Famous quote by Robert C. Solomon

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The major material advantage, financial advantage from having a reserve currency is that between 200 and 300 billion dol
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"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

About this Quote

This quote by Robert C. Solomon is describing the financial advantages of having a reserve currency. A reserve currency is a currency that is kept in considerable quantities by federal governments and organizations as part of their foreign exchange reserves. The quote suggests that having a reserve currency allows for a large quantity of cash to be held in the type of physical bills. Solomon approximates that in between 200 and 300 billion dollars worth of physical costs exist on the planet, with a large part of them being kept in Russia. This suggests that having a reserve currency can be useful in regards to having a big amount of physical cash readily available. This can be useful for federal governments and institutions as it enables them to have a big amount of cash offered to them in times of requirement.

About the Author

USA Flag This quote is written / told by Robert C. Solomon between September 14, 1942 and January 2, 2007. He was a famous Educator from USA. The author also have 18 other quotes.

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