Tuesday, December 1, 2015

Significant Marker Day

Just an entry into my blog about today's least publicized event.  The Chinese RMB was officially accepted into the IMF's 'SDR basket' of currencies.  Previously, the RMB struggled for international recognition and acceptance and they no long have that obstacle.  No immediate impact to the world order yet as the current basket share is only around 10.9%, but its higher than the Yen and the GBP. In the long run, the RMB is likely to be the dominate currency in the basket, only time will determine when.

When that happens, and it may be sooner rather than later, is when the petro dollar fails.  Say goodbye to the good times in the US of A, when the reserve currency is pulled.  But today's event is little noticed and only shows how unaware the world is to little things that can change the course of history.

But readers of this blog have been made aware so do with the information as you deem fit.

Its noted on this blog for future reference.

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