Saturday , September 21 2019
Home / Tag Archives: SDR

Tag Archives: SDR

Esperanto, money’s interval of certainty, and how this applies to Facebook’s Libra

Facebook recