Thursday, October 2, 2014

http://illiweb.com/fa/empty.gifMinistry of Finance: the state budget empty because of Maliki thefts!

This is why they made Maliki a VP so they could get all the money back

http://illiweb.com/fa/empty.gifMinistry of Finance: the state budget empty because of Maliki thefts!


Today at 8:09 am

Baghdad / said a source in the Ministry of Finance and Treasury that Iraq suffers from a financial deficit caused by the scary former Prime Minister Nuri al-Maliki could lead to cut the salaries of state employees in the coming months. He said Source: The State Treasury Iraqi contain three billion dinars only When asked officials from the Finance and Central Bank threw the reason for al-Maliki, who claimed that Iraqi funds were disbursed to finance the Iraqi army in the battle against Daash without receipts or guarantees because of the security situation that Iraq is going through, adding the source said most of the money went on the campaign trail for the owners and not to arm Army Army because armament contracts mostly been paid for in previous years and either popular mobilization, they have not been paid since 5 months He explained the source that the budget deficit current which did not recognize the total 60 billion dollars due to the halt of oil exports from Kirkuk and the Kurdistan region, which has caused a great loss daily where that Iraq is losing one million barrels per day .obin source said the poles of the National Alliance on Abadi suggested linking the export of oil from Kirkuk to the Kurdistan Region as a temporary solution to address the crisis while stifling that has plagued Iraq. 

VINMAN - NICE TIDBIT !!

VINMAN: Unconfirmed report from Reno we are at the finish line.

Dong and dinar are sneaking in new rates.

Wow! It's All Happening!


---------- Forwarded message ----------
From: Bix Weir <bix@roadtoroota.com>
Date: Thu, Oct 2, 2014 at 9:19 AM
Subject: Wow! It's All Happening!


First of all I think it's time to bring out the Silver Sing-a-Long once again!

Silver Manipulation Song!

Very soon we may see Jamie Dimon humming this song on his "perp walk".

So much data coming in it's hard to keep up. I have posted the latest Friday Road Trip for Private Road Members. Most of what you read on the Road to Roota takes a lot of reading between the lines but once you understand the overall concept it all makes perfect sense. Here's the link:


Topics this week include:

- Breaking News...Chief US Monetary Watchdog RESIGNS!!
- ALERT: Good Guys' Silver Run Begins
- News of Bad Guys Demise Abounds
- 4 Other SEC lawyer Whistle Blowers...AND ONE CFTC JUDGE!
- My Questions for Greenspan

Crazy days my friends. Stay alert and ready for CHANGE!

May the Road you choose be the Right Road.

Bix Weir

Governments seize colloidal silver shipments being used to successfully treat Ebola patients

The Rumor Mill News Reading Room 
Governments seize colloidal silver shipments being used to successfully treat Ebola patients
Posted By: Watchman
Date: Thursday, 2-Oct-2014 09:37:02

