Chinese renminbi now one of the world’s main central bank reserve currencies

[twh]

http://www.msn.com/en-us/money/marke...id=mailsignout

Predicted a few years ago, finally happened.

[Sunaka]

I quite honestly cannot find a single word that implies the OP title. Can someone help me out here?

[Enfilade]

Misleading title. Nice try.

[Poopymonster]

The International Monetary Fund on Monday approved the Chinese renminbi as one of the world’s main central bank reserve currencies, a major acknowledgement of the country’s rising financial and economic heft.

Just to clarify what I'm looking at.

Monday approved the Chinese renminbi as one of the world’s main central bank reserve currencies

AS ONE OF. Not the end all be all.

You missed the ron_paul_it's_happening.jpeg

[Jinpachi]

Wrong. The article only states that the renminbi has been approved as one of the several reserve currencies. Nothing in the article about the Dollar losing its status as the main one. Click bait thread title

[Silhouette of Seraphim]

http://www.msn.com/en-us/money/marke...id=mailsignout

Predicted a few years ago, finally happened.

China's Renminbi Is Approved as a Main World Currency

Approved as a Main World Currency

*a* Main World Currency

Once again. a. One of many. Not "the."

Did you even read the article you posted?

[precious]

They add chinese currency to IMF, op says dollar isnt anymore the main currency.

They should really add an iq test before u can post to forums.

[Avada Kedavra]

If OP cant prove what he it's saying with credible sources then there is no discussion to be had here. OP learn to read. Click bait is click bait.

[Glnger]

maybe we should congeal nation states under a single currency.................................................................................. .......................................................................................... .......................................................................................... .......................................................................................... .......................................................................................... .......................................................................................... .......................................................................................... .......................................................................................... ........................................

[Stacyrect]

http://www.msn.com/en-us/money/marke...id=mailsignout

Predicted a few years ago, finally happened.

So is the Euro? Not sure why people would buy into the chinese market

[Sunaka]

If OP cant prove what he it's saying with credible sources then there is no discussion to be had here.

Well, I mean, it's kinda nice for China that they're more recognized now, or something?

[Shurkuris]

1.2 billion population vs 300 million population
Economy is vastly stronger than the US
Renminbi is now an approved World Currency

I wonder how China can decide to blackmail or fuck with the US with something as powerful as this?

[Skroe]

OP Didn't read the article, went for sensationalist headline. Cute.

From the article.

The entry itself into the special drawing right is mainly symbolic. But such broader moves toward greater financial transparency and easier trading — part of the process to meet the I.M.F. requirements — will have long term effects on the renminbi’s usage.

It's just more of the Wests (terrible) plan to try and encourage better chinese behavior by making them a stakeholder. Because that's worked up to this point right?

Not that it really matters. This is the balance of global reserves.



If anything, it'll eat some from the Europe, pound and sterling. But the diversified share hasn't really changed for decades.

[xskarma]

Don't make deliberately false titles next time. Edited for clarity.

[Saeran]

The are three reserve currencies at the moment, the US Dollar, The British Pound and the Euro. They are simply adding the Chinese Renminbi.

Perhaps the OP needs to read properly before posting?

[Glnger]

Congeal doesn't mean what you think it means.

I don't think words mean what you think they do.

[Mihalik]

1.2 billion population vs 300 million population
Economy is vastly stronger than the US
Renminbi is now an approved World Currency

I wonder how China can decide to blackmail or fuck with the US with something as powerful as this?

OMG OMG OMG THE SKY IS FALLING!!!

Take a deep breath, and calm down.

1, Population size is barely relevant. By that logic Congo should trump Spain. Yet it doesn't. As a matter of fact it's overshadowed by Austria which has 1/6th of it's population.

2, Chinese economy being "vastly" stronger than the US. Which side of your ass did you pull that one out from? China's GDP is at about 9 Trillion USD, split between a 1.2 billion population. US GDP sits at somewhere around 17 Trillion USD. Population 320 million. You really should learn a thing or two about economics and whatnot before you decide to type whatever crosses your mind.

3, Renminbi being a reserve currency...So? So is the Dollar, Euro, British Pound and Japanese Yen. Making the Renminbi a reserve currency basically just means that that IMF will be buying some of it, and then giving it out as loans. If anything this moves China away from Russia and Russian plans for it's own international bank.

Finally. How the fuck is China supposed to "blackmail" the US? Or better question being...WHY THE FUCK WOULD THEY?

[Glnger]

I also don't think "world currency" registers with you.