iyamwutiam

It's Good to Be the World's Reserve Currency

Dear BS- corrected upon the quotes - sorry.

Did you read the article? Henry CK Liu is an excellent economist and one of the true thinkers of our time. I encourage you to read his works at henryckliu.com

It's Good to Be the World's Reserve Currency

The persistent expansion in the money supply has been accompanied by a decline in the efficiency of money to generate GDP. In 1981, two dollars in the money supply (M3 - $2 trillion) yielded three dollars of GDP ($3 trillion), a ratio of two to three. In 2005, $10 in the money supply (M3 - $10 trillion) yields $12 of GDP ($12 trillion), a ratio of two-and-a-half to three. It now takes 25% more money to produce the same GDP than 25 years ago. That 25% is the unproductiveness of debt that has infested the economy, not even counting the unknown quantity of virtual money that structured finance creates.

from www.atimes.com/atimes/...

Henry CK Liu for Federal Reserve Governor is all I say