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A currency designed for long-term storage and investment doesn't do so well at encouraging transactions and exchange in the moment.

The power to regulate the value of money does not involve a power to dilute the value of money by inflation, an absurd and self-serving rendering.

Well, I make a practice of not commenting on the role of the relative exchange value of our currency.

The world is governed by institutions that are not democratic - the World Bank, the IMF, the WTO.

The only way to have several currencies from divergent nations lumped together is if they are culturally close, such as Germany, the Netherlands and Austria. If they aren't, it simply can't continue to work.

The good thing about the IMF is there is no European politics involved.

Money never seems to be interested in strengthening regulatory agencies, for example, but always in subverting them, in making them miss the danger signs in coal mines and in derivatives trading and in deep-sea oil wells.

It is an established scientific fact that monetary policy has had virtually no effect on output and employment in the U.S. since the formation of the Fed.

The Federal Reserve has always recognized the importance of allowing markets to work, and government oversight of financial firms will never be fully effective without the aid of strong market discipline.

To the extent that the United States has, I don't like the word hegemony, the United States has influence around the world, I don't think that's based on to any significant degree on the fact that countries use the dollar as their major reserve.