Robert C. Solomon Quotes

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.

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 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.

Hegemony of the dollar.

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

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

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

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

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

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.

There has been talk in Europe about American hegemony being somehow based upon the use of the dollar in the world. I just don't see that connection at all.

The most important quality of a currency is its stability.

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

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

In 1971, the U.S. 'closed the gold window,' starting an era of global fiat money reference-pricing that has been unprecedented in history. Never before had the world operated on the basis of no country anywhere having a currency tied to something with intrinsic value like gold.

A global economy requires a global currency.

The rest of the world wants our cash; we like plastic.

To the extent that the United States has, I don't like the word hegemony, the United States has influence around the world, I don't think that's based on to any significant degree on the fact that countries use the dollar as their major reserve.

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

China needs a currency that reflects underlying economic fundamentals.

You've had an extremely weak euro on the foreign exchange markets, you've had a very dubious policy being followed.

Eventually the dollar won't always rule. Eventually there will be a challenge to the United States and it will have to be like other countries that are a bit concerned about their currency, and then have to ratchet back in order to - right, in order to sustain. We just haven't reached that point yet.

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.

The 200 years when Britain and the US were the top two economies were an aberration and that will change. The decline of empires has happened much faster than folks think. I believe that gold will be a far better bet in 20 years than the dollar.