Quote Originally Posted by David Merrill View Post
Rumination might include my informal definition of SDR's.

I consider SDR's to be the measure of the conditioning of society to blindly endorse private credit from the local central bank.
SDRs are considered collateral or "lawful money" for the issuance and backing of FRNs as are gold certificates, US Treasuries, and agency securities.

FRNs are liens on the collateral backing the notes according to the FRB.