Famous quote by Robert C. Solomon

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

"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.

Go to author profile

Similar Quotes

Small: Weak minds sink under prosperity as well as adversity but strong and deep ones have two high tides - David Har
"Weak minds sink under prosperity as well as adversity; but strong and deep ones have two high tides"
David Hare, Playwright
Small: Never trust a man who speaks well of everybody - John Churton Collins
"Never trust a man who speaks well of everybody"
John Churton Collins, Critic
Small: Life is life - whether in a cat, or dog or man. There is no difference there between a cat or a man. The idea
"Life is life - whether in a cat, or dog or man. There is no difference there between a cat or a man. The idea of difference is a human conception for man's own advantage"
Sri Aurobindo, Philosopher
Small: A house is not a home unless it contains food and fire for the mind as well as the body - Benjamin Franklin
Benjamin Franklin
"A house is not a home unless it contains food and fire for the mind as well as the body"
Benjamin Franklin, Politician
Small: The League is very well when sparrows shout, but no good at all when eagles fall out - Benito Mussolini
Benito Mussolini
"The League is very well when sparrows shout, but no good at all when eagles fall out"
Benito Mussolini, Politician
Small: If you want to eat well in England, eat three breakfasts - W. Somerset Maugham
W. Somerset Maugham
"If you want to eat well in England, eat three breakfasts"
W. Somerset Maugham, Playwright
Small: My best friend is the man who in wishing me well wishes it for my sake - Aristotle
Aristotle
"My best friend is the man who in wishing me well wishes it for my sake"
Aristotle, Philosopher
Small: One has children in the expectation of dying before them. In fact, you want to make damn sure you die before t
"One has children in the expectation of dying before them. In fact, you want to make damn sure you die before them, just as you plant a tree or build a house knowing, hoping that it will outlive you. That's how the human species has done as well as it has"
Christopher Hitchens, Author
Small: If you want a thing done well, do it yourself - William Edward Hickson
William Edward Hickson
"If you want a thing done well, do it yourself"
William Edward Hickson, Writer
Small: Well, I think any time you delve into this sort of religion, politics, as you well know, youre going to, you k
Mel Gibson
"Well, I think any time you delve into this sort of religion, politics, as you well know, you're going to, you know, touch a few nerves. I wasn't - now - and this is the honest truth"
Mel Gibson, Actor