[lbo-talk] Speaking of the BRICs...

[dredmond at efn.org]

Two interesting data-points: the $ made up 73% of global central bank
reserves in 2001, but only 64% today, and the broadening of the IMF's
special drawing rights or SDRs wouldn't involve just the Chinese renminbi,
but the currencies of the other BRIC nations as well:

http://www.bloomberg.com/apps/news?pid=20601087&sid=atQgG1C5Ielw
"China’s Central Bank Renews Call for New World Reserve Currency"

It won't happen overnight, but through regional trade and economic
integration.

-- DRR