货币储备

An alternative would be to eliminate the Federal Reserve System; to reduce the monetary activities of the federal government to the provision of high-powered money, that is, currency and bank reserves, and to constitutionalize, as it were, what is to be done with high-powered money.

一个替代的办法是，废除联邦储备体系；将联邦政府的货币政策，只限于提供高能货币（ high-powered money ），即提供现金与银行准备金，并把提供高能货币的做法写进宪法，就如它本该做的那样。

Heller—Knight Model stressed the balance of trades effect in the currency structure of foreign exchange reserves decision. Dooly model shows the trade flows, the debt payment and the exchange arrangements will all affects the currency structure of foreign exchange reserves. There is some logic to each of these three models, but are not comprehensive enough.

资产组合理论强调货币的收益与风险在安排外汇储备币种结构中的作用，海勒——奈特模型强调贸易收支在决定外汇储备币种结构中的作用，杜利模型则将影响外汇储备币种结构的因素扩大为贸易流量、外债支付及汇率安排三个因素。

Specifically, the PBC undertakes to formulate and implement monetary policy; issue currency and regulate its circulation; manage the official international reserves; regulate inter-bank money market inter-bank bond market, foreign exchange market and gold market; act as fiscal agent; maintain payment and settlement system; combat money laundering activities, and participate in international financial cooperation on behalf of the state.

具体地说，中国人民银行负责制定和执行货币政策；发行货币；管理货币流通；管理国家外汇储备；监管银行间货币市场和债券市场、外汇交易市场和黄金交易市场；代理国库；维护支付结算体系；反洗钱；代表国家参与国际金融合作。

With the development of domestic economies, the foreign reserves of the non-international-currency- issuing nations rise sharply, pushing the liquidity preferences to reverse. And if the international-currency-issuing nations slide into recession, the best policy option will be to use the oligopolistic international currency system to compete for seignorage in order to sustain domestic economic development.

随着本国经济的发展，不掌握国际货币发行权国家的外汇储备快速增长，促使原本强烈的流动性偏好发生趋势性逆转，而此时如果掌握国际货币发行权的国家经济陷入衰退，其最佳的策略将转向利用寡头垄断型的国际货币体系来争夺国际铸币税以维持本国经济发展。

A part of the explanation has been the ability of the People's Bank of China to sterilise the impact of the country's enormous accumulation of foreign currency reserves upon the monetary base or "reserve money"– holdings of commercial banks at the central bank.

对这种现象的一种解释是，中国央行有能力冲销中国积聚的庞大外汇储备对基础货币的影响。基础货币是指商业银行存放在央行的货币。

The account of"Official Reserve Assets" includes mainly the gold stock7,the stock of foreign exchange in convertible currencies8,allocation of Special Drawing Rights and reserve position in the International Monetary Fund.

官方储备资产项目主要包括黄金储备、可兑换的外汇储备、特别提款权配额及国际货币基金组织的储备头寸。

Moreover, under current foreign exchange administration system, foreign currency welled up like the tidewater, with the majority of which is bought by the bank of our country. That is, purchasing foreign currency has already become one of the main channels of our Central Bank throwing high-powered money into circulation.

这使得我国中央银行每年货币投放量的大小，在一定程度上决定于当年外汇的流入量，因而外汇储备的快速增长导致我国货币政策的中介目标货币供应量随之成倍的增长，加大了货币政策调控的难度，降低了中央银行制定货币金融政策的自由度。

China has been the first biggest foreign exchange reserved country in the world. With increase of foreign exchange reserve, for the stable of RMB valuta and relieve the international upvalue stress from foreign exchange market for foreign supply is more than need, central bank have to purchase foreign currency for forming huge money supply amount and increase inflation stress.

随着外汇储备的增长，为了维持人民币币值的稳定，减轻外汇市场上由于外汇供给大于需求而产生的人民币升值压力，央行不得不购进外汇，投放基础货币，从而使外汇占款大幅增加，形成巨大的货币供应量，加大通货膨胀的压力。2004年物价的大幅上涨，和外汇储备的快速增长密不可分。

There are three important theoretical models about the currency structure of reserves , namely property theory model, Heyler-Knight model and Dooley model.

本文认为需要综合考虑三大模型才能说明一国外汇储备的货币结构选择情况，因此，论文综合考虑这三大模型对中国外汇储备货币结构进行实证分析。

RMB regionalization is the process of RMB taking as international currency in East Asia. This process is the result of market choice, of which been taken RMB as transactions currency , quotation currency and asset currency in private department, then it also taken as intervention currency, unit-of-account currency and reserve currency in office department.

人民币区域化是人民币跨越国界实现货币职能的发展过程，是以市场为基础的货币选择结果，即人民币成为东亚区域贸易的支付媒介、计价单位和结算货币，进而逐步实现人民币作为区域内的国际债权、债务的记账单位和储备货币，并最终成为外汇市场上干预汇率的干预货币。

Since historical times,England ,where the early inhabitants were Celts, has been conquered three times .

从有历史以来，英国，在此地早期居住的是凯尔特人，已经被征服了三次。

Bluetooth OBEX File Transfer Enables the sending and receiving of files on your phone via Bluetooth.

蓝牙OBEX文件移动允许经过蓝牙传送和接受文件。。。。