Hello Penners, As I understand it, the US requires foreign countries that hold US dollars as reserve currency to do so by purchasing and holding US T-bills (thus contributing to the US's ability to maintain its current account deficit). I recall reading somewhere that as early as the 1950s Congress wrote this into law, that US foreign reserve dollars must be held in the the form of T-bills.
If this is correct, is the US unique in this regard, or do other currencies have similar requirements as to how their currencies are held by foreign states? Any light you could shine my way is appreciated. Jayson Jayson J Funke (ABD) Graduate School of Geography Clark University 950 Main Street Worcester, MA 01603 _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
