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    Sunday
    May082011

    Exhorbitant Privilege

    DateSunday, May 8, 2011 at 03:59PM

     

    Mirror Mirror ont he Wall...

    ...Whose Got the Cheapest Capital of Them All?

     

     

    Exhorbitant Pivilege, a term  coined in the late '60s by those griping Frenchies, Valery  Giscard d'Éstaing & Co, this concept nonetheless almost assures an over-all advantage of having the world's reserve currency and has been estimated to reduce the US cost of capital by nearly 300 basis points.  In spite of our intellectual incontinence and policy failures, it seems by being reckless we have still taken advantage of the the largest pool of mispriced capital know to man.

    http://pr3isl3r.homepage.t-online.de/texts/exorbitantprivilege.pdf

     

    http://www.ethicalmarkets.com/2011/04/14/exorbitant-privilege-by-barry-eichengreen-oxford-university-press-2011/

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