(NaturalNews) Efforts to bring natural Ebola treatments to suffering West Africans have been squelched by the World Health Organization (WHO), which recently blocked multiple shipments of nanosilver solution measuring at 10 parts per million (ppm) from entering the region, leaving thousands to suffer needlessly.
WHO officials also reportedly called off a trial at an Ebola isolation ward where local health authorities were set to begin administering the silver, which the U.S. government previously demonstrated is highly effective against Ebola. WHO ordered the trial not to proceed despite the fact that it had earlier voiced support for experimental treatments.
Both WHO and the U.S. Centers for Disease Control and Prevention (CDC) have given their blessing to experimental therapies for Ebola, citing a lack of proven treatment options. But when it comes to using therapeutic silver, all bets are off, it seems.
Authorities block small shipment of nanosilver three times
According to the Natural Solutions Foundation (NSF), efforts to ship nanosilver into Sierra Leone have thus far failed. The organization has been trying to deliver a shipment of 200 bottles of nanosilver 10 ppm, and 100 tubes of nanosilver gel, to no avail. At this point, the shipment has been returned to the U.S. for the third time.
"That parcel, shipped Air Express at a cost of $3400 to Sierra Leone on August 20, never made it out of Paris," reads an NSF action alert. "Air France has yet to find a reason for that. But it made its way back to the US again, apparently for the 3rd time without being delivered to Africa."
People are dying, and bureaucrats are still playing politics with silver
Formerly classified documents obtained from the U.S. Department of Defense (DOD) reveal that antimicrobial silver solutions like the kind NSF is trying to deliver to Africa have proven benefits in fighting Ebola and other forms of hemorrhagic fever. Research conducted by the DOD and several other federal agencies back in 2008 confirmed this, though health regulators largely ignored it.
A presentation entitled "Silver Nanoparticles Neutralize Hemorrhagic Fever Viruses," which revealed exactly what its name suggests, was buried and kept secret for years. In essence, investigators determined that simple silver solutions neutralize viruses like Arenavirus and Filovirus, both of which are related to Ebola.
Interestingly, the research was conducted with the backing of the DOD's Defense Threat Reduction Agency (DTRA) and the U.S. Strategic Command Center for Combating Weapons of Mass Destruction. The presentation was given by researchers from the Applied Biotechnology Branch, 711th Human Performance Wing of the Air Force Research Laboratory.
But not a single mainstream media outlet reported on the presentation, and to this day its findings have been largely ignored by establishment health authorities. Sadly, this political quagmire -- nanosilver is an obvious threat to pharmaceutical interests, and thus is being marginalized -- is resulting in thousands of needless deaths in West Africa with no end in sight.
Contact your representatives and demand that nanosilver be used in Africa
NSF is calling on 10 million people to write their representatives and demand that clinical trials be conducted on nanosilver in Africa. The group says doctors and nurses need nanosilver to protect themselves, and patients need it to overcome the disease. Recommended dosages for each application are available at the following link; at the bottom of this page, you can also contact your representatives by inputting your zip code:
http://www.naturalnews.com/047101_ebola_colloidal_silver_government_seizure.html 

omegaman

omegaman: platform said that there was to be a big announcement 

tonight...no confirmation yet...

oilrat: All is good....just be patient....we are very close.....trust me, the US will not be left out!
US has done a lot of negotiating to avoid a major catastrophe with our currency. All will be fine!!!!

sunshine62: Furthermore, I just have a feeling everything is going to turn out just EXACTLY the way we want it to! 

THIS BLESSING WILL BE SUPERABUNDANTLY, OVER AND ABOVE ALL OF OUR HOPES, THOUGHTS, DREAMS, OR PRAYERS!


Hang in just a little while longer....we are almost there!

Wednesday, October 1, 2014

TNT Members Bank Stories and Opinions Wednesday PM

TNT Members Bank Stories and Opinions Wednesday PM

10/1/2014
Bellsouth:  I FINALLY have a Bank Story! 10/01/2014

I have a VERY good one!

Went to Wells Fargo to open an account today. I went to one in the next little town. The bank Manager approached just to say "hello"...this is a small branch so, any business is good business.

He asked me if he could help me and I told him that I wanted to open an account...hopefully without a minimum deposit.

I said that it was a holding account for a large deposit that I am expecting to make very soon.

He asked me if I was aware of the foreign currencies that are soon to revalue.
....
My eyes probably popped out of my head! I said that, as a matter of fact, I was opening the account for that purpose.

He asked me which of the three currencies did I have.

I told him what I had.

He grinned REAL big and told me that I should definitely check back in a couple of days because he had just gotten a memo that this "thing" was about to hit the fan.
He said to let him know if I needed a private banker. I promised him that I would definitely be back to his branch and that I would ask for him.

I never thought that I would have a Bank Story; from right here in little old Mississippi!

I feel SO much better about this event.

