HOUSE_OVERSIGHT_025675.jpg
1.05 MB
Extraction Summary
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People
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Organizations
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Events
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Document Information
Type:
Presentation slide / financial analysis
File Size:
1.05 MB
Summary
A Goldman Sachs Investment Management Division presentation slide (page 12) defining the three criteria for sovereign currencies: medium of exchange, unit of account, and store of value. The document utilizes a source paper by Daniel Heller regarding digital currencies and bears a House Oversight Committee Bates stamp, suggesting it was part of a document production for a congressional investigation.
People (1)
| Name | Role | Context |
|---|---|---|
| Daniel Heller | Author/Source |
Cited in the footer as the author of the source material 'Do Digital Currencies Pose a Threat to Sovereign Currencies...
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Organizations (4)
| Name | Type | Context |
|---|---|---|
| Goldman Sachs |
Creator of the presentation (Logo present: Investment Management Division)
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| Investment Strategy Group |
Cited as the source of the information
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| PIIE |
Peterson Institute for International Economics, associated with Daniel Heller in the citation
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| House Oversight Committee |
Implied by the Bates stamp 'HOUSE_OVERSIGHT_025675'
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Relationships (1)
Source line lists 'Daniel Heller, PIIE'
Key Quotes (2)
Full Extracted Text
Complete text extracted from the document (834 characters)
Sovereign Currencies Meet Three Criteria
Investment Management Division
Goldman Sachs
Investment Management Division
Goldman Sachs
1) They are used as a medium of exchange.
– To represent a medium of exchange, an instrument must facilitate the transaction of goods or services between parities (US$ are used to buy a barrel of oil).
– To represent a medium of exchange, an instrument must facilitate the transaction of goods or services between parities (US$ are used to buy a barrel of oil).
2) They serve as unit of account.
– A unit of account is a measurement which allows value to be accounted and compared (a barrel of WTI is worth ~$55).
– A unit of account is a measurement which allows value to be accounted and compared (a barrel of WTI is worth ~$55).
3) They are a store of value.
– A store of value is an asset that can be saved, stored, and exchanged in the future for a predictable stable value (with 2% annual inflation, a nominal dollar today will be worth 82¢ in 10 years).
– A store of value is an asset that can be saved, stored, and exchanged in the future for a predictable stable value (with 2% annual inflation, a nominal dollar today will be worth 82¢ in 10 years).
Source: Investment Strategy Group, Do Digital Currencies Pose a Threat to Sovereign Currencies and Central Banks?, Daniel Heller, PIIE.
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HOUSE_OVERSIGHT_025675
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HOUSE_OVERSIGHT_025675
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