Dumping the $$$

Discussion in 'Economy' started by sparky, Feb 15, 2011.

  1. sparky

    sparky VIP Member

    Oct 19, 2008
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    The SDR is a hybrid. SDRs are part U.S. dollar, part euro, part yen and part British pound. In particular, the following is how each SDR currently breaks down....

    U.S. Dollar: 41.9%

    Euro: 37.4%

    Yen: 9.4%

    British Pound: 11.3%

    Now there are calls for other national currencies to be included in the basket.

    Russian President Dmitry Medvedev has publicly called for the national currencies of Brazil, Russia, India and China to be included in the SDR.

    In January, the Obama administration said that it fully supports the eventual inclusion of the yuan in the SDR.

    So yes, it looks like we are definitely moving in the direction of the SDR becoming a true global currency.

    But is this a good idea?

    Shocking New IMF Report: The U.S. Dollar Needs To Be Replaced As The World Reserve Currency And SDRs “Could Constitute An Embryo Of Global Currency”

    not a new issue here, the casandra's have been howling all along about it

    however the chances of this eventually happening seem to be creeping closer on our horizon

    so, seeing as there are more connected posters here , can we get some opinions on the short and long term effects , should this occur?

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