**********

DesertDawg:  Quote:"The ZIM quoted is the ZWL which is not in circulation - the rate is what is electronically traded with ZWL for their trade and international commerce. The paper values will not be released until the RV is publicly released."  - From Wells Fargo contact

**********

BestBuy:  
My bank story- Chase max allowed to buy is $5.40 usd worth of dong.

I went in to Chase few minutes ago to buy $500 dong. The teller told me that I can
not because they have a max only 100,000 dong I can buy which equal to $5.40.

I have purchased dong at this chase before without limit but today I saw there were popups that switched to max only- 100,000 dong.

No matter what number the teller puts in it all end up 100,000 = $5.40 dongs.

Guys, We are here! Someone try to go to Chase and confirm it.

When you go, please go, don't just ask if they have dong for sale but actually buy $100+ then you will see the system show you the max reached.

The teller will tell you they have dong but he does not know there is a max 100,000 until he entered the amount.

***********

Energy Sparkles:  IT IS GREAT WHEN YOU HEAR IT FROM A BANKER.  I HAVE TALKED TO SEVERAL: CHASE, WF, BOA AND 1ST CONVENIENCE BANK.

ALL HAVE HAD SOMEONE IN THE BANK THAT KNEW AND SOME THAT DIDN'T. THEY ARE IN 3 DIFFERENT STATES AS WELL.

MY CHASE BANKER KNOWS AND LOOKS FOR ME 3 TIMES A DAY.  THEY UPDATE THE VALUES OF CURRENCIES 3 TIMES A DAY: ALL EST 9, 12 & 3.

W.F. IS ONLY AT: EST 9AM.

BOA IS THE SAME AS CHASE AND

CITI BANK IS THE SAME AS W.F.

ALL WHAT I HAVE RESEARCHED OVER THE LAST YEAR.

I HAVE TOLD WF, CHASE & 1ST CONV BANK MANAGERS: "WHO EVER CALLS ME FIRST WILL BE THE BANK THAT I EXCHANGE WITH."

I HAVE LET THEM KNOW I HAVE 3 DIFFERENT BANKS THAT I BANK WITH, BUT THE 1 THAT CALLS FIRST WILL GET ME FIRST.  I GAVE EACH MANAGER MY CARD AND TOLD THEM I HAVE 3 DIFFERENT CURRENCIES THAT SHOULD BE REVALUING.  TOLD THEM I WOULD TELL EACH FAMILY MEMBER WITH AN EMAIL THEIR NAME AND NUMBER TO EXCHANGE WITH.

ALL 3 SEEMED TO BE VERY HAPPY THAT I WAS WILLING TO GIVE THEIR INFO TO FAMILY SO THEY WILL GET 20 MORE PEOPLE IN WITH CURRENCY.

I LOVE IT CAUSE THEY WILL BE CALLING ME.  BUT IF TONY CALLS WITH 800#'S FIRST THEN GREAT,

BUT IF THINGS GOES DIFFERENT THEN I SHOULD BE GETTING A CALL.

WIN WIN IN MY BOOKS
 

Okieoilman - TOMORROW!!!!!!!!!

okieoilman] GOOD WEDNESDAY NIGHT AMERICA, SHIPS AT SEA AND ALL OUR WORLD WIDE FRIENDS. BY THIS TIME TOMMOROW YOU SHOULD BE HEARING THE NEWS THAT WE HAVE ALL BEEN WAITING TO HEAR. ALSO TONIGHT THERE WILL BE SOME HAPPY CAMPERS ON THE "LEFT COAST". REMEMBER WHEN THIS BLESSING OCCURS CONSIDER THIS--"WHAT YOU HAVE OBTAINED CHEAPLY DON'T ESTEEM TO HIGHLY". THERE SHOULD BE MORE DEFINED INTEL SHORTLY. ------BLESSINGS GALORE------OKIEOILMAN----10-1-2014

A Tale of Two

As another Lame Cherry exclusive in matter anti matter.

