Submitted by J.C. Collins – philosophyofmetrics
Over two years ago now I began a series of articles titled SDR’s and the New Bretton Woods. The ten post series focused on the SDR and its eventual evolution into an internationally traded asset. There was very little information out there at the time on this future transformation of the IMF’s Special Drawing Right currency, and POM broke new ground on many of the facts, trends, and methodologies behind the transition to a multilateral monetary framework.
Each month more and more information and confirmation of the POM thesis emerges which further validates much of what has been presented to readers for over two years. The latest validation comes from the G20 Communique from last weekend’s summit in Shanghai.
Item 11 under Issues for Further Action states the following:
“We look forward to the IMF’s report to examine and reflect on the possible broader use of the SDR by July.”
This one statement provides the largest validation yet for POM readers that we are in fact on the correct course with this thesis. What isn’t clear in the statement is whether July is the deadline for the report to be presented, or when the broader use of the SDR should begin. Considering the time it takes to decide on changes and implement them, it would be my interpretation that it is only the report which is meant to be completed by July.
What started as a recreational analysis on the Federal Reserve, China, and a new monetary framework, has morphed into a full time obsession which has defined a new path in my life. The evolution of my understanding and comprehension surrounding this transition has increased by hundreds of multiples. Presenting this information to the tens of thousands of readers out there who are interested in such things has been one of the greatest honors of my life. Continue reading