TBomb Posted April 17, 2015 Report Share Posted April 17, 2015 MORE CONFIRMATION OF SDR/RMB & UPCOMING POM ANNOUNCEMENT APRIL 17, 2015 JC COLLINS LEAVE A COMMENT Updates from the IMF Spring Meetings By JC Collins During a live question and answer session at the Spring Meetings of the International Monetary Fund and World Bank, Managing Director Christine Lagarde once again reiterated that China has formally requested the inclusion of the renminbi currency in the SDR basket composition. She also stated that Chinese efforts towards economic reforms, such as opening up capital accounts, has been supporting the case for the yuan. The expansion of the membership list of the Asian Infrastructure Investment Bank and the growing framework of the Eurasian Development Bank, with probable regional currencies, is creating additional leverage on both America and the IMF to ensure that quota and governance reforms are implemented and that the yuan is included in the upcoming SDR review. The momentum which has built up internationally surrounding the multilateral mandates can no longer be ignored by the American administration. The yuan will only require a 70% vote to be included in the SDR composition. The US veto falls short of this which means that it is all but certain that the renminbi will be added to the global reserve basket. The emergence of the BRICS Development Bank and Reserve Fund, along with both the AIIB and Eurasian Development Bank, including a large membership of American allies, has created a political situation for both Democrats and Republicans which can no longer be ignored or postponed. All of these institutions and their representatives have officially stated that they do not wish to create a new monetary system outside of the existing IMF and World Bank model, but wish to enhance and expand what they feel has been a USD dominated framework to more fairly represent the economic realities of a multilateral world. Whether or not America agrees with the multilateral transition and reforms to the IMF no longer matters. The leverage and Plan B framework has been established and is fully capable of bypassing any resistance and gaming by the United States. Further inability by the US on enacting the required legislation to support the transition will only hurt their political and economic interests internationally. The level of volatility and instability which Americans will experience moving forward from this point will largely depend on the responses and collaboration of their government. But the average citizen will have opportunities available to help themselves transition through this period. When the international institutions and central banks have been building a method leveraging the SDR as a means to provide monetary stability, we have been working on a method by which private citizens can also leverage this non-private asset towards the goal of wealth retention and financial stability. Stay tuned for further announcements towards the end of April. – JC http://philosophyofmetrics.com/2015/04/17/more-confirmation-of-sdrrmb-upcoming-pom-announcement/ Bonds | Thu Apr 16, 2015 10:18am EDT Related: CURRENCIES, BONDS, MARKETS, FINANCIALS U.S. Treasury's Lew says will press trading partners on exchange ratesWASHINGTON, APRIL 16 (Reuters) - U.S. Treasury Secretary Jack Lew said on Thursday the United States had made progress in convincing other countries not to manipulate their currencies and would press even harder for trading partners to let exchange rates move freely. Lew made the remarks in testimony prepared for a Senate Finance Committee hearing on trade. Many U.S. lawmakers want the administration to insist on tough currency rules in trade pacts, but officials say that is not the right forum. "We will continue to intensify our efforts on exchange rates using the tools and channels that are most effective," Lew said. "We will build on our ongoing multilateral and bilateral engagement...to press countries even harder towards more market-determined exchange rates and to secure strong commitments on currency disciplines," he said. (Reporting by Krista Hughes; Editing byEmily Stephenson) http://www.reuters.com/article/2015/04/16/usa-trade-currency-idUSL2N0XD15720150416 http://www.bloomberg.com/news/videos/2015-04-15/jack-lew-policy-can-drive-demand-in-europe U.S. Treasury's Lew says will press trading partners on exchange rates Thu Apr 16, 2015 10:21am EDT WASHINGTON (Reuters) - U.S. Treasury Secretary Jack Lew said on Thursday the United States had made progress in convincing other countries not to manipulate their currencies and would press even harder for trading partners to let exchange rates move freely. Lew made the remarks in testimony prepared for a Senate Finance Committee hearing on trade. Many U.S. lawmakers want the administration to insist on tough currency rules in trade pacts, but officials say that is not the right forum. "We will continue to intensify our efforts on exchange rates using the tools and channels that are most effective," Lew said. "We will build on our ongoing multilateral and bilateral engagement...to press countries even harder toward more market-determined exchange rates and to secure strong commitments on currency disciplines," he said. (Reporting by Krista Hughes; Editing by Emily Stephenson) http://mobile.reuters.com/article/idUSKBN0N71Q320150416?irpc=932 1 1 Link to comment Share on other sites More sharing options...
