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Nick Beams – World Socialist Web Site – The significance of the elevation of the Chinese renminbi

The elevation the Chinese renminbi (also known as the yuan) to the basket of global currencies making up the International Monetary Fund’s special drawing rights (SDRs), in effect making it an international reserve currency, is unlikely to have any major immediate effects. But it does underscore the vast transformation in the foundations of the world economy over the past three …

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Ariel Noyola Rodríguez – China’s Yuan will be the Third Most Powerful Currency in the IMF Basket

In spite of the fierce opposition of the US treasury Department, on November 30 the IMF finally approved the inclusion of the yuan in the Special Drawing Rights, the currency basket created in 1969 to complement the official reserves of the members of the multilateral organization. With this the Chinese currency will become, next October 1 (2016), part of the …

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Ariel Noyola Rodríguez – The Devaluation of the Yuan Tests China’s Rise as a World Power

After the devaluation of the yuan, the international financial markets started trembling. Washington accused Beijing of taking advantage of the market. As China wants to incorporate the yuan into the Special Drawing Rights, it is inconvenient to prolong the devaluation. Furthermore, if a currency war broke out, China would risk increasing the economic and geopolitical tensions between countries in the …

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Bill Holter – Financial Warfare, China and the Gold Market

hock of all shocks, the IMF announced the Chinese yuan will not be admitted into the SDR until at least Sept. 2016. What exactly does this mean? I can tell you the gold community is so shell shocked and fearful at this point, it “must be bad for gold”, right? Going back a couple of weeks, China announced they had …

Russia Gets Very Serious on De-dollarizing – F. William Engdahl

Russia is about to take another major step towards liberating the Ruble from the Dollar System. Its Finance Ministry just revealed it is considering issuing Russian state debt in Chinese Yuan. That would be an elegant way to decouple from the dependence and blackmail pressures from the US Treasury financial terrorism operations while at the same time strengthening the bonds …

The Yuan vs. the Dollar vs. Gold: One Step forward by China, One Step back for America? By Bill Holter

Each step forward by the Chinese to make a foothold for the yuan is one step backwards for the grip the dollar has held over the globe.  This topic has several nuances to it, let’s take a look from several vantage points.  As a spoiler, any “steps back” in today’s fiat currency world are steps toward a break in confidence.  Call it deflation …