From what I understand they did not print any money, what they did was get people, Americans, to borrow credit. The credit they borrowed was turned into dollars spent to purchase goods from other countries, but because these countries held the dollars instead of spending them on American products, these dollars have not returned to the States and there is a shortage of dollars on the American market. There is no shortage of dollars in China or Japan and if they were to spend these dollars on American products, there would be no need to print or issue more credit. Now the good thing is that we did not have gold backing these dollars when markets were opened with China, since they would be holding all the gold, instead they are holding paper. Unfortunately for us, these dollars still have some value, and are still accepted to purchase goods between foreign nations. Petroleum is one of the products being bought up by the Chinese and hence the rise in price of petroleum and other commodities being bought up on the foreign markets. And unfortunately for us they are using dollars and not spending them here on our economy.
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