The delusion of the leftist mind is a fascinating thing in seeing the sins in others, but the righteousness of their sins.

America in 1960 had as a voting block a group of bratty draft dodgers who had avoided Harry Truman's Korean War and grown pacifist in the Stockholm Syndrome of the Soviet Nuclear Bloom. President Dwight David Eisenhower had afforded them this snobbish intellectualism, and it personified in the Dan Rather type.

America was facing in Joseph Kennedy the overthrow of the Franklin Roosevelt machine, which had neutered  Mr. Kennedy to the political sidelines, so as not to be a FDR machine contender from 1940 on, but the grasp of the old guard had slipped as Joe Kennedy embarked upon the Massachusetts style of bully thug electioneering to seize the 1960 democratic Presidential nomination.

In any fair process, Lyndon Johnson would have walked away with the process, but Americans tired with old, ugly and safe nominees, threw it all away for the criminal theft of the 1960 Presidential election by the Kennedy machine.

I was thinking of the utter bias of sinners and the self righteous in the smearing which Richard Nixon endures and the adulation that John Kennedy is endeared with, when the reality is, Richard Nixon was the moral man and John Kennedy was the immoral delinquent.

Richard Nixon grew up with no money. John Kennedy was a millionaire trust fund baby at birth.
Richard Nixon fell in love with a girl named Pat who would have nothing to do with him, but Richard loving Pat, did have access to a car, and drove her and her date on their dates. With that, Richard Nixon won the heart of the woman he loved and was always faithful to.
John Kennedy married a young girl of affluence named Jackie who was pretty as a political statement. He cheated on her constantly.

In World War II, Richard Nixon was in the United States military. He served in the Pacific as an officer, and being poor he would not play poker to squander his money. When he found out that in playing poker in only betting on hands which would win, he began playing and actually saved over 1000 dollars in his winnings.

John Kennedy in World War II was given command of PT 109, which was sunk and his crew harmed. There never was a court martial over this, and for this he was propagandized as a hero.

Richard Nixon could not afford to go to college. He had to enter a California junior college in order to prove himself, and was then allowed to enter Georgetown University.
John Kennedy had all doors opened to him, as a party boy and graduated from Harvard.

Richard Nixon took on communism and helped bring it to ruin in America. John Kennedy focused on unions for political gain.

John Kennedy as President unleashed his brother Bobby on Conservatives in order to legally define them as insane.
Richard Nixon as President spoke for the Silent Majority of law abiding Americans.

The smear is Richard Nixon had dirty tricks, but it has been show that democrats provided the dirty tricks on Richard Nixon and Watergate was a Kennedy linked coup to bring down Richard Nixon in operations under E. Howard Hunt and G. Gordon Liddy which Nixon had no knowledge of.
John Kennedy was nothing but dirty tricks in the guise of his operatives hiring old women to come up to Nixon after the debates to tell Nixon he had lost. John Kennedy stole the 1960 Presidential election from Richard Nixon, and for the good of the country, Richard Nixon did not legally challenge it.

John Kennedy almost brought the world to nuclear obliteration at the Cuban Missile Crisis. Richard Nixon through detente brought the beginning of the end of the Cold War.
John Kennedy started Vietnam. Richard Nixon ended Vietnam.

John Kennedy was assassinated for cartel reasons. Richard Nixon had a coup staged against him by communist cartel sympathizers.

Those are the absolute historical facts. Richard Nixon was not perfect as no person is, but Richard Nixon was a faithful and moral man, who worked for the prosperity and security of these United States.
John Kennedy was an adulterer and immoral man, who worked for the prosperity and security of the United States.

Yes in this, Richard Nixon is held up constantly by the agents of communism as the worst person ever, and John Kennedy is enshrined by deluded liberals as the most wonderful person ever.

