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Forex reserves supply should be matched by domestic money supply to counter inflation.
If NFA grows, the monetary base will grow
If NFA falls, the monetary base will fall
That is how a currency board system should work.
The local monetary policy is tied to an anchor currency.
The monetary base has two components
NFA Net Foreign Assets
NDA Net Domestic Assets
NDA +NFA = Monetary Base
What #Turkey needs is to #peg its currency to an anchor currency.
#Currency Peg can be fixed or crawling.
They can follow many examples, with or w/o capital #controls.
It can choose from an expansive list that includes Malaysia, Nigeria, Argentina, Hong Kong or those in the GCC.
Read 13 tweets
#vss365
I started playing #guitar in college. Some of my friends back home played, so I thought I'd learn. It's been years since I kept up with it. With no job and an empty house, I had time. Plus, I could crank up my amp. Ava would have hated it. All the more reason to do it.
#vss365
Strumming a few chords or playing a riff through a loud amp usually makes me feel better. It's more of a distraction this time. My amp is a little old. Even a #ragpicker might pass on it. "If you're not going to play it, sell it," Ava nagged. Life always got in the way.
#vss365
Or I got in the way. Not even ten years ago I kept getting sick all the time. Painful stomach cramps would radiate weakness throughout my body. I learned how to wash it away like healing #rainwater. That's when I really started to figure out who I was and what I could do.
Read 1104 tweets

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