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Lagarde Anoints Chinese Yuan,Will it Now Demolish the ?Dollar Hegemony??




IMF boss Christine Lagarde is gung-ho about it. IMF staff is too. The Executive Board will consider it on November 30 and in all likelihood approve it. It will take effect in October 2016. Then it?s a done deal: the Chinese yuan will be added to the IMF?s currency basket, the Special Drawing Rights (SDR). A step toward becoming a major global reserve currency.

IMF staff had determined that the yuan meets the requirements of being a ?freely usable? currency,

Read Full Story: http://wolfstreet.com/2015/11/14/chinese-yuan-has-...

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