There are two potential definitions of “reserve currency.” The first is quantitative and weak: do other countries hold official foreign exchange reserves in that currency?
And it is worth pointing out that there is no "official" definition of "reserve currency". The IMF tends to use the 'quantiative and weak' version. However, I would argue that the stronger definition is regional. Put the USD to the side and look at the Australian dollar in the Asian-Pacific markets as an example.
Well, I have two books underway which are currently frozen. The other problem is that I’m not an international trade person - I just know about the financial constraints reserve managers face (since it’s just a multicurrency portfolio).
I guess that is a good enough excuse. I am not an expert in all things Social Security, but i mostly accidentally discovered something important than no one else talks about and only a few people understand, I think it is important enough so that I am trying to write a book to explain it, though it seems to me that two sentences should be enough to explain the whole great big stupid Social Security deficit "debate." Having trouble trying to write it so anyone would read it, understand it, do anything about it. It seemed to me you might be in the same position vis a vis the bond market, Certainly I don't know enough about it to really understand what you say here, and I would bet that is the case for a lot of readers who think you have something to say.
And it is worth pointing out that there is no "official" definition of "reserve currency". The IMF tends to use the 'quantiative and weak' version. However, I would argue that the stronger definition is regional. Put the USD to the side and look at the Australian dollar in the Asian-Pacific markets as an example.
Brian
please write a book that explains all this.
really explains it.
Well, I have two books underway which are currently frozen. The other problem is that I’m not an international trade person - I just know about the financial constraints reserve managers face (since it’s just a multicurrency portfolio).
Brian
I guess that is a good enough excuse. I am not an expert in all things Social Security, but i mostly accidentally discovered something important than no one else talks about and only a few people understand, I think it is important enough so that I am trying to write a book to explain it, though it seems to me that two sentences should be enough to explain the whole great big stupid Social Security deficit "debate." Having trouble trying to write it so anyone would read it, understand it, do anything about it. It seemed to me you might be in the same position vis a vis the bond market, Certainly I don't know enough about it to really understand what you say here, and I would bet that is the case for a lot of readers who think you have something to say.