> He's probably comparing it to central bank currencies that can be pegged to a stable interest rate.
What does that mean exactly? Interest rates haven't been stable for the past 100 years, and the USD isn't pegged to anything (nor is the Euro for that matter).
What does that mean exactly? Interest rates haven't been stable for the past 100 years, and the USD isn't pegged to anything (nor is the Euro for that matter).
In fact, the interest rate volatility increased after going off the gold standard: http://static.safehaven.com/authors/weiner/30046_b.png