Thursday, May 1, 2014

Jim Rickards: Interesting tweet on commodity based SDR

Today Jim Rickards tweeted the following on his twitter page:

"Best part of travel is serendipity. In DC, I met past chief of SDR Division at the IMF. Doesn't want fiat SDR, agrees commodity backing is key."

This comment catches my attention because I have been told by sources I view as credible this same thing. Please keep this in mind as we follow this over time. The SDR is an internal unit of exchange that cannot be used by the general public or regular banks. 

However, it may be possible to connect the "inside" SDR to an "external" currency that could be used by banks and regular people. This currency could be a digital cryptocurrency and be asset backed (or commodity backed as Rickards mentions).

It's still to early to comment further on this topic, but we will follow it over time and if information becomes public regarding this concept, we will publish it here. 


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