Outside intermediary: The world needs to build triode monetary system

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　　watch caseEngland " financial times " the article inscribed on Feburary 16: Why the world needs 3 kinds of globa loony tunes golden l moneys (author United States Petersen fred of director of international economy institute · Baigesi Teng)

Since a lot of countries are long-term all the time the dollar in the world control a position to regard pair of United States as to gift " overmuch prerogative " . But, this kind of prerogative has become a kind of burden now. The United States should expect now can appear a few kinds of global currencies and a times that the dollar competes, and should begin found a such timeses.

Look in other country, the special status of the dollar is the United States external balance of payments deficit offers financing automatically, make it can be entered not apply goes out. In home, the opportunity that shortsighted American politician wants to restrain to escaping place expresses to welcome, this is understandable. But, this kind of pressure that comes from abroad may conduce to what stimulative place needs adjusting.

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Current monetary system has other and serious weak point. The capital that the last few years flows into the United States comes from foreign money administration for the most part, especially the reserve of dollar the most popular travel mugs stainless of a huge sum that China accumulates. This is the immediate result that the dollar regards reserve as the money. If the dollar does not have the financing action of addiction letting a person, american day is met apparently more feel we the most popular selling the most popular selling ll. Because other country is OK and affirmatory this money is right the exchange rate of the dollar, the currency value that this kind of direct intervention causes a dollar is exorbitant.

Say more generally, the dollar has time of about 100 years as the dominant money on the world, because it does not have adversary,be merely. Euro altered this kind of aspect later. Euro area is accepted the best selling plantronic wireless headset " harmonious and consistent finance is constrictive " and the likelihood issues true euro bond, this makes clear, it is in probably the appeal that its money will recover in a few years henceforth, especially if the United States cannot reduce budget deficit of its a huge sum.

Go 10 years in, the dollar scale in global foreign exchange reserve has dropped about 60% . And the scale of euro r most popular selling mountain t shirts ises to 25% above. Flavour of conceive a design rising abruptly is worn, the RMB will be qualified coming true completely exchangeable global currency position is acquired after casting off protection capital to control. In short, international money system has become polar, the likelihood becomes very quickly triode.

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The United States should accept this kind of situation, should promote this process even. Target substantially should be, will control 10 years henceforth, dollar and euro hold coequal position in the world, let a RMB join subsequently, found SDR steadily. The United States should encourage China and other country to undertake intervention to euro and dollar.

If the dollar is right the direction of the most popular loony tunes golden exchange rate deviate of euro, american itself can intervene euro. It still can pass intervention of quits sex currency and the income levy taxes to dollar of hold of foreign money administration to prevent them publicly to increase the hold of the dollar. It can be in like it 1979-1980 year what do suppo the best selling travel mugs stainless rt in that way one is built in in the most popular selling plantronic wireless headset ternational Monetary Fund " replace account " , a few dollars that foreign money orgnaization can carry this account him general are changed power SDR.

These changing all problems that won't solve international money system, won't let the United States avoid the need that solves its finance problem of c free travel mugs stainless ourse. But, these changing the adjustment that can most popular selling furniture light accelerate world economy place to need, decrease to will produce the risk of the crisis henceforth.