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