http://en.wikipedia.org/wiki/List_of_count...change_reserves
Full Version: World Forex Reserves
I can,t ge my head round China $1.6 trillion versis USA $75 BILLION
WEIRD OR WAT
QUOTE(el nino @ May 11 2008, 12:18 PM) 
I can,t ge my head round China $1.6 trillion versis USA $75 BILLION
WEIRD OR WAT
WEIRD OR WAT
Add on 14B for Macau and 160B for Hong Kong
QUOTE(el nino @ May 12 2008, 04:18 AM)
I can,t ge my head round China $1.6 trillion versis USA $75 BILLION
WEIRD OR WAT
WEIRD OR WAT
Y would USA want to hold reserve? Their currency is being used as main tool for trade and many country hold USA currency as their reserves so they dont need big reserves.
Doesn't the USA hold gold rather than dollar reserves?
QUOTE(Sharif Smuggler @ May 12 2008, 07:56 PM)
Doesn't the USA hold gold rather than dollar reserves?
yeh, and many currency hedge against the Dollar, ie fixed exchange rate for those countries is determined.
I think US has stopped the Gold policy way back as gold is scarce.
QUOTE(ali23 @ May 12 2008, 10:39 PM)
I think US has stopped the Gold policy way back as gold is scarce.
Im pretty sure it still is..
B4 many currencies around the world were hedged against the gold which was somewhat unattractive, so than USA was the only to have gold to determine its currency value and coutnries than hedged against USA dollar to determine the value of their own currencies.
QUOTE(1pakistani @ May 12 2008, 06:48 AM)
Im pretty sure it still is..
B4 many currencies around the world were hedged against the gold which was somewhat unattractive, so than USA was the only to have gold to determine its currency value and coutnries than hedged against USA dollar to determine the value of their own currencies.
B4 many currencies around the world were hedged against the gold which was somewhat unattractive, so than USA was the only to have gold to determine its currency value and coutnries than hedged against USA dollar to determine the value of their own currencies.
The USA abandoned the gold standard in 1971, the value of the US dollar is no longer fixed against the value of gold
http://www.usagold.com/gildedopinion/rocke...l/20060531.html
QUOTE(el nino @ May 11 2008, 01:18 PM)
I can,t ge my head round China $1.6 trillion versis USA $75 BILLION
WEIRD OR WAT
WEIRD OR WAT
Thats why Hillary Clinton says "China is our banker"
http://www.hillaryclinton.com/news/release/view/?id=7412
QUOTE
the trade deficit has nearly doubled to $708 billion and China's holdings of U.S. public debt has risen to almost $500 billion. President Bush has allowed China to become America’s banker, making it harder to promote our interests
China's forex reserves are a closely guarded secret!! Show me an official source then we can discuss. I assume the GCC do the same?
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