货币储备是私人持有债券的抵押物。
此外，现金在货币储备中相对较小。
Moreover, currency is a relatively small part of the money stock.
第一个问题是，需要为货币储备多少黄金或金汇兑。
The first problem is how much gold or gold exchange should be reserved against currency.
另一个疑问是：为什么新兴市场的货币储备增长得如此巨大？
There is another puzzle: why have emerging-market currency reserves grown so large?
此次购买之前，其黄金形式的货币储备水平跌到了只有3.2%。
Before this recent buy, reserve levels had tumbled to just 3.2% in gold.
资金和市场的流动性都依赖于有一个足够大流动性的货币储备能提取。
Both funding and market liquidity rely on a big enough pool of monetary liquidity to draw upon.
美元的主要竞争对手欧元在世界货币储备总值中占到了26.6% 。
The dollar’s closest rival, the euro, accounts for 26.6% of the world’s reserves.
他们最近的经济困难造成他们黄金储备和货币储备严重削减。
Their resent economic difficulties have caused serious inroads to be made into their gold and currency reserves.
韩国则恰恰相反，它不断增加货币储备，几乎抵消了所有韩元的增值压力。
South Korea, by contrast, has been absorbing virtually all of the upward pressure on the won by accumulating additional reserves.
这些作为货币储备而被持有的债券只有在可以进行迅速而廉价的兑现时才算得上有用。
Bonds held as currency reserves are useful if they can be converted to cash quickly and cheaply.
希望我们的美元不断继续贬值，这样中国大量的货币储备也会变得一文不值。
Hopefully our dollar becomes worthless, so China's vast reserves of this currency also becomes worthless.
许多国家一直以来越积越多的货币储备和主权财富基金也是美联储同一个错误带来的后果。
The currency reserves and sovereign wealth funds that many countries have been piling up are in substantial part the result of that same Fed mistake.
然而，这并不是美国作为世界上最大的债权人和货币储备的管理者应该去显示的和去鼓励的。
This is not, however, something America, as the world’s biggest debtor and the custodian of its reserve currency, can be seen to encourage.
有人说，美国作为国际货币储备货币的主要发行国地位使美国不公平地处于有利地位。
Some say that America's role as the principal issuer of the global reserve currency gives it an unfair advantage.
人民币上升为储备货币，将展现出减少四大货币储备、实现储备多元化的巨大好处。
The renminbi's ascent to reserve currency status will demonstrate the huge benefits of diversifying away from the 'Big Four' currencies.
两国最近也达成了一下加强亚洲货币储备的协议，将等额的人民币和日元放入储备，强调对亚洲的共同承诺。
And the two countries recently struck a deal to strengthen Asian currency reserves-putting equal amounts of yen and yuan into the reserve pot, underscoring a joint commitment in Asia.
美元现在也已经有了一个可与之媲美的竞争对手，欧元，现在欧元已经占了大概30%的国际货币储备，这个比例还在快速攀升当中。
The dollar now has a world-class competitor, the euro, which accounts for nearly 30 per cent of all international currency reserves, a proportion rising fast.
众所周知，银行采用部分准备金制度，这意味着银行家可以使用存款进行借贷活动，但是这些贷款却只有部分得到了真正货币储备的担保。
It is well known that Banks engage in fractional-reserve lending, meaning that bankers use their deposits in lending operations, with only a part of their loans covered by money reserves.
的确，由于经济的急剧衰退和联邦储备系统的货币储备消耗殆尽，他不得不选择在短期内实行大量的财政刺激措施，这使财政赤字急剧增加。
Indeed, with the economy spiralling downward and the Federal Reserve's monetary ammunition all but spent, he rightly chose to boost the deficit in the short term through hefty fiscal stimulus.
粗略说来，美国约占世界GDP的五分之一，但美国自己的报纸提供数据说：美国的可兑交的货币储备约占世界可兑交货币储备的百分之七十五。
Crudely put, the US possesses around one-fifth of the world's GDP, but its own paper provides around 75 per cent of the world's exchangeable currency reserves.
尽管俄罗斯的国际货币储备世界第三，去年俄罗斯的GDP还是下降了8%，降幅比20国集团的其他成员国都要大，这使得克林姆林宫着实感到震惊。
The Kremlin is still shocked by Russia losing 8 percent of its GDP last year, more than any other G-20 nation, despite having the third-largest international currency reserves in the world.
每当北京的任何官员公开商议，为中国持有的2.1万亿美元外汇储备寻找替代美元的货币时，外汇交易员就会心脏病发作。
Every time any official in Beijing deliberates publicly about seeking an alternative to the U.S. dollar for the $2.1 trillion China holds in reserve, currency traders have a heart attack.
应该有其它的储备货币。
美国有一个巨大的优势是它发行世界储备货币。
America has the great advantage of issuing the world's reserve currency.
美国有一个巨大的优势是它发行世界储备货币。
America has the great advantage of issuing the world's reserve currency.
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