Porter Stansberry Quotes

If a currency is to become a growing, an increasing reserve currency, there has to be not only a demand for it there has to be a supply of it.

The major material advantage, financial advantage from having a reserve currency is that between 200 and 300 billion dollar bills, that may be twenty, fifty, hundred dollar bills as well as ones, exist in the world - a lot of them in Russia as you all know I'm sure.

The dollar is currently the principal reserve currency in the world.

The reserve currency role seems to add prestige to an area and some people in Europe have talked about the desirability of the euro becoming an international reserve currency.

Sometimes, if a country's currency is overvalued in real terms, and it looks like the current account is going to be in deficit for the foreseeable future, devaluation can make sense.

A stronger dollar increases U.S. dollar purchasing power.

Chances are the movements of the euro as against the dollar will be relatively moderate.

China needs a currency that reflects underlying economic fundamentals.

But then in April of 1985 the dollar began a sharp decline. The dollar's trade weighted value fell 23 percent in just 12 months and by a total of 37 percent by the beginning of 1988.

What there is no dispute about is whether or not China is a currency manipulator. They are a currency manipulator. They actively intervene every single day to keep the value of their currency less than it would be against the dollar than if it floated freely. We think. Even China barely disputes that.

A weaker currency is a national tariff. After we get a weaker currency, we have to take advantage of that. Or else, we will waste it once more in inflation and in the inability to raise competitiveness.

Many of the worst crises occur when there is a financial collapse in a country with pegged exchange rates. Both successful and unsuccessful defenses of a pegged exchange rate require large expenditure of foreign exchange reserves that could be used for investment or consumption. Both also require strong deflationary measures that severely reduce income, wealth, and living standards.

A stable currency and an excessive external debt are incompatible. A similar relation holds as between a country's currency and an excessive internal debt

The U.S. currency has been the most attractive currency to be in for very, very long periods of time.

I understand that the rupee is fairly market determined.

To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world.

The most important initiative you could take to improve the world economy would be to stabilize the dollar-euro rate.

The uncontrolled increase of the euro rate vis-a-vis the dollar threatens employment growth in the euro area.

My theme this evening is that America needs a competitive dollar.

There's a lot of companies that profit from a weak dollar.

But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries.

If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.

So if the euro, if Euroland is to become a reserve center, if the euro is to become a reserve currency, Euroland will have to have a deficit in its overall balance of payments.

Another question has been raised rather widely in Europe, in Japan as well as in the United States is what, to what extent will the euro become a reserve currency.

We believe in fair exchange rates and Japan doesn't practice that. They have massive U.S. dollar reserves, and they use them to intervene regularly.