What New Special Drawing Rights Could Mean For The Yuan
By: You know the IMF has proposed changes to Special Drawing Rights, but you probably thought, who cares? SDRs, international reserve assets allocated by the IMF to different countries, get a lot less use than the dollar as a reserve currency. But Jim Rickards, senior managing director of Tangent Capital, has some reasons why you should.
For starters, the new drawing rights, if they come to pass, might be a back door way to bring the yuan into greater circulation. Richard breaks it down for you here, starting at 2:20.
CURRENCY FUTURES
Tune In: Beginning March 11th, CNBC's "Money in Motion Currency Trading" will air on Fridays at 5:30pm.
"Money in Motion Currency Trading" will repeat on Saturdays at 7pm.
In case you haven't been paying attention to the IMF's proposals for changes to Special Drawing Rights - and really, who has been? - here are some reasons you should.
