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Thread: End Of The Dollar - IMF To Go To SDRs - Latest Video

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  1. #21
    You two make all the fiction seem so... fictional!


    Watch this entry closely. Expand Economy.

    After keeping its currency tightly linked to the US dollar for years, in July 2005 China revalued its currency by 2.1% against the US dollar and moved to an exchange rate system that references a basket of currencies.
    SDR's = fictional basket of currencies. The CIA updates the entry:

    From mid 2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978.

    You can get a bigger picture of that development on this larger image of the process. Note the citation of Genesis 1:27 on the BoE.

    I am with you guys though - there really is no claim like working your own land!

    Last edited by David Merrill; 04-06-11 at 02:03 PM.

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