Request any song you want for FREE! All songs requested will be tuned to a 432 Hz frequency.

Request Now

TETELESTAI | 1-800 Numbers

This is where the 800#'s will be listed which will be included in the TETELESTAI post once published.

If there are no 800#'s, the TETELESTAI will still be published once given permission as it contains useful information prior to redeeming/exchanging your currencies.

(Note: The TETELESTAI post is the official "Go" for redemption/exchange.)

Guest Posting & Responding Now Available

Dinar Chronicles is now allowing viewers to guest post and respond to articles. If you wish to respond or speak your mind and write a post/article or about the current situation relating to Iraq, the RV, the GCR and so on. You may now send in an entry.

All you need to do is send your entry to UniversalOm432Hz@gmail.com with these following rules.

The subject line of your email should be: "Entry | (Title of your post) | Dinar Chronicles"

- Proper grammar
- Solely write intel, rumors, news, thoughts, messages regarding Dinarland, Iraq, the RV, the GCR, NESARA/GESARA, the Republic, Spirituality, Ascension and anything that is relating
- Your signature/name/username at the end (If you wish to remain anonymous then you don't need to provide one.)

If you have any questions or wish to communicate with us then please give us an email at UniversalOm432Hz@gmail.com

Send your entry and speak out today!

Follow Dinar Chronicles by Email

Featured Post

RV Intel/Thoughts/News - All Posts for February 23, 2017

Below is a list of all of the content posted for Thursday, February 23, 2017. This will be useful for those of you who may have missed somet...

Thursday, September 29, 2016

Renminbi Joins SDR, What Now for China?

What Now For China As Renminbi Joins SDR?

Since being admitted to the IMF’s elite currency club, Beijing has prioritized GDP growth over structural reforms.

By CHI LO
September 29, 2016

The renminbi will join the International Monetary Fund’s (IMF) Special Drawing Rights (SDR) basket this Saturday, 1 October, which is also China’s National Day. So the day will be double-happiness for China.

For the world, the renminbi’s entry to the SDR basket seems to be much to do about nothing, with only a symbolic impact on both the global and Chinese economy. Even with the third largest weighting (10.92%) in the basket, just behind the USD’s 41.73% and the euro’s 30.93% (see chart), the renminbi remains an indirect, and a tiny, part (0.27%) of global reserves.

As we argued recently, additional central bank demand for renminbi to benchmark their reserve portfolios to the SDR basket weightings is small. There are about 204 billion SDRs outstanding, equivalent to about USD285 billion, compared with USD11.6 trillion of global reserves.

Assuming global central banks will increase their aggregate holding of renminbi to match its 10.92% weighting in the SDR basket, additional demand for the Chinese yuan will amount to USD31 billion, which is a drop in the ocean of global liquidity.


After all, global central banks have had a year, since the IMF’s Board decision last November on including the renminbi, to adjust their portfolios to accommodate the renminbi in the SDR basket.

This means that the bulk of central bank buying renminbi should have happened already. But these central bank inflows have hardly made a dent in China’s financial account, which is still bleeding red, although capital outflows have slowed down sharply (see table).





SDR inclusion of the renminbi is not relevant to the portfolio rebalancing decision (to increase the weighting of renminbi-denominated assets) of international investors. The impact on global portfolio decisions will come from foreign investors’ assessment of China’s fundamental outlook, the opening of China’s capital account and the decision by international index providers, such as MSCI, to include Chinese A-shares in their global indices.

From a reform perspective, the renminbi’s SDR status confirms the recognition by the international community of China’s economic ascendency and structural reform efforts. This should act as an external force and a confidence booster for China to push for more reforms.

​However, it seems that this strategic importance has faded as Beijing has downgraded the priority of structural reforms since the IMF Board decision last year in exchange for upgrading GDP growth as the top policy priority.

In other words, Beijing seems to have taken the attainment of the SDR status as a sign that its role as a force to push structural reforms has been completed. So the collateral benefit of being a SDR currency to China’s reform process has greatly diminished.

​This attitude raises the risk of reform complacency. But this does not necessarily mean that China’s structural reforms will stall post-SDR entry. New reform efforts, such as the expansion of the renminbi offshore market and further opening up of the onshore capital market by expanding the investment quotas and stock connect schemes, will likely proceed faster than other deep-rooted changes, such as SOE and banking reforms.

Finally, the SDR status will facilitate China’s effort to internationalise the renminbi. So it will be more widely-used in international payments going forward. But until some major tasks of structural reforms are done to improve the domestic system, the renminbi will remain a thinly-used reserve currency.

Source

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."

All rights reserved go to their respective holders. We do not own the intellectual property shown on this website, the respective holders own that privilege unless stated otherwise.

We do not endorse any opinions expressed on the Dinar Chronicles website. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on Dinar Chronicles.

Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not intend to and are not providing financial, legal, tax, political or any other advice to any reader of the website. This website is...Read More