(Note: Thank you for supporting American businesses like the one presenting a sponsored message below and publishers like Gateway Pundit. We appreciate your support!)
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.
Rickards adds that the IMF may expand the role of SDRs, thus making “China an integral part of the new world money order.”
In other words, the SDR is about to get stronger… and the USD is