This is about true. Dollars are used internationally at the same rate as inside the United States (50/50). Forty percent of all loans outside of the United States are denominated in dollars.Niemand wrote: ↑October 30th, 2022, 3:46 amThey shut down the machines round here.Christianlee wrote: ↑October 29th, 2022, 1:02 pm I try to use cash as often as possible. We still have stores that only accept cash.
The other problem we have that Americans don't, is that our bank notes (bills) are changed on a regular basis. (Once or twice a decade.) This is allegedly to stop forgery but it forces people to dig out all the old money they have under their mattress. Pre-decimalisation (around fifty years ago), many old coins were in circulation, but they get changed regularly too.
The reason the USA can't do this is probably that the USD is such an international currency that it would invalidate many of the ones abroad. I have suspected for years that there are probably far more dollars (both fake and real) in circulation outside the USA than there are supposed to be.
This "eurodollar" loan situation is really what drives demand for the dollar, especially as US interest rates rise. Foreign businesses need more dollars to pay loans as rates rise which causes the dollar to rise against local currency as dollar demand increases. It's pernicious.
