> The Treasury is the machine you're looking for... In a sense, yes dollars are "destroyed" in that they leave that monetary system.
So are you saying there's an procedure where the US treasury takes USD out of circulation, and the ECB introduces the equivalent in Euro, according to some official exchange rate? How do they set the exchange rate?
You'll need to provide more constructive feedback. Or are you suggesting that it's not "destroyed" and that the origin country can freely transfer money without discounting its books?
There are so many problems with your explanation it's hard to know where to start. Just ask ChatGPT to explain it and go back and forth until it's clear.
Really, it's bad form to comment on something technical where you are just miles out of your depth.
So are you saying there's an procedure where the US treasury takes USD out of circulation, and the ECB introduces the equivalent in Euro, according to some official exchange rate? How do they set the exchange rate?