Special Drawing Rights (SDRs) and Soros' Bretton Woods.

Discussion in 'Wall St. News' started by Elder000, Apr 28, 2011.

  1. Elder000


    If you never heard of Special Drawing Rights (SDRs) you will as the dollar continues down.

    But this isn't anything new, for the public it is news. For elite it is long term plans.

    in mind of Soros, the dollar needed to take a back seat and end its stint as the world reserve currency. “The dollar no longer enjoys the trust and confidence that it once did, yet no other currency can take its place."
    Soros happens to be in favor of doing away with the dollar for a long time now.

    Why is Soros and FED so much alike. Maybe they belong to the same "club" or "society", "fraternity" whatever you want to call it

  2. LeeD


    A basket of currencies as a common denominator has been used for some time in investment products. Think of US Dollar index as a popular example. Is SDR just another name for a basket of currencies?
  3. sjfan


    It's something the IMF created. IMF has been trying to drum up interesting in these SDRs for sometime (and china, like PIMCO, periodically talk up this stuff whenever they need the dollar to be a little more favorable so they can buy more USTs).

    In any case, there's no liquid markets for this stuff and no one really cares. It's nothing more than packaged baskets of currencies. The thing about reserve currency is that it's got to be really really liquid - so SDR is out for the time being.

  4. IMHO the Swiss franc is a good candidate.