John Kennedy's administration was one of dope use and using the CIA to assassinate other leaders. Richard Nixon played the piano and used the diplomatic corp to find detente in a world on the nuclear edge.

It is ludicrous and criminal what has been done to Richard Nixon in knowing the facts, as much as how John Kennedy has been protected when his failures and nature were known.

Was it a good thing that John Kennedy issued Treasury notes? Yes it was. Was it a good thing that Richard Nixon issued price controls? No it was not.

It is the matter of it all coming down to a moral man in Richard Nixon being castigated when John Kennedy did far worse politically and was nothing of the morality of Richard Nixon by actions.

Richard Nixon was one of the greatest Presidents America ever had or will have. His policies should be a study in foreign and domestic issues to learn from, and to build upon.
John Kennedy was mediocre. The contest to the moon and issuing Treasury Bills were his two legitimate actions. The rest were absolute failures of the worst kind to harm America.

If the Marxists and deluded Liberals would leave Richard Nixon in peace, I would not bother with John Kennedy, but hold their debaucherous criminal up as an example to recognize Richard Nixon as a man of character, who had a coup waged against him, smear campaigns and through it all was at the close of his life, called upon by President Bill Clinton to council Mr. Clinton in how to deal with world politics.

Those are the realities and why this blog defends the underdog of Richard Nixon, as he truly was among the great Presidents

nuff said

What's it like to grow old in YOUR country? Global index ranks the world based on quality of life for the over-60s

What's it like to grow old in YOUR country? Global index ranks the world based on quality of life for the over-60s

·        The 2014 Global AgeWatch Index ranks 96 nations on the quality of life for the over 60s
·        The index studies income, employment opportunities, access to public transport and life expectancy
·        Norway and Sweden are currently the best countries to grow old in, and Afghanistan and Mozambique are the worst
·        The United States is in 8th place, the UK is in 11th and Australia is in 13th
·        Report predicts that by 2050, 21% of the global population will be over 60 - almost double the current 12% figure
·        Data was only available for 96 countries, resulting in many not being included, such as Madagascar and Cuba

Across the world, life expectancy is steadily increasing and, on average a woman aged 60 today can expect to live until she is 82. For men, this is 79.
But the quality of life for this ageing population varies drastically from country to country.
Research has discovered that the best country to currently grow old in is Norway, followed by Sweden and Switzerland, while Afghanistan and Mozambique are the worst. 
The US is in 8th place, the UK is in 11th and Australia is in 13th.
Scroll down for video 
The 2014 Global AgeWatch Index ranks 96 nations on the quality of life for the over 60s. Norway, Sweden and Canada are currently the best countries to grow old in. At the opposite end of the scale is Afghanistan, Mozambique and West Bank and Gaza. The US is in 8th place, the UK is in 11th and Australia is in 13th
+4
The 2014 Global AgeWatch Index ranks 96 nations on the quality of life for the over 60s. Norway, Sweden and Canada are currently the best countries to grow old in. At the opposite end of the scale is Afghanistan, Mozambique and West Bank and Gaza. The US is in 8th place, the UK is in 11th and Australia is in 13th
BEST AND WORST COUNTRIES
TOP 10 COUNTRIES
BOTTOM 10 COUNTRIES
Norway
Afghanistan
Sweden
Mozambique
Switzerland
West Bank and Gaza
Canada
Malawi
Germany
Tanzania
Netherlands
Pakistan
Iceland
Jordan
US
Uganda
Japan
Zambia
New Zealand
Iraq
That’s according to findings from the 2014 Global AgeWatch Index.
It ranks 96 nations on the basis of the quality of life and social and economic status of older people, aged 60 and over.
The index studies four areas, in particular.
Income covers the state of pensions, relative welfare of older people, GDP in each country, and poverty rate in old age.
Health status includes life expectancy at 60 and psychological status.
Capability covers the employment level and educational status of older people, and ‘Enabling environment’ includes physical safety, social connections and access to public transport.
From this index, governments can use the findings to identify policies to improve the lives of their older people.
Based on the research, Norway is the best place for older people, alongside Sweden, Switzerland and Canada.
The UK ranked 11th overall, and 3rd for the enabling environment, but scored poorly for health, at 27th. 
Globally, by 2050, the report claims the number of over 60s will be 21 per cent of the global population. This is almost double the current figure of 12 per cent. 
Apart from Japan, the top ten countries are in Western Europe, North America and Australasia. Israel and Estonia join the top 20.


