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So let's say I am Peter Griffin and I just found out that I am the ruler of Petoria. My federal reserve bank holds a few foreign bonds and since we are running a huge trade deficit with our largest trading partner I decide to sell them to fill the 'gap'

Now I ask my son Stewie to calculate the 3 components of the balance of payment formula. How should he account for the sale of foreign bonds? Are they part of my capital account or official reserve?

I told him official reserve but I think I need some 'expert' advice...



Edited 1 time(s). Last edit at Tuesday, June 7, 2011 at 10:07AM by ZeroBonus.

KSTHANE Wrote:
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> I was talking to a guy here at work about what the
> US can do to fix its current account deficit and
> he said that selling foreign bonds would be a
> capital account action...but I have no idea if
> he's correct.


That's true if individuals start selling them but what about the Fed. Is it still treated the same way?

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I agree w/ Paddy

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JamboRambo Wrote:
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> I agree w/ Paddy


i assumed by foreign bonds it meant bonds the fed bank was holding of other countries like how China own US treasuries....

so isn't that official reserves?

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"Stewie should account for the sale of foreign bonds as part of the Official Reserves." is what Paddy said...

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deleted



Edited 2 time(s). Last edit at Tuesday, June 7, 2011 at 03:41PM by gangsta.

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JamboRambo Wrote:
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> "Stewie should account for the sale of foreign
> bonds as part of the Official Reserves." is what
> Paddy said...


oh whoops

damn that stewie's dad, paddy and rambo all got +1

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Early on in this century, official reserves assets were primarily gold. Now primarily financial assets denominated in a foreign currency that is widely accepted in international transactions: Pounds assets, U.S. dollar assets (key currency worldwide), Reserve positions in IMF and SDRs (created by IMF).

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Thanks tips

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But yes, official reserves indeed. +1

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