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BTC096: Fractional Reserve Banking Vs Bitcoin w/ Mike Stroup (Bitcoin Podcast)
We Study Billionaires - The Investor’s Podcast Network
Do Central Banks Hold FX Reserves?
Mike Downey: I never understood this notion of fiat backed by XYZ assets, say gold. It's just back to sell for said currency to make it stronger or maybe they're doing it to make it weaker. So the first thing there would be to separate it out, you know, develop market, emerging market. But if we think more about emerging market, yeah, your typical, you know,. emerging market country will hold FX reserves. If they have a peg, then yes, they need a ton of reserves because they need to defend the bag.
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