currency Tag

China included to the IMF This weekend was the effective date for China’s acceptance to the IMF. This means China’s currency will be added to the current list of currencies used to calculate the Special Drawing Rights (SDR). A LITTLE BACKGROUND In 2010, China requests to be a...

IMF Special Drawing Rights The 2015 IMF Meeting is currently underway in Lima, Peru. There was much anticipation regarding an announcement slated for October 20th regarding the IMF SDRs & China. China would like to join the currencies which make up the IMF’s Special Drawing Rights (SDR).  The IMF...

What is Fiat Currency? Definition: fi·at [fee-aht, -at; fahy-uh t, -at] noun: fiat; plural: fiats A formal authorization or proposition; a decree. "The King ruled by fiat”, “A political union imposed through imperial fiat”   An arbitrary order. “By royal fiat” Fiat currency defined: Fiat currency is legal tender, not backed by collateral...

By January 2015, China will overtake the United States as the World's Largest Economy with China producing $17.6 trillion versus the US producing $17.4 trillion. Compare this to 2004 when China produced 1/3 that of the United States. Financial Times estimates China accounts for 16.5% of...