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Frank.Karl.S
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Gold, the SDR and BRICS - Alasdair Macleod - Finance and Eco.

It's like adding a fresh apple to a bowl of rotten fruit and calling it a fruit salad. The SDR is a basket (case) of debtor nations. How does one propose an equilibrium in this new basket if the worlds largest creditor nation is introduced? A gold component? No way. Infringes to much on the printing nations. Euro, Yen, Pound and US$. LOLS. I'll bet the US kicks the can and finds a reason to deny the Renminbi a place in the SDR. We are more likely to see a NSDR (new) with a basket of gold backed currencies including many of the proponents of the AIIB and NDB. China is unlikely to back the Renminbi solely as the Chinese do not want to win the race to the top during a currency war to the bottom. China, and others, will continue to add to their gold reserves while the US fiddles.

Commented 3288 days ago

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Beginning of the headline :Last Monday there was a meeting in Washington hosted by the Official Monetary and Financial Institutions Forum (OMFIF) to discuss the future relationship, if any, of gold with the Special Drawing Rights1 (SDR). Also on the agenda was the inclusion of the Chinese renminbi, which seems certain to be included in the SDR basket in this year's revision, assuming that the United States doesn't try to block it. This is not the first time the subject has come up. OMFIF's chairman, Lord Desai wrote a pap... Read More

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