What New Special Drawing Rights Could Mean For The Yuan
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.
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