Robert C. Solomon Quotes

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.

All Nations endeavor to get the [foreign] Exchange as much as they can on their side.

Any country whose currency is used as a reserve enjoys tremendous benefits because those currencies gain a significant discount to financing costs.

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

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

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

The United States dollar took another pounding on German, French and British exchanges this morning, hitting the lowest point ever known in West Germany.

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.

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.

Hegemony of the dollar.

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.

… international confidence is the foundation stone of international credit, and international credit is essential to international trade.

If the Chinese economy can be opened so that currencies are convertible, Chinese tourists can take money and go see the world. Chinese businessmen can go and buy property in the U.S. and France and every place. All of a sudden, it's just going to be a blossoming global economy. I think it's going to be good for everybody.

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.

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

China needs a currency that reflects underlying economic fundamentals.

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.

When a nation devalues its currency, it, in effect, increases its tariffs.

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.

There are a few things that people all around the world need to admit to themselves. Trade restraints slow economic growth, the euro is not a reserve currency, and scoreless sports ties are boring.

A strong dollar reflects a strong country and a strong economy, and we need to make sure that we get the - stop the practice of devaluing the dollar.

I understand that the rupee is fairly market determined.

When financial sectors are small and capital is mobile, floating exchange rates spell massive currency volatility. When a lot of foreign capital flows in, a freely floating exchange rate rises sharply, wreaking havoc for domestic banks and exporters alike.

The most important thing that most countries around the world believe in is letting the markets determine the currency.