The older populations of the three lowest-ranked countries, the West Bank and Gaza, (94) Mozambique (95) and Afghanistan (96), still account for less than five per cent of the total population.
The proportion of over-80s is growing fastest, too – projected to rise from two per cent now to four per cent of the global population by 2050.
And more than a third of countries are falling significantly behind those at the top of the Global AgeWatch Index.
Globally, by 2050, the report claims the number of over 60s will be 21 per cent of the global population.This is almost double the current figure of 12 per cent. The proportion of over-80s is growing fastest, too – projected to rise from two per cent now to four per cent of the global population by 2050
+4
Globally, by 2050, the report claims the number of over 60s will be 21 per cent of the global population.This is almost double the current figure of 12 per cent. The proportion of over-80s is growing fastest, too – projected to rise from two per cent now to four per cent of the global population by 2050
The index studies four areas. Income covers the state of pensions, relative welfare of older people, GDP in each country, and poverty rate in old age. Health status includes life expectancy at 60 and psychological wellbeing. Capability covers the employment level and educational status of older people, and ‘Enabling environment’ includes physical safety, social connections and access to public transport. This graph reveals the top 50 countries
+4
The index studies four areas. Income covers the state of pensions, relative welfare of older people, GDP in each country, and poverty rate in old age. Health status includes life expectancy at 60 and psychological wellbeing. Capability covers the employment level and educational status of older people, and ‘Enabling environment’ includes physical safety, social connections and access to public transport. This graph reveals the top 50 countries
Professor Asghar Zaidi, from the Centre for Research on Ageing at the University of Southampton, led the development of the index, working alongside HelpAge International.
‘The Index points to a mismatch between advances in longevity and a lag in the evolution of policies that empower older people,’ said Professor Zaidi. 
‘Societies have been slow to embrace the positive aspects of longevity and to see older people as a resource that, in the right circumstances, can repay investment with extended working careers as well as more self-reliant, healthy and independent living.’
The report also highlights the disparity between those nations at the top of the index, and those in the lower third. 
For example, on income security, 26 countries scored less than half the top values set by Norway and France (89.1 and 88.0 respectively).
Toby Porter, Chief Executive of HelpAge International, added: ‘The unprecedented rate and speed of population ageing presents policy-makers with a challenge. 
'Only if they act now will they have a chance to meet the needs of their citizens and keep their economies going.’
‘An essential distinction is required between policies suitable for the current generations of older people and those required for future generations,’ continued Professor Zaidi.
‘Today’s older people need protection and empowerment. For future generations the focus must be on providing opportunities for employment during their working lives and better mechanisms to build resilience for old age.’
Sufficient data was only available for 96 countries, resulting in many not being included, including Kazakhstan, Madagascar and Cuba.

THE GLOBAL AGEWATCH INDEX 

The 2014 Global AgeWatch Index ranks 96 nations on the basis of the quality of life and social and economic status of older people, aged 60 and over
+4
The 2014 Global AgeWatch Index ranks 96 nations on the basis of the quality of life and social and economic status of older people, aged 60 and over
The 2014 Global AgeWatch Index ranks 96 nations on the basis of the quality of life and social and economic status of older people, aged 60 and over.
The index studies four areas, in particular.
Income covers the state of pensions, relative welfare of older people, GDP in each country, and poverty rate in old age.
Health status includes life expectancy at 60 and psychological status.
Capability covers the employment level and educational status of older people, and ‘Enabling environment’ includes physical safety, social connections and access to public transport.
From this index, governments can use it to identify policies to improve the lives of older people. 

