It is China’s turn to take over leadership of the G-20, (it rotates leadership) and the first thing they did last week is set up a working group to for SDR use to settle international trade replacing the dollar. The yuan will still be used by them where they have currency swaps. Come October 1, 2016 all countries can exchange their dollars and…[Read more]
In reply to - The Doc wrote a new post, Why the IMF’s “Historic” Decision About China is Irrelevant… and Hilarious! The SDR is nothing fancy. It’s really only something that economists and central bankers fawn over, with no r […]↧