主题：【原创】货币政策，汇率和房地产。读忙总货币政策文有感 -- mopfish

paper loss on the income statement of a central bank.

I can easily change accounting principles to report whatever the "profit" I want. PBOC/Fed is not required to comply with GAAP.

There is no 但是实在是在承担13亿人的身家性命责任. Central bank's responsibility is to create monetary "mirage" to fool both domestic and international financiers and maintain high employment of resources in one country--keep in mind, financial economy serves real economy! We live under FIAT currency system!

For any democratic nation, what is most important IS DOMESTIC PEOPLE'S WELFARE, employment, price stability. DO NOT BE FOOLED BY ACCOUNTING PAPER GAIN AND LOSS.

That's why Roosevelt broke away from international obligation and gold standard and use new fiat money(and its man-made inflation) to restart a dying US economy in early 1933.

A suggestion from an finance/accounting expert.