Greenspan on U.S. foreign balance

[Bradford DeLong]

>All they'd have to do is stop buying our securities. Would the 
>Marines parachute into trading floors in the City of London and 
>demand portfolio rebalancing at the point of a bayonet?
>
>Doug

So then the dollar falls in value until they start buying our goods. 
It's a problem. But because of the unique and peculiar role the $$ 
plays as world unit of account, it would be (IMHO) a problem rather 
than the catastrophe it would be for nearly any other country...