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It does. But that advantage needs to be weighted against the way it enables asset-stripping, Anglo Disease style.

Which is why I think it might make more sense to be a global reserve currency rather than the global reserve currency.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Jan 13th, 2009 at 10:55:05 AM EST
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