Re: Sarkozy Pushes for Abandonment of Dollar as World Reserve Currency
[Skip to the end] (email exchange) The dollar is a world reserve currency only because we are the only ones who ‘allow’ a trade deficit.
[Skip to the end] (email exchange) The dollar is a world reserve currency only because we are the only ones who ‘allow’ a trade deficit.
[Skip to the end] He’s not quite there. Yes, they need a ‘fiscal authority’ but he doesn’t see it’s function as providing the deficit spending