, Port Arthur, Texas

Letters to the Editor

May 8, 2011

Yuan in a trillion

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

Text Only
Letters to the Editor
Raw: More Than 100,000 Gather for Easter Sunday Raw: Greeks Celebrate Easter With "Rocket War" Police Question Captain, Crew on Ferry Disaster Raw: Orthodox Christians Observe Easter Rite Ceremony Marks 19th Anniversary of OKC Bombing Raw: Four French Journalists Freed From Syria Raw: Massive 7.2 Earthquake Rocks Mexico Captain of Sunken SKorean Ferry Arrested Raw: Fire Destroys 3 N.J. Beachfront Homes Raw: Pope Presides Over Good Friday Mass Raw: Space X Launches to Space Station Superheroes Descend on Capitol Mall Man Charged in Kansas City Highway Shootings Obama Awards Navy Football Trophy Anti-semitic Leaflets Posted in Eastern Ukraine Raw: Magnitude-7.2 Earthquake Shakes Mexico City Ceremony at MIT Remembers One of Boston's Finest Raw: Students Hurt in Colo. School Bus Crash Deadly Avalanche Sweeps Slopes of Mount Everest
Sports Tweets