[jackofspades]

Mostly agree with this. Would also financial freedom/transferability also plays a part... to have a "reserve" currency, assets denominated in that currency should be easily exchangeable. If you're hotel california - you can only buy into a currency / not sell, makes it harder to have your currency accepted by others.

[ggm]

"of course you can have this fine oil, but I am only going to accept Rupees if you let me spend it on your vast array of Indian made 155mm cannon shells and electronics which the Americans don't want me to buy"