Conversation

Replying to
2/ As I understand it, his basic argument is that there is a conflict of interest between the short-term domestic interests and long-term international objectives of a country currency being used as a world reserve currency
2
6
3/ I didn't fully grok what the precise conflict of interest between short-term domestic and long-term international objectives was in Nash's view. I assume from this text it's basically about gov's ability to inflate away wealth.
Image
1
5
4/ In the wake of the 2008 financial crisis of, the governor of the People's Bank of China explicitly named the reserve currency status of the US dollar as a contributing factor to global savings and investment imbalances that led to the crisis.
2
3
8/ The tricky bit was that the goods in the basket would have to be adjusted over time which reintroduces a political component that was the whole problem in the first place.
2
5
9/ More recently, Nash is getting a lot of play because Bitcoin has a lot of the properties of ideal money and "hyperbitcoinization" seems similar to Nashification
Image
2
11