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I'm wondering if it may be more illuminating to consider reserves as formalised political and economic relationships rather than piles of cash with a nominal value, and a also rudimentary type of international credit rating.

Declining value may not matter if you get benefits in kind - e.g. China and the US.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Sat May 31st, 2008 at 12:52:16 PM EST
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