On the first of October the Renminbi (RMB) of China will be added to the IMF basket of currencies that make up the special drawing right (SDR). Meaning that as of that date, IMF member countries will be able to record the RMB as official reserves readily available for meeting balance payments financing needs like the dollar, euro, pound sterling, swiss franc, yen, australian dollar and canadian dollar. This can be used in forms of banknotes, bank deposits, treasury bills and others. Knowing that the dollar has lost tremendous value since it's creation and China has been massively hoarding and buying gold since 2009, doubling their assets of the precious metal. Since it is a long standing argument of the Chinese to move of from the US-dollar centric system this could possibly do the trick. Many other countries are of that mentality also and could possibly follow their lead. If the US-dollar loses it's power as reserve currency of the world for gold, silver and oil it could have tremendous effects. The federal reserve as private entity has had no problems to inflate the US-dollar since Richard Nixon stept of the gold back'd up standard, It won't become a pleasant change in world affairs In addition for Europe with Deutsche Bank losing 50% of their value on the market allready since January 2016 alone and in need of massive bank bail-out as the new 2007 Lehman brother's, this could put the west in a financial depression or recession that was never seen before. There is still questions if the West even got out successfully out of the 2008 depression. We could be in for very great and hard changes this year. And certainly could recommend anyone with spare money to invest in precious metals while the prices are still way undervalued. We could see very great price changes in the coming years. Gold has allready risen 357% in the last 16years!! If that isn't a great investment i dont know anymore :-)
author | bjornbm |
---|---|
permlink | dollar-shook-up |
category | money |
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created | 2016-09-13 09:03:57 |
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cashout_time | 1969-12-31 23:59:59 |
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root_title | "Dollar shook up!!" |
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author_curate_reward | "" |
voter | weight | wgt% | rshares | pct | time |
---|---|---|---|---|---|
papa-pepper | 0 | 26,524,361,330 | 100% | ||
onlyvoluntary | 0 | 196,732,023 | 100% | ||
artfullyaging | 0 | 89,440,537 | 100% | ||
bleujay | 0 | 99,268,538 | 100% | ||
bjornbm | 0 | 156,792,113 | 100% |
cool good info
author | onlyvoluntary |
---|---|
permlink | re-bjornbm-dollar-shook-up-20160913t091017781z |
category | money |
json_metadata | {"tags":["money"]} |
created | 2016-09-13 09:10:15 |
last_update | 2016-09-13 09:10:15 |
depth | 1 |
children | 1 |
last_payout | 2016-10-14 09:10:24 |
cashout_time | 1969-12-31 23:59:59 |
total_payout_value | 0.000 HBD |
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root_title | "Dollar shook up!!" |
beneficiaries | [] |
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Thank you man, with pleasure :-)
author | bjornbm |
---|---|
permlink | re-onlyvoluntary-re-bjornbm-dollar-shook-up-20160913t123245432z |
category | money |
json_metadata | {"tags":["money"]} |
created | 2016-09-13 12:32:48 |
last_update | 2016-09-13 12:32:48 |
depth | 2 |
children | 0 |
last_payout | 2016-10-14 09:10:24 |
cashout_time | 1969-12-31 23:59:59 |
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root_title | "Dollar shook up!!" |
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papa-pepper | 0 | 25,668,736,771 | 100% |