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China To Join IMF's Reserve Currency Unit

China To Join IMF's Reserve Currency Unit

10/1/2014
China On Way To Joining IMF’s Reserve Currency Unit


Renminbi could enter ‘magic circle’ through SDR broadening     By David Marsh

The stage is set for the Chinese renminbi potentially to develop further as a world currency by entering the 45-year-old Special Drawing Right, the International Monetary Fund’s composite currency unit used in official financial transactions and reserves.

No decision has been made. But measures already taken by the Chinese authorities to internationalise the renminbi, and a big increase in financial market interest in the currency, increasingly point towards a broadening of the SDR’s composition from January 2016.

This is in spite of the renminbi’s formal inconvertibility, reflecting Beijing’s restrictions on capital account transactions that are highly unlikely to be completely scrapped in the foreseeable future
~~~
An additional factor building momentum towards revitalising the SDR is China’s own action to galvanise major emerging market economies towards the reform of world monetary arrangements.

This includes the five nation Brics group’s decision to set up the New Development Bank in Shanghai, partly as a challenge to the Bretton Woods institutions, the IMF and the World Bank.

Inclusion of the renminbi in the SDR basket, although ostensibly a technical step, would confer upon the Chinese unit the de facto standing of a reserve currency, a highly important symbolic development and the first time that an emerging market currency would attain this status.

Chinese entry into the ‘magic circle’ of reserve currencies in the SDR, along with the other components (the dollar, euro, yen and sterling), has already been advanced by a ground-breaking decision announced this month by the UK Treasury.

The British government will issue renminbi-denominated bonds, the first sovereign government to take such a step (apart from the Canadian province of British Columbia), and allow the proceeds to be held in the UK reserves managed by the Bank of England, breaking two long-held taboos for the UK authorities.

The IMF will undertake a technical criteria-based review of the options for widening the SDR in a review next year, with most of the work to be conducted from mid-year onwards and any changes taking effect in January 2016. The main conditions are that a currency in the SDR should be widely used in trade invoicing and should be ‘freely usable’ in international payments and asset management.

Other possible indicators include use of currencies in international debt securities and bank liabilities, and foreign exchange spot market turnover. In all these areas the renminbi, although affected by residual capital account restrictions, has made impressive strides in the last two years.

Next year’s planned review, five years after the last IMF analysis of the SDR’s composition, may touch too on the opportunity for the currency basket to play a greater role in financial markets, for example in denominating bond issues or certificates of deposit.

In view of worldwide interest in the renminbi, repositioning and redynamising the SDR by including a leading emerging market currency could encourage greater interest in SDR-denominated instruments by banks, corporations, asset managers and other institutions around the world. SDR bond issues, which made an entrance in the early 1980s, have never achieved much support on financial markets.

The IMF created the SDR in 1969 as an additional reserve asset (in addition to the main official assets, the dollar and gold, which were then regarded as in short supply) to support the post-war fixed exchange rate system that collapsed only a few years later, in 1971-73.

The SDR’s value was initially defined as equivalent to 0.888671 grams of fine gold – which, at the time, was $1. After the collapse of the Bretton Woods system the SDR was redefined as a basket of currencies. Today it consists of the four main reserve currencies.

The SDR’s aim was to create a potential claim on the freely usable currencies of IMF members through voluntary exchanges between members. Countries with strong external accounts were empowered to purchase SDRs from members with weak external positions.

However, from the early 1970s onwards, flows of private capital rose progressively, and the SDR’s importance gradually declined.

As a result of developments over the next 12 months, it may be able to make a comeback.

China on way to joining IMF’s reserve currency unit - The OMFIF Commentary 29 Sep 2014