The Strategic Capital Reserve Act Of 1985

Author : United States Congress
Publisher : Forgotten Books
ISBN 13 : 9781528542661
Total Pages : 188 pages
Book Rating : 4.5/5 (426 download)

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Download or read book The Strategic Capital Reserve Act of 1985 written by United States Congress and published by Forgotten Books. This book was released on 2017-09-17 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from The Strategic Capital Reserve Act of 1985: Hearings Before the Subcommittee on International Finance, Trade and Monetary Policy, of the Committee on Banking, Finance and Urban Affairs, House of Representatives, Ninety-Ninth Congress, First Session The Strategic Capital Reserve Act has been well described by my colleague Bill Bradley, who really initiated it as he indicated on the Senate side. Let me just make a couple of additional observa tions. The administration changed their policies this year, and the G - 5 initiative is working. It has brought the yen down in relationship to the dollar. The point is, however, that this is a fundamental policy question, and the Congress should be heard on this. I know the administration doesn't want that. They never do. If you are running a business, you never want your board of directors to tell you what to do. You want to kind of have a meeting every once in awhile, and humor them. It is Congress' responsibility to set the fundamental policies, and when the exchange rate 8 stem is broke, we have to figure out how to repair it. Senator Bra ley along with our colleague, Jack Kemp, hosted a major conference on this sub ject the last 2 days, and there were people from all over the world. They disagreed on many things, but they did not almost without exception disagree on one point, and that is the exchange rate system is broke. It is not working. Theoretical economics said that when you run a big trade deficit, your currency will depreciate and there will be an automatic balancing. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.