boosterbglee Posted April 17, 2015 Report Share Posted April 17, 2015 The Dong currency might end up RV'ing long before we see anything form Iraq! Link to comment Share on other sites More sharing options...
TBomb Posted April 17, 2015 Author Report Share Posted April 17, 2015 1 USD = 1.1411 AUD https://www.travelex.com/ uhhhh pretty sure the AUD fell quite a bit in at least the last 24 hrs Link to comment Share on other sites More sharing options...
skeetdog Posted April 17, 2015 Report Share Posted April 17, 2015 Thanks TBomb....This ought to force a lot of folks to the table to show what cards they're holdin'...China havin' to trade at the true value of their currency will have quiverin' ramifications throughout the entire world addin' to new currencies entering the market....This could be one of the under tones for China wantin' to all of a sudden play ball by the rules with the rest of the world...their little side show tent is about to fall down on top of them if they don't find some way to prop it up....jmho Link to comment Share on other sites More sharing options...
TBomb Posted April 17, 2015 Author Report Share Posted April 17, 2015 one problem with your theory skeet- china's been purchasing mega amounts of gold for a long time, i'm pretty sure their currency is backed by true wealth - once china has the aiib up and running, they'll be forced to disclose how much gold they have (that's the convention anyway) and we may be forced to disclose that we hold very little gold (from reports) 3 Link to comment Share on other sites More sharing options...
skeetdog Posted April 17, 2015 Report Share Posted April 17, 2015 I'm not sure which end of the boat I'm on...but I'm sure we're on the same boat...China havin' to trade at the worth value of the currency...It's a game changer.... Link to comment Share on other sites More sharing options...
The Machine Posted April 17, 2015 Report Share Posted April 17, 2015 (edited) 1 USD = 1.1411 AUD https://www.travelex.com/ uhhhh pretty sure the AUD fell quite a bit in at least the last 24 hrs Not sure where your getting your numbers from but the AUD hasnt been at 1.14 since 26th september 2014 ....... its 1.28 right now *** EDIT*** ah yes I see your link, your loking at a particular dealer rate not the actual FOREX rate one problem with your theory skeet- china's been purchasing mega amounts of gold for a long time, i'm pretty sure their currency is backed by true wealth - once china has the aiib up and running, they'll be forced to disclose how much gold they have (that's the convention anyway) and we may be forced to disclose that we hold very little gold (from reports) yep China loves its gold, they mine upwards of 400 tonnes per year in china and the government buys it all + they buy from everywhere else ........... the Yuan is way undervalued, if the chinese ever came out and actually said how much gold they actually had the yuan would skyrocket. I would dare to say they probably have more Gold than the US claims to have Edited April 17, 2015 by The Machine 1 Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted April 18, 2015 Report Share Posted April 18, 2015 I would dare to say they probably have more Gold than the US claims to haveRead more: http://dinarvets.com/forums/index.php?/topic/200963-more-confirmation-of-sdrrmb-upcoming-pom-announcement/#ixzz3XcYoosTD i believe this as well!!! Link to comment Share on other sites More sharing options...
TBomb Posted April 19, 2015 Author Report Share Posted April 19, 2015 THANKS SKEET AND MACHINE AND SG - INTERESTING TIMES FOR SURE Link to comment Share on other sites More sharing options...
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