IMF Green Lights China’s Yuan

Chinese Yuan is given reserve currency status, says IMF

China_KWN_Coin in Globe

November 30, 2015 – China’s currency to have 10.92% weighting, topping the yen and the pound.

Lagarde says Chinese currency meets ‘freely usable’ standard. Continue reading “IMF Green Lights China’s Yuan”

IMF: Chances are 99% that China will get approved for reserve currency status

“If you put all this together, Eric, you have a case for gold.  China is going to back their currency with gold.”

KWN, Maguire

King World News reported yesterday that the IMF is about ready to approve the move and China is ready to step into the position of reserve currency status.  What happens next we can guess.