Eventually, the supply
of dollar reserves held abroad exceeded the US stock of gold, implying that the United States could not maintain complete convertibility at the existing price of gold — a fact that would not go unnoticed by foreign governments and currency speculators.
Jindal set aside $ 10 million for the program from the state's general fund, rather than from
dollars reserved for the MFP.
Acting - President, Yemi Osinbajo has explained that corruption and the vandalization of pipeline facilities in the Niger - Delta region were responsible for the reduction in the volume of
Dollar reserved with the Central Bank of Nigeria (CBN).
This caused a run on gold so extensive that in 1971, President Nixon felt obligated to stop
backing dollar reserves with it.
The People's Bank of China has been selling US
dollar reserves at an alarming rate to maintain an orderly devaluation, and there is a more - than - trivial risk that it loses control should pressures continue to intensify.
If the US dollar is given the right weight in that basket, it could then maintain the same
foreign dollar reserves.
For a time, the demand for US dollars was satisfied by an increasing balance of payments shortfall, and foreign central banks accumulated more and
more dollar reserves.
Growth in the global economy should naturally require that the rest of the world
accumulate dollar reserves, and so it is natural that the US run current account deficits as the world accumulates dollars.
Recently, Tether has drawn the ire of cryptocurrency enthusiasts who suspect that the company is creating the USDT without possessing
actual dollar reserves.
«I wouldn't be surprised to see more interest in
Canadian dollar reserves,» said Dan Katzive, director of foreign exchange strategy at Credit Suisse in New York.
It is alleged that ruble is only a shadow of dollar because the central bank is allowed (by the USA) to issue only as much rubles as they have
dollar reserves on the US accounts, so that ruble is the «colonial dollar» and nothing more.
This could happen again, but it will take a large central bank that acknowledges that they have embedded losses on their US bond portfolio not reflected in current prices, and then works to limit their losses by
eliminating dollar reserve.
The dollar's fall against the euro and the growth in emerging
economies dollar reserves are thus both manifestations of the same basic trend — a lack of private demand for dollars, relative to the US current account deficit, and the resulting pressure for the dollar to fall...
I ended up closing two lines of business that could not meet return goals, and found two centimillion -
dollar reserve errors.
As with most frequent flyer programs, the TrueBlue program allows you to earn points whenever you
spend dollars reserving JetBlue flights.
It highlights common fears about the stablecoin which is claimed to be fully covered by
U.S. dollar reserves.
Waves, a Russian decentralised platform for launching crowdfunding campaigns and issuing digital assets, has announced that its users can now deposit USD via the secure gateway, receiving in return a token that is 100 % backed
by dollar reserves.
Bitmex added that Tether may have
US dollar reserves in a Puerto Rican bank account, which is believed to be a cryptocurrency tax haven.
The central bank has been rationing
its dollar reserves through regular weekly sales, keeping the pound artificially strong at 8.78 per dollar but black market traders said they were selling dollars at a range of 11 - 11.04 per dollar on Sunday, without giving volumes of trade.
But Minor says Uphold is about «breaking down all of the banks into a single reserve — we need
a dollar reserve, we need a pound reserve.
At some point, if these policies are inflationary, then the vigilantes or those that hold
dollar reserves, such as China and Brazil and Mexico, they will be in the driver's seat in terms of longer - term Treasury debt, 10 years and 30 years Treasury debt in terms of their yield.
After all the US demand that China revalue the RMB is also a demand that the PBoC stop increasing US
dollar reserves.
If foreign central banks were limited in their ability to stockpile US
dollar reserves, foreign exchange transaction costs would barely budge.
The Chinese businesses and individuals have amassed a lot of wealth, most of it held in US
dollar reserves and treasury stock backed by the dollar.
Russia, China, and other Asian countries have figured out that
the dollar reserve system is the mechanism of their economic enslavement and have started to prepare their liberation by accumulating gold in a big way before gold is formally reinstated as the world reserve currency or as a big part of that new reserve currency.
The hack led to speculation online and in the press that Tether did not hold
the dollar reserves it claims are backing its cryptocurrency.
As long as China runs a trade surplus with the US, it's building up
dollar reserves.
There's not much it can do with
those dollar reserves other than lending them to the US, or spending them with someone else in a third country who will then lend them to the US.
Second, international deals often use US dollars because of
the dollars reserve status.
The global money stock could expand through
dollar reserves.
This may shift if enough countries experience inflation from the buildup of US
dollar reserves that they do not need, and allow their currencies to appreciate versus the US dollar.
Also, excess
dollar reserves often produce excess credit, if the central bank allows the money supply to grow from the dollar reserves, which can lead to credit - induced inflation.
The Saudis may not want to produce more, because they don't know what to do with all the US
dollar reserves that they have today.
And what will they do with all of
those dollar reserves?
(«What will we ever use all
these Dollar reserves for?»
The dollar reserves are worth less and less on a relative basis, and they keep coming in.
After all, you can't have too much in the way of US
Dollar reserves, can you?