“The SDR is neither a currency nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. SDRs can be exchanged for these currencies.”
So WTF distinguishes currencies from claims from potential claims? If it is agreed on as something in terms of which things' values (at a given time) can be qua…
“The SDR is neither a currency nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. SDRs can be exchanged for these currencies.”
So WTF distinguishes currencies from claims from potential claims? If it is agreed on as something in terms of which things' values (at a given time) can be quantified and it is easily transferred from the custody of one person to another then it might as well be a currency, mightn't it?
It strikes me that all this mumbo-jumbo amounts to conjuring tricks to confuse and conceal so that people's bluff can be called more easily (by giving an impression of mysterious complexity). And this caper is not confined to just “economics”.
“The SDR is neither a currency nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. SDRs can be exchanged for these currencies.”
So WTF distinguishes currencies from claims from potential claims? If it is agreed on as something in terms of which things' values (at a given time) can be quantified and it is easily transferred from the custody of one person to another then it might as well be a currency, mightn't it?
It strikes me that all this mumbo-jumbo amounts to conjuring tricks to confuse and conceal so that people's bluff can be called more easily (by giving an impression of mysterious complexity). And this caper is not confined to just “economics”.