IMF's denial of China into SDR will lead to Yuan ending dollar domination sooner

[Mr.Nair]

LOL only slave countries like India use US dollars to trade. Now China is using only RMB and counterpart national currency to trade. We are dumping US dollar assets rapidly! Lucky for USA, traditional slave nations like India are still using dollar.

Then why US still your largest trading partner, when they taunt you,accuse and picturize you as a currency manipulator every time and threat to global peace as of china's rise.Means you do not have any shame left or you sell your backbone for your self interest to US or a slave of US!

So don't bring every time indian crap blah blah..

 

[Hypersonicmissiles]

Highly unlikely, especially when China's overall influence is on decline due to demographics.

One of the stupidest posts ever made. Not surprised you're Indian.

China's power will never decline from here.
It will only increase with each passing year.

China will get stronger economically, financially, technologically, militarily, politically.

 

[Guynextdoor2]

One of the stupidest posts ever made. Not surprised you're Indian.

China's power will never decline from here.
It will only increase with each passing year.

China will get stronger economically, financially, technologically, militarily, politically.

I'm not surprised you're Chinese. High on Mother CHina all great cola.

 

[Hypersonicmissiles]

I'm not surprised you're Chinese. High on Mother CHina all great cola.

Keeping dreaming China will decline and the Indian supa powa will surpass China

You Indians are more brainwashed from your nationalist education system than the North Koreans are. Your country is full of incredibly stupid people including your leaders.

Only in India could an absolute imbecile like Kalam become president and write books about a 3rd world country becoming a superpower by 2012. The fact that you celebrate the life of a complete and utter fool shows how brainwashed the average Indian is.

Philipp Rushton was correct regarding Indians.

 

[anon45]

if you are into economics and finance, stock "manipulation" or manipulation of currencies is part of the trade world wide
It so happens China is the target, and has been so for a long time
Challenging the positions of the USD? It takes time and let the true american economists feel about it

ps as long as Indian trolls, you know who you are! Case closed

Lol ok,

 

[AndrewJin]

Keeping dreaming China will decline and the Indian supa powa will surpass China

You Indians are more brainwashed from your nationalist education system than the North Koreans are. Your country is full of incredibly stupid people including your leaders.

Only in India could an absolute imbecile like Kalam become president and write books about a 3rd world country becoming a superpower by 2012. The fact that you celebrate the life of a complete and utter fool shows how brainwashed the average Indian is.

Philipp Rushton was correct regarding Indians.

Actually their failure lies in genetics.

 

[F-22Raptor]

The U.S. dollar's share of foreign exchange reserves rose for a fourth straight quarter, while the euro's hit a 13-year low, International Monetary Fund data showed on Tuesday.

The greenback's share rose in the first quarter to 64.1 percent of the total allocated reserves, equivalent to $3.887 trillion, amid expectations that the U.S. Federal Reserve is likely to tighten monetary policy at least once this year. The dollar hit a 12-year high against a basket of currencies in mid-March.

"This only goes to show that the dollar is still the world's reserve currency and will be for many, many years to come," said John Doyle, director of markets at Tempus Consulting in Washington.

"With the problems surrounding Greece, it's not a surprise that central banks and investors would want sell the euro and hold a more stable currency like the dollar," Doyle added.

The euro's share of known reserves shrank to 20.7 percent, a 13-year trough. The value of euros held in allocated or known global foreign exchange reserves fell to $1.256 trillion in the first quarter from $1.343 trillion.

Analysts said Asian central banks stepped up sales of the euro as the European Central Bank unleashed a 1-trillion-euro asset purchase program and cut interest rates to negative.

The euro had hit a 12-year low of $1.0457 on March 16 and shed over 11 percent in the first quarter.

The Swiss National Bank shocked markets by removing a cap on the franc against the euro on Jan. 15. That prompted speculation the SNB probably trimmed its exposure.

"Asian central banks have been rebalancing their holdings out of the euro," said UBS currency strategist Geoff Yu. "And while the (Swiss National Bank) was a marginal buyer, the prospects of negative rates are not very appealing for these investors."

Global foreign exchange reserves fell to $11.433 trillion in the first quarter from $11.589 trillion in the fourth quarter, IMF data showed. The decline began in the third quarter of 2014.

The amount of allocated foreign exchange holdings shrank to $6.062 trillion from $6.086 trillion in the prior quarter.

Global reserves are assets of central banks held in different currencies, primarily to back their liabilities. Central banks sometimes buy and sell currencies from official international reserves to influence exchange rates.

UPDATE 2-U.S. dollar's share of reserves rises in Q1; euro's drops| Reuters

 

[Viet]

When is "sooner"?

 

[TaiShang]

Trading wont give you extensive diplomatic power like that of US.
And India is just began their full fledged journey in entire field including manufacturing sector



Really.
But history says a lot about Chinese travelling in to India for education .
Not vice versa .
We are here dude and we will use US$ in our ever 7.5 GDP rate growing economy .

You keep extensive Indian power of being a development disaster while we become even a bigger trading nation with zero influence. I guess I can live with that.

Then why US still your largest trading partner, when they taunt you,accuse and picturize you as a currency manipulator every time and threat to global peace as of china's rise.Means you do not have any shame left or you sell your backbone for your self interest to US or a slave of US!

