Can The US Dollar Face Down The Chinese Yuan?James G. RickardsDec. 01, 2015 |
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Membership in the exclusive SDR currency club has changed only once in the past thirty years. That change took place in 1999, and was purely technical due to the fact that the German mark and French franc were being replaced by the euro. Leaving aside this technical change, the SDR has been dominated by the “Big Four” (US, UK, Japan, and Europe) since the IMF abandoned the gold SDR in 1973. This is why inclusion of the Chinese yuan is so momentous. Read More |