[lbo-talk] The Long March From Yenan to Barclays

[bhandari at berkeley.edu]

If reserve accumulation is an insurance fund, at some point it should be
large enough for that purpose; then why not command real US output rather
than US financial assets, especially apparently the risky mortgage backed
ones? I guess foreign investors are impressed by Benacke's inflation
targeting faith (a disguised return to a commodity money?). A friend sent
me an econometric (ouch) paper on Chinese forex strategy; I'll try to read
it in the next half year as I begin reading the financial press again.
Rakesh