Reply #17: no they aren't

[northzax]

Dollars are perfectly fungible. you can spend them anywhere. or is Saudi Arabia no longer accepting Dollars for oil? China imports food and energy primarily. both are available almost entirely only in Dollars. and you may have noticed, the Dollar has increased in value over the past six months against every fungible marker in the world, gold, oil, Euros, Yen, anything.

here's a little thought experiment. your boss tells you tomorrow that you will be paid in cash next week. your choices are Dollars, Euros, Pounds or Yuan, at the current exchange rate. She will pay you ten percent more in Euros or Yuan to compensate you for the trouble in exchanging it. what do you choose? (you might want to check with your bank, I bet they'll exchange Euros or Pounds, and I bet they will laugh at the idea of exchanging Yuan.

another thought. I offer to buy your car tomorrow. I will pay you ten thousand dollars (let's assume that is the blue book value), 7,400 Euros (just over $10k) 6,500 pounds (just over $10k) or 70,000 Yuan (just over 10K) which do you take? which will buy you a new car?