The New “China Money Order” Coming to America
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It all began just a few years ago, when the IMF crowned the Chinese yuan a reserve currency, by adding it to its basket of Special Drawing Rights (SDRs).
Years from now, we may recognize the event as “the day the dollar died” – when SDRs replaced the USD as the world’s sole reserve currency.
How This “Monetary Earthquake” May Devastate the USD
Jim Rickards believes this is a “monetary earthquake”, in part because nations no longer have to deal in dollars. Instead, they can sell their trillions of reserves and FLOOD the market with unwanted greenbacks.
