Re: Sarkozy Pushes for Abandonment of Dollar as World Reserve Currency
November 14, 2008 at 06:48 AM EST
[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. With a trade deficit, the rest of world is long your currency. With a trade surplus, like japan, the world is short your currency. The eurozone wants a trade surplus and to be [...]