But this need not and in today's febrile environment must not mean dumping existing dollar reserves.
The broad-money supply grew last year at an annual rate of 15-40% in GCC countries, according to Standard Chartered.If, as seems likely, some GCC members let go of their existing dollar pegs, what might they put in their place?
I pray that the Connecticut General Assembly might pass a simple law that allows political contributions within the existing dollar limits only from the individual constituents of the office being sought; no bundling, no political action committees, no ad books.
Roberts predicts that Ukraine's foreign debt is about to double, "as it takes on new debt from the IMF and the cost of existing dollar and euro-debt jumps as the hryvnia is devalued".
Despite the opprobrium heaped on them, the Chinese do not want to see the Fed's hands tied by a dollar crisis; nor do they want to see the euro zone, one of their best markets, slow sharply; and they have little interest in the external value of their existing dollar reserves plunging.
In their paper, "Currency Substitution–Unofficial Dollarization and Estimates of Foreign Currency Held Abroad," Feige, Faulend, Sonje and Sosic estimate that 40% to 60% of existing U.S. dollars circulate outside of the U.S.
Our political representatives have tried everything except the only thing that will work, which is to spend existing infrastructure dollars with small businesses.
Reallocating existing technology dollars toward online learning--from insuring equitable access to improving curriculum and professional development--would be more productive.
The brief plan, outlined in a 232-word news release, says the money would come from redirecting existing education dollars, but did not specify which programs would need to be cut. .
