A Quote by Lloyd Blankfein
I am specifically concerned about the idea that the legislative process is one that gets characterized the way it is as the 'fiscal cliff.' At the end of the day, the United States is the biggest economy in the world, and the dollar is the reserve currency in the world. I think it behooves us to act in a much more responsible way.
Related Quotes
My single biggest financial concern is the loss of the dollar as the reserve currency. I can't imagine anything more disastrous to our country. . .you're already seeing things in the markets that are suggesting that confidence in the dollar is waning. . .I think you could see a 25% reduction in the standard of living in this country if the U.S. dollar was no longer the world's reserve currency. That's how valuable it is.
The United States has the world's largest and most innovative economy, an unmatched rule of law, and a free market that is the envy of the international community. For investors, we are the reserve currency.
To the extent that the United States has, I don't like the word hegemony, the United States has influence around the world, I don't think that's based on to any significant degree on the fact that countries use the dollar as their major reserve.
China became the second biggest economy in the world by pegging their currency to the dollar at an artificially cheap rate.
The ideals and the values of the United States inspired the entire world. I don't think any of us can say that our standing in the world now, the way children around the world look at the United States, is the same. And part of what we need to do is to send a message to the world that we are going to invest in issues like education, we are going to invest in issues that relate to how ordinary people are able to live out their dreams. And that is something that I'm going to be committed to as president of the United States.
I do think some digital currency will end up being the reserve currency of the world. I see a path where that's going to happen.
By using general consumption PPPs, the World Bank is, in effect, saying to the poor: "Sure, you cannot buy as much food as the dollar value we attribute to your income would buy in the United States. But then you can buy much more by way of services than you could buy with this PPP equivalent in the United States." But what consolation is this? The poor do not buy services - they are services, on their luckier days.
The dollar is the reserve currency of the world.
[Invading Iraq] is not the best way to make a safer world in which the United States would be a responsible partner, but it also goes against the role of law in the United States.
The dollar is currently the principal reserve currency in the world.
I think growing an economy is a good way to help with a deficit, but ultimately, it's about fiscal discipline and responsible spending - and smart decisions.
The United States is pushing as policy division of the world into rival currency camps - the dollar area on the one hand, and the Russia-Chinese-Shanghai Cooperation Organization group on the other, especially now that the IMF has changed its rules. People think that if there are rival currency groupings and national currencies are going bust, we might as well use gold as a safe haven.
All Americans should be concerned about the potential for China to replace the United States as the most important economy in the world.
The Federal Reserve Act as it stands seems to me to open the way to a vast inflation of the currency. I do not like to think that any law can be passed that will make it possible to submerge the gold standard in a flood of irredeemable paper currency.
Probably in 2035 we will pass that mantle on to China. It will be the biggest economy in the world, and it will go way past us and way past India. Given the growth, the size, the opportunities, I don't think there's any other place in the world that can match it.
Don't forget Drive-By Media think that most of the so-called victims in the world are in that state because the United States has not been compassionate or fair enough when there have been Republican presidents or Republican Congresses. They don't see the United States as a way out, as a way up. They see the United States as a collection pool, if you will.
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