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I get the idea the British would absolutely love it if the pound became the global reserve currency. Especially since a lot of people would really like it if it
by owenversteeg 7y ago
I get the idea the British would absolutely love it if the pound became the global reserve currency. Especially since a lot of people would really like it if it appreciated in value again after its serious Brexit drop.
- mooreds 7y agoThis article talks about some of the costs of becoming a reserve currency: "...I do not think that the role of the dollar provides for the US any “exorbitant privilege”, contrary to what many suppose. Rather, I have argued, it creates an exorbitant burden for the US economy, one that forces the US to choose between higher debt and higher unemployment whenever a country takes steps to force up its savings rate or, which is pretty much the same thing, to force up its current account surplus." https://carnegieendowment.org/2012/11/17/is-there-asian-rmb-bloc-pub-50175 https://carnegieendowment.org/2012/11/17/is-there-asian-rmb-...