Hivers,
I was reading some information about the US dollar yes or no loosing ground as world reserve currency and concluded this is not the case yet as no real competitor is looming..certainly not the SDR
This ofcourse is important if you have USD assets or for instance think of selling your silver or gold for (more) USD.
I was curious whether the IMF currency called SDR is a threat as China is suggesting/promoting.
While reading I more and more read this:
- the IMF SDR currency is not a currency as there is no market for it nor is it backed by anything or anyone;
- the RMB (Yuan) is included in the SDR basket only because China wanted to have it's currency accepted as "International currency " and/or to annoy the USA a little;
- The USA would never accept an improved SDR as reserve currency because of geo-political reasons (they wanna control governments who get aid);
The above means that the USA can continue creating state debt , the US dollar will not collaps but US internal inflation will rise unless GDP starts to grow soon. So I still would hold gold and silver and not sell . Same conclusion as before but from another viewpoint.
And I have a tip for IMF employees: Stop all the work for this SDR as it is a waiste of time already since 1969 (!!!) and serves only political childish games.
Goldrooster