So don't bring every time indian crap blah blah..

No, it did not for a while now. And when they called China manipulator without action, we did not give a damn.

In fact, we saw it as a testament of China's complete financial sovereignty. Was kinda nice.

Lol ok,

Good, Indian.

 

[SrNair]

You keep extensive Indian power of being a development disaster while we become even a bigger trading nation with zero influence. I guess I can live with that.



No, it did not for a while now. And when they called China manipulator without action, we did not give a damn.

In fact, we saw it as a testament of China's complete financial sovereignty. Was kinda nice.



Good, Indian.

There are other nation in this world that can develop big trade status with their human resources.

 

[Hypersonicmissiles]

There are other nation in this world that can develop big trade status with their human resources.

Like India?

Dream on.

 

[SrNair]

Keeping dreaming China will decline and the Indian supa powa will surpass China

You Indians are more brainwashed from your nationalist education system than the North Koreans are. Your country is full of incredibly stupid people including your leaders.

Only in India could an absolute imbecile like Kalam become president and write books about a 3rd world country becoming a superpower by 2012. The fact that you celebrate the life of a complete and utter fool shows how brainwashed the average Indian is.

Philipp Rushton was correct regarding Indians.

Dude dont misunderstand .
Let me ask you one question.

What is your qualifications to target Dr Kalam, a man that was even honoured by Chinese science community ?
What is your quality and credibility to post a shit like this?

Like India?

Dream on.

We will dream and will make that a reality .We began our journey with nothing in 1947 ,after partition .
And now we have confident about us.

 

[jamal18]

Let me state a few points.

1. Since the last financial crisis the US has been printing dollars by the trillion (quantitative easing). Each new dollar printed devalues the dollar in your hand. No country in its right mind wants to hold on to it. This fact alone will bring an end to its role as the world reserve currency.

2. Many countries are coming to bilateral agreements using each others currency, an effective vote of no-confidence in the dollar.

3. Almost all countries are buying gold; China,Russia,Germany etc. This can only be as a preparation for the end of the dollar, as Gold will maintain its value unlike currencies, which are essentially paper.

4. The shift in support by the US from the Saudis to Iran has apparently infuriated the Saudis. Together with the lack of value of the dollar this will begin the end of the 'petrodollar'. If the oil producers want payment in anything other than the dollar, the downward pressure on the dollar will be intolerable.

5.The only reserve currency of the world is the dollar. At present no other currency can replace it on its own.

One has to be absolutely blind not to see that the day of the dollar is over. All that is absent is its public burial.

What will happen after is something else.

 

[vtnsx]

Let me state a few points.

1. Since the last financial crisis the US has been printing dollars by the trillion (quantitative easing). Each new dollar printed devalues the dollar in your hand. No country in its right mind wants to hold on to it. This fact alone will bring an end to its role as the world reserve currency.
Disagreed

2. Many countries are coming to bilateral agreements using each others currency, an effective vote of no-confidence in the dollar.
Disagreed

3. Almost all countries are buying gold; China,Russia,Germany etc. This can only be as a preparation for the end of the dollar, as Gold will maintain its value unlike currencies, which are essentially paper.
Disagreed

4. The shift in support by the US from the Saudis to Iran has apparently infuriated the Saudis. Together with the lack of value of the dollar this will begin the end of the 'petrodollar'. If the oil producers want payment in anything other than the dollar, the downward pressure on the dollar will be intolerable.
yes and no.

5.The only reserve currency of the world is the dollar. At present no other currency can replace it on its own.

One has to be absolutely blind not to see that the day of the dollar is over. All that is absent is its public burial.
You talk like a used car salesman here.

What will happen after is something else.

But overall cool story, bro.

 

[Fenrir]

2. Many countries are coming to bilateral agreements using each others currency, an effective vote of no-confidence in the dollar.

Not quite. The dollar is in more demand than ever before, the gold market's decline is a function of this demand:

Reasons For The Recent Decline In Gold Prices - Forbes

If you'd like a more recent article, here's one from yesterday noting that as the Yuan was devalued, investors flock to the USD as a safe-haven investment:

"There’s broad demand for the US dollar against a range of Asian currencies"

The dollar is in greater demand than before as global economic insecurity makes investors seek safe assets and holdings, which the USD is.

Australian dollar falls to 73.5 US cents as China's central bank devalues yuan | Business | The Guardian

Even a slowdown or reversal of China and Japan's holdings of US treasuries didn't have an impact, as global demand is increasing the appetite for US assets:

“China may be stepping away, but there is such a deep and broad buyer base for Treasuries, particularly when you have times of uncertainty,”

China Slashes U.S. Debt Stake by $180 Billion, Bonds Shrug - Bloomberg Business

as Gold will maintain its value unlike currencies, which are essentially paper.

Let's ask Venezuela:

Ravaged by Oil’s Collapse, Venezuela Now Has a Big Gold Problem - Bloomberg Business

It seems gold's ability to "maintain its value unlike currencies" is now a headache for Venezuela which has watched its gold holdings drop in value.

@Shotgunner51 @LeveragedBuyout you guys are our financial people, any thoughts or takes?