At Rory’s prescient behest, we have been way out in front of the curve on the Silk Road and on the issue of China using the IMF to push aside the dollar as the reserve currency. Casey Research finally caught up with their own Silk Road piece – more than a year after the Shadow of Truth was chatting about it.
Rory’s Daily Coin has been all over the restructuring of the IMF’s SDR, something on which the mainstream and alternative media has been conspicuously silent. As Rory reports below, the IMF has approved China’s issuance of an SDR-denominated sovereign bond issue:
This is a major first step in delivering a realistic blow to the dominance of the U.S. dollar as world reserve currency. It is no secret that China has been making international moves to make the Renminbi (RMB) a more attractive currency on the global stage. This latest move solidifies the RMB as a world currency.
You can read the rest of Rory’s analysis here plus I suspect we’ll chat about this in tomorrow’s episode of the Shadow of Truth plus we are going to rant about something that is on everyone’s mind: NBC’s abortionist coverage of the Olympics: Global De-dollarization Is Now Assured.