Elmerf123456: This is the big news folks. Big. Big Big. Go to Bloomberg. Chinese is becoming a reserve currency and it means we are at the doorstep..Period!!!
This will happen so quick and change things you will not know how to react. Watch!!!!
Announcement nov 30th this year not next.
Listen for a minute. This is great and it’s no bad news regardless who said what. This is what we expected and it has just been validated. Bingo!
I’ve said a million times this isnt just about Iraq. This is Global and all part of our GCR.
Big Moves peeps. Big moves.
SassyD : Elmer…. another BIG Friday evening/night News Dump that they hope few see or pay attention to !!!
Elmerf123456 : Sassy you are correct. Sassy that’s when they do it.
With China’s inclusion we are closer than ever period IMO.
If they broadcasted the exact time and date of the inclusion, it would allow the world to short sell the dollar and it would hurt the market. They won’t broadcast that stuff so they announce intentions carefully.
I’ve been looking for this and it came out while the news planned it. When no one watches on a Friday. …..Perfect and they forgot that we watch.
I suspect we are going to see the RV long before Nov 30th Chinese Yuan inclusion now because that’s how it was planned. Now that means the RV is on our doorsteps peeps.
This has been a very complicated task. We only know what we know. It’s a plan in the making for over 50 years. It’s hard for us on the outside to understand all that has transpired but we are seeing so much change now and on a global currency event.
Be blessed that you are here and now. Because in the end that’s all that matters.
Because it’s the ticket that matters not the time you held it.
Each and every one of us came together from all walks of life. The point is we stuck through all sorts of things and some of us unfortunately passed on.
Remember to do good with your blessings and don’t forget some are not as fortunate as you all will be. Do good please. It’s not what you take from the world that matters….it’s what you give back that matters most.
The 50k notes don’t confuse the RV. They are for large purchase. The rest of the story comes quickly.
Jed4: @elmerf123456 do you think what happened in Paris is going to affect the RV? I just heard the French PM is declaring war on ISIS..just wanted your thoughts??
Elmer123456: Jed. No
Elmerf12346: One last thing that streamed by fast that some missed. Here we go.. IMF planned inclusion of the Chinese Yuan is Nov 30th. The RV of IQD and other currencies were to happen b4 the Chinese Yuan. So we are now in the doorstep! Good times and goodnight all my TNT family. Now you have a window.
JerseyboysfaninMN: Elmer… agreed. The RV needs to happen FIRST.
Harambe: China’s yuan takes leap towards joining IMF currency basket on Nov 30
IMF staff say renminbi meets criteria to join SDR basket
* IMF’s Lagarde backs staff recommendation
* Final say rests with board; discussion on Nov. 30 (Adds Chinese central bank reaction, edits)
By Krista Hughes
WASHINGTON, Nov 13 China’s yuan moved closer to joining other top global currencies in the International Monetary Fund’s benchmark foreign exchange basket on Friday after Fund staff and IMF chief Christine Lagarde gave the move the thumbs up.
The recommendation paves the way for the Fund’s executive board, which has the final say, to place the yuan on a par with the U.S. dollar, Japanese yen , British pound and euro at a meeting scheduled for Nov. 30.
Joining the Special Drawing Rights (SDR) basket would be a victory for Beijing, which has campaigned hard for the move, and could increase demand for the yuan among reserve managers as well as marking a symbolic coming of age for the world’s second-largest economy.
Staff had found the yuan, also known as the renminbi (RMB), met the criteria of being “freely usable,” or widely used for international transactions and widely traded in major foreign exchange markets, Lagarde said.
“I support the staff’s findings,” she said in a statement immediately welcomed by China’s central bank, which said it hoped the international community would also back the yuan’s inclusion.
Staff also gave the green light to Beijing’s efforts to address operational issues identified in a report in July, Lagarde said.
The executive board, which represents the Fund’s 188 members, is seen as unlikely to go against a staff recommendation and countries including France and Britain have already pledged their support for the change. This would take effect in October 2016, during China’s leadership of the Group of 20 bloc of advanced and emerging economies.
The United States, the Fund’s biggest shareholder, has said it would back the yuan’s inclusion if it met the IMF’s criteria, a U.S. Treasury spokesperson said, adding: “We will review the IMF’s paper in that light.”
If the yuan’s addition wins 70 percent or more of IMF board votes, it will be the first time the number of currencies in the SDR basket – which determines the composition of loans made to countries such as Greece – has been expanded.
China has rolled out a flurry of reforms recently to liberalize its markets and also help the yuan meet the IMF’s checklist, including scrapping a ceiling on deposit rates, issuing three-month Treasury bills weekly and improving the transparency of Chinese data.
Currency analysts say making the yuan the fifth currency in the basket could eventually lead to global demand for the currency worth more than $500 billion.
The People’s Bank of China said the statement was an acknowledgment of the progress China had made in reforms and opening up its economy.
“The inclusion of the RMB in the SDR basket would increase the representativeness and attractiveness of the SDR, and help improve the current international monetary system, which would benefit both China and the rest of the world,” the PBOC said in a statement.