PORT NECHES —
The yuan is what the people in China use for money. None of my friends and probably very few congressmen have ever heard of a yuan.
For the past three years, one dollar would buy exactly 6.83 yuan. One year ago the value of the yuan started a steady decline. Six months ago it was 6.67, one month ago it was 6.57, four days ago it was 6.56 and it is now 6.54.
Our government owes China 3.5 trillion dollars. The numbers go thousand, million, billion, trillion. The 3.5 trillion would be written 3.5 followed by 12 zeros. Had China demanded payment of this loan one year ago, it would have cost us 23.9 trillion yuan. If we pay off this loan today it will cost only 22.9 trillion yuan. It is getting better every day. I am no expert on any of this international finance.
William T. Comiskey
Port Neches
Letters to the Editor
May 8, 2011
Yuan in a trillion
- Letters to the Editor
-
- We need to stop politics for the benefit of the few
- Thanks offered for election work
- ‘Obamacare’ stomps on our Constitution
- Worst possible time for tax election
- Look around puts PAISD's tax-increase request in perspective
- Make the hard choice for tax increase
- Citizens should turn down tax hike
- Help PAISD to continue to improve
- Vote for Tax Ratification in PAISD
- Tax rate should have been reduced
- More Letters to the Editor Headlines
Officials: Truck Hit Bridge Before Collapse
Sheriff: No Sign Killing of 2 Kids Was Planned
Obama Defends Drone Strikes, With Limits
Raw: Jurors Deadlock on Jodi Arias Penalty
Boy Scouts Decision "First Step" Say Activists
Raw: Utah Teen Arrested in Death of His Brothers
Closer Look at Okla. School Where Children Died
Two Suspects in Murder Known to London Police
Boy Scouts Mom Supports Gay Inclusiveness
"Be Ready": NOAA Warns of Busy Hurricane Season
SeaWorld: Penguins Are Coolest Thing in Florida
Obama Renews Call to Close Gitmo
Obama Offers Drone Strike Defense
Raw: Heckler Interrupts Obama on Guantanamo
A Slice of Apple History Up for Grabs
