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Gold – the final bubble, page-27

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Ophir

11,173 Posts.

51

17/05/15

20:43

Post #: 15296719
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Originally posted by 23skidoo ↑

Gold may eventually gain a place in the IMF SDR basket, but only if supported by
sufficient votes to over-ride the US voting power. I don't see that happening unless there is a crisis. More likely is the inclusion of the Renminbi into the SDR basket for the first time.
the IMF could be forced to consider gold for a place in the SDR basket in the event of another GFC. The SDR could then become the international reserve currency.
On the other hand when China Updates its gold holding during the IMF review of voting rights, scheduled this year, it's holding will certainly propel it into one of the top 2 positions. It may throw its vault doors open to international audit, putting pressure on the U.S. to confirm its holding. If China trumps the actual US gold hoard, it will be game-on for gold and the Renminbi and game over for the USD.
23.

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If China trumps the US gold hoard? It's going to be about 12,000 tonnes to none
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0 Great analysis

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