Home |
Site Index |
FAQs |
Contact |
RSS
|
Podcast
home > by publication type > podcasts > Grant: The ‘Historical Anomaly’ of the Dollar
Email
| Interviewee: | James D. Grant, Editor, Grant's Interest Rate Observer |
|---|---|
| Interviewer: | Lee Hudson Teslik, Assistant Editor, CFR.org |
January 18, 2008
What if the international currency of the future isn’t the dollar, but isn’t the euro either? James D. Grant, the editor of Grant’s Interest Rate Observer and an expert on financial markets, discusses the “historical anomaly” of currencies like the dollar and the euro as uncollateralized international reserve currencies—that is, ones that aren’t backed by a guarantee that they can be exchanged for something else, such as gold or silver. Grant says the dollar has benefited from a largely successful grand experiment in uncollateralized currencies, but that this dynamic is being tested by current financial trends. For instance, foreign governments with large stock piles of dollars now seek to diversify these holdings, showing that their appetite for the currency has a limit.
Weigh in on this issue by emailing CFR.org.
I understand that I may access this podcast solely for my personal use. Any other use of the file and its content, including display, distribution, reproduction, or alteration in any form for any purpose, whether commercial, noncommercial, educational, or promotional, is expressly prohibited without the written permission of the copyright owner, the Council on Foreign Relations. For more information, write webmaster@cfr.org.
In Termites in the Trading System, Jagdish Bhagwati reveals how the rapid spread of preferential trade agreements endangers the world trading system.
America Between the Wars explores how the decisions and debates of the years between the fall of the Berlin Wall and the collapse of the Twin Towers shaped the events, arguments, and politics of the world we live in today.
In The Fall and Rise of the Islamic State, Noah Feldman tells the story behind the increasingly popular call for the establishment of the sharia—the law of the traditional Islamic state—in the modern Muslim world.
Complete list of CFR Books.
This report argues that the United States must lead with domestic action on climate change and proposes a U.S. negotiating strategy for a global UN climate agreement that includes commitments from all major economies, while also promoting a less formal Partnership for Climate Cooperation that would focus the world's largest emitters on implementing aggressive emissions reductions.
This Task Force report examines changes in Latin America and in U.S. influence there, while taking account of the region's enduring importance to the United States. The Task Force offers an agenda for U.S. policy toward Latin America and identifies four critical areas that should provide the basis of a new U.S. approach.
About Independent Task Forces at the Council.
Copyright 2008 by the Council on Foreign Relations. All Rights Reserved.
