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Chinese Yuan Could Give the IMF "a Shock It Isn't Prepared For"

By , Associate Editor, Money Morning • @TaraKateClarke -

On Monday, the Chinese yuan joined one of the most elite clubs on the planet: the International Monetary Fund's Special Drawing Rights basket of reserve currencies.

IMF Managing Director Christine Lagarde said the yuan's inclusion was based on a clear indication of the reforms China has carried out.

Of course, the IMF could be dead wrong.

From a practical position, the IMF expects China will have to make its currency more freely tradable than it is - which, along with being a major exporter, is the other criteria the IMF considers in conferring reserve status on a currency, Money Morning Capital Wave Strategist Shah Gilani said on Monday. But there's a possibility the IMF jumped the gun on this.

Dark horizons lay ahead if the Chinese yuan isn't stable enough to deserve its new global reserve status...

Westerners Should "Be Very Afraid" of Friday's Chinese Yuan-IMF Decision

By , Money Morning -

chinese yaun imf

China's yuan was just awarded reserve currency status. This was the precise event former Wall Street banker Evander Smart warned of in September:

"If you live in the West, and this goes down, be afraid, be very afraid," Smart wrote in an op-ed for "future of money" site Coin Telegraph on Sept. 10. "The world is starting to prepare for life without the dollar and westerners should, too!"

Inclusion into the IMF's $280 billion basket of currency reserves alongside the U.S. dollar, the Japanese yen, the British pound, and the euro, becomes official on Nov. 30.

As an SDR world reserve currency, the Chinese yuan is now legitimized as a serious competitor to the U.S. dollar.

Here's what you need to know about the Chinese yuan-IMF decision ...

A Yuan Reserve Currency Is Coming – Brace for a $2 Trillion Global Disruption

By , Associate Editor, Money Morning • @DavidGZeiler -

currencies

It's almost certain a yuan reserve currency will become reality 11 months from now, triggering a foreign currency shift of as much as $2 trillion - an existential threat to the U.S. dollar's status as the world's primary reserve currency.

Last week, Bloomberg reported that International Monetary Fund (IMF) officials have told Chinese officials that the yuan will join the organization's basket of reserve currencies "soon."

Here's why this will make the yuan a disruptive force...

China's Yuan Reserve Currency Plot to Depose Dollar Dates Back Years

By , Associate Editor, Money Morning • @DavidGZeiler -

yuan reserve currency

China has long-planned for a yuan reserve currency to undermine the U.S. dollar.

The People's Bank of China (PBOC) made its first move as far back in 1994 - more than 20 years ago.

And the years of planning have paid off. We're only a year away from a yuan reserve currency now.

Here's why this economic shock will send the U.S. economy into a Great Depression...

Currency Wars: China Now Has Unprecedented Control Over the U.S. Dollar

By , Money Morning -

Currencies

China fired a shot heard 'round the world Aug. 11, stoking fears of what could become the ugliest of all currency wars. In a surprise move, the country massively devalued the yuan 2% - its biggest one-day devaluation in 20 years.

China's yuan devaluation will have more than just that immediate impact - it gives the country unprecedented, long-term control over the U.S. dollar.

Here's how China has managed to place the U.S. dollar on puppet strings...

BREAKING: Devaluing the Chinese Yuan Will Spark a U.S. Economic Collapse

By , Money Morning -

Chinese yuan

The Chinese government made the surprise decision today (Tuesday) to devalue the Chinese yuan. It's an action that could have dire consequences to the U.S. economy.

Today's move was the largest devaluation in the Chinese yuan's history. The yuan's value was cut almost 1.9% against the U.S. dollar.

Here's why that could have disastrous results in the United States...

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