Ricardo Martin — Monetary Sovereignty

Summary:
The main lesson I want to draw from this post is (excluding being autarkic/poor or being in a monetary union):  If a country wants to maintain a fixed exchange rate, the country must accumulate a lot of foreign reserves to be sovereign (or maybe some capital controls?)  If a country wants to have floating exchange rates, it must convince its trading partners (or its trading partners’ trading partners) to hold its national currency as foreign reserves. losinterestMonetary Sovereignty Ricardo Martin

Topics:
Mike Norman considers the following as important: currency sovereignty, external sector, MMT, reserve currency, sectoral balances

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