Silver Stackers logo

Silver Stackers

Discussion forum for those
who love to stack precious metals

You are not logged in.

Announcement

Forum registration is temporarily disabled due to a spam attack.

#1 2016-09-02 03:56:00

Roswell Crash Survivor
Silver Stacker
From: Zeta Reticuli
Registered: 2011-04-11
Posts: 1,858
Trades :   28 

New 'Special Drawing Rights' Bonds sold

Possibly another important step towards reducing the global dependence on the US Dollar as a reserve currency and standard of value.

"World Bank Bond Issue Gives China Chance to Promote Yuan"
http://www.wsj.com/articles/world-bank- … 1472643973

"World Bank backs China's push to challenge US dollar dominance by selling SDR bonds ahead of G20 summit"
http://www.scmp.com/news/china/economy/ … -dominance

For those who are wondering what an SDR is composed of:

IMF wrote:

In accordance with the adopted formula, the following weights will be used to determine the amounts of each of the five currencies in the new SDR basket that will take effect on October 1, 2016:

U.S. dollar
41.73 percent

Euro
30.93 percent

Chinese renminbi
10.92 percent

Japanese yen
8.33 percent

Pound sterling
8.09 percent

Source: http://www.imf.org/external/np/sec/pr/2015/pr15543.htm


The Roswell Crash Survivor

Online

#2 2016-09-02 04:02:30

Ipv6Ready
Silver Stacker
From: North Sydney
Registered: 2016-01-08
Posts: 1,914
Trades :   37 

Re: New 'Special Drawing Rights' Bonds sold

Shouldnt the headline for this be why is the pound still in there?


Looking for 40 pre1944 shilling details in the link
http://forums.silverstackers.com/topic- … -worn.html

Offline

The following 2 users say thank you for this post: Topherclaus, solved

#3 2016-09-02 08:18:47

Topherclaus
Member
From: Central Coast, NSW
Registered: 2015-11-15
Posts: 471
Trades :   15 

Re: New 'Special Drawing Rights' Bonds sold

Headline: The Pound Sterling, the worst asset of 2016?
Fineprint: also, renminbi bends over uncle Sam once more.


An addiction to drugs would be cheaper.
- silver and gold anon. member -

Offline

#4 2016-09-02 08:32:02

Ipv6Ready
Silver Stacker
From: North Sydney
Registered: 2016-01-08
Posts: 1,914
Trades :   37 

Re: New 'Special Drawing Rights' Bonds sold

Topherclaus wrote:

Headline: The Pound Sterling, the worst asset of 2016?
Fineprint: also, renminbi bends over uncle Sam once more.

Appendix 1

Over subscribed 4:1

Winning bidders (fictional smile)

Bank of China
Chinese Industrial Bank
Chinese commercial bank
Development bank of China

All bid the max allowed for the measly $700m lol

Last edited by Ipv6Ready (2016-09-02 08:34:05)


Looking for 40 pre1944 shilling details in the link
http://forums.silverstackers.com/topic- … -worn.html

Offline

#5 2016-09-02 09:01:42

goldenspike
Member
From: Victoria, Australia
Registered: 2016-08-10
Posts: 26
Trades :   

Re: New 'Special Drawing Rights' Bonds sold

This is a list of the most traded currencies.  Of interest is that the Australian Dollar is in the top 5 traded currencies in the world but the Drawing Rights Bonds remove the Australian dollar and replace it with the Yuan.

1.   United States dollar USD ($)    
2.   Euro EUR (€)
3.   Japanese yen     JPY (¥)
4.   Pound sterling GBP (£)
5.   Australian dollar AUD ($)
6.   Canadian dollar     CAD ($)
7.   Swiss franc CHF (Fr)
8.   Chinese yuan CNY (¥)

Offline

#6 2016-09-02 09:10:05

Ipv6Ready
Silver Stacker
From: North Sydney
Registered: 2016-01-08
Posts: 1,914
Trades :   37 

Re: New 'Special Drawing Rights' Bonds sold

^^ a reserve currency is meant be stable right

Also I think I am looking at the same list, it NZ$ is 11th above HK$ at 13th and Korean Won at 15th there must be guidelines that it's using that is skewing the numbers.


Looking for 40 pre1944 shilling details in the link
http://forums.silverstackers.com/topic- … -worn.html

Offline

#7 2016-09-02 14:42:39

Old Codger
Silver Stacker
Registered: 2011-05-13
Posts: 5,128

Re: New 'Special Drawing Rights' Bonds sold

When i buy a newspaper under the clocks at Flinders St, do i offer the paper boy an SDR?

...and how does he make change?

OC


"The Australian Labor Party is a democratic socialist party and has the objective of the democratic socialisation of industry, production, distribution and exchange, to the extent necessary to eliminate exploitation and other anti-social features in these fields."   -  ALP Constitution.

Offline

#8 2016-09-02 18:39:53

Ipv6Ready
Silver Stacker
From: North Sydney
Registered: 2016-01-08
Posts: 1,914
Trades :   37 

Re: New 'Special Drawing Rights' Bonds sold

Old Codger wrote:

When i buy a newspaper under the clocks at Flinders St, do i offer the paper boy an SDR?

...and how does he make change?

OC


As long the paperboy is willing to accept, it is not an issue. As for getting change well....

I wouldn't expect the paperboy to carry around enough cash to give you change, just like if you gave him a 400oz Gold bar, $1m US T-Bill or $100,000 Australian issued bonds either...

Maybe you can accept a personal cheque or an IOU written on the newspaper.


Looking for 40 pre1944 shilling details in the link
http://forums.silverstackers.com/topic- … -worn.html

Offline

#9 2016-09-02 20:03:14

Old Codger
Silver Stacker
Registered: 2011-05-13
Posts: 5,128

Re: New 'Special Drawing Rights' Bonds sold

"or an IOU written on the newspaper."


That's what the Yanks have been doing for the past 25 years or more. And the mugs of this world are still buying them.

OC


"The Australian Labor Party is a democratic socialist party and has the objective of the democratic socialisation of industry, production, distribution and exchange, to the extent necessary to eliminate exploitation and other anti-social features in these fields."   -  ALP Constitution.

Offline

The following user says thank you for this post: Ipv6Ready

#10 2016-09-02 20:43:50

Ipv6Ready
Silver Stacker
From: North Sydney
Registered: 2016-01-08
Posts: 1,914
Trades :   37 

Re: New 'Special Drawing Rights' Bonds sold

Old Codger wrote:

"or an IOU written on the newspaper."


That's what the Yanks have been doing for the past 25 years or more. And the mugs of this world are still buying them.

OC


Be fair US currency use high grade new cotton pulp, newspaper is a bit cheaper smile


Looking for 40 pre1944 shilling details in the link
http://forums.silverstackers.com/topic- … -worn.html

Offline

#11 2016-09-04 22:24:40

goldenspike
Member
From: Victoria, Australia
Registered: 2016-08-10
Posts: 26
Trades :   

Re: New 'Special Drawing Rights' Bonds sold

You could pay in Bitcoin to whoever is prepared to accept it.  More likely than paying in SDR.

Offline

Board footer

Powered by FluxBB