Originally posted by AKIron
I think you're wrong. There are many countries willing to trade their goods for US dollars. If the French have no need of buying anything from anyone could they not trade them for a currency you deem more valuable?
Well, some third world nations, but what would France want to buy from them?
France goes to Japan and says, "Bonjour, we want to buy $6.5 billion dollars worth of consumer electronics from Sony.".
"Ah-so," says Japan, "what are you going to use to buy the yen you need to buy the product from Sony?".
"Well we have these 6.5 billion USDs we got this year up to Augest.", France mentions hopefully.
And Japan responds, "...yeah thanks but no thanks. You see we got almost 50 billion of the stupid thing so far this year (the US has an almost 50 billion dollar trade deficit with Japan as of August this year). We'll take your Euros though.".