One who intends to leave others better off for his having existed.

1/1/10

If credit peaks does employment, globalization and peace?

To avoid the shortcomings of sovereign credit currencies


acting as reserve currencies,


we need to create an ... international reserve currency


that can maintain the long-term stability of its value.


 


People's Bank of China


 


If US dollars became redeemable only for themselves in 1971,


why are most international financial transactions


still denominated in American currency?


 


What would happen if international financial transactions


become denominated in assets other than US dollars


and Federal Reserve Note supplies exceed demand?


 


If one day the world's largest oil producers


 demanded euros for their barrels,


it would be the financial equivalent of a nuclear strike.


 


Bill O'Grady

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