Convertibility

Note that the element of convertibility is not a prerequisite; it is sufficient only to commit to the price of gold becoming the "alarm signal" for the real bills doctrine to work. ❋ Reuven Brenner (2010)

Argentina, trying to put an end to years of runaway inflation, pegged its peso to the dollar through a so-called convertibility program in 1991. ❋ Matt Moffett (2011)

And as with Argentina's pre-2002 "convertibility" regime, which rigidly pegged the Argentine peso to the dollar, Greece is denied the one policy option that could ease its economic pain: a currency devaluation. ❋ Michael Casey (2010)

On the other hand, if they were to be founded on mutual trust and a real understanding of the basic principles of trade, then I believe 'convertibility' could not only be achieved, but achieved soon. ❋ Unknown (1954)

He was adamant that "convertibility" would be the cornerstone of his policy - and he kept his word when he got the job in December 1999. ❋ Unknown (2010)

Just as their J-20 so-called stealth fighter--a spun-off Russian design with which we are familiar--is a poor cousin to the F-22, so is China's economy far behind the industrialized free world, with its currency only now embarking on the path of full convertibility. ❋ Rick Whittington (2011)

Hiroshi Watanabe , who served as Japan's top financial diplomat overseeing its foreign exchange policy, said he was not entirely in favor of Japan holding yuan assets given the currency's lack of full convertibility, but added that Tokyo's purchases despite the constraint would highlight the anomaly and would send a message to Beijing to speed up its efforts to make the yuan more flexible. ❋ Tatsuo Ito (2012)

The monetary stability inherent in the original Bretton Woods agreement arose from gold convertibility. ❋ Judy Shelton (2011)

But after these authorities spent the better part of a decade using their printing presses to finance the Vietnam War and a raft of new social programs, President Richard Nixon in 1971 put an end to the dollar's convertibility to gold. ❋ Valentin Petkantchin (2011)

Under the IMF's classification, even if Japan were to buy Chinese bonds, they would not be counted as foreign reserves, as only assets with currency convertibility qualify. ❋ Tatsuo Ito (2012)

The value of the dollar deteriorated and President Richard Nixon ended dollar-gold convertibility in August 1971. ❋ Judy Shelton (2011)

Still, he said he thinks China is moving ahead with plans for full convertibility for the yuan. ❋ Shai Oster (2011)

A classical gold standard, too, would have required that all participating nations commit to gold convertibility, and thus to fiscal responsibility. ❋ Judy Shelton (2011)

This is so because excess dollars in the financial markets, at home or abroad, would lead to redemption of the undesired dollars into gold at the statutory parity price, thus requiring the Fed to reduce the expansion of credit in order to preserve the lawful convertibility parity of the dollar-gold relationship, thereby reducing the threat of inflation. ❋ Lewis E. Lehrman (2011)

Unrestricted convertibility of the dollar to gold at the statutory price restricts Federal Reserve creation of excess dollars and the inflation caused by Fed financing of the deficit. ❋ Lewis E. Lehrman (2011)

Establishing dollar convertibility to a weight unit of gold, and ending the dollar's reserve currency role, constitute the dual institutional mechanisms by which sustained, systemic inflation is ruled out of the integrated world trading system. ❋ Lewis E. Lehrman (2011)

Government rules heavily curtail its convertibility. ❋ Alex Frangos (2011)