Love can be understood only 'from the inside,' as a language can be understood only by someone who speaks it, as a world can be understood only by someone who lives in it. Robert C. Solomon insidelanguagelive Change image and share on social
The reserve currency role seems to add prestige to an area and some people in Europe have talked about the desirability of the euro becoming an international reserve currency. Robert C. Solomon addareacurrency Change image and share on social
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. Robert C. Solomon basecountrydegree share on social
On private transactions, I'll just go very quickly now, a major difference between the United States and Euroland is that in Europe banks are much more important in financial transactions than in the United States. Robert C. Solomon bankdifferenceeuroland share on social
Some countries that are close to Europe that already hold Deutschemarks, clearly would automatically hold euros, those are countries in Eastern Europe mainly, a few countries in Africa. Robert C. Solomon africaautomaticallyclose Change image and share on social
The dollar is currently the principal reserve currency in the world. Robert C. Solomon currencydollarprincipal Change image and share on social
So if the euro, if Euroland is to become a reserve center, if the euro is to become a reserve currency, Euroland will have to have a deficit in its overall balance of payments. Robert C. Solomon balancecentercurrency Change image and share on social
The prices of all imports would rise if the dollar depreciates. Robert C. Solomon depreciatedollarimport Change image and share on social
The major material advantage, financial advantage from having a reserve currency is that between 200 and 300 billion dollar bills, that may be twenty, fifty, hundred dollar bills as well as ones, exist in the world - a lot of them in Russia as you all know I'm sure. Robert C. Solomon advantagebillbillion share on social
Back in those days, in the fifties and sixties, countries had balance of payment's deficits or surpluses, those were reflected much more than today in movements of reserves among countries. Robert C. Solomon backbalancecountry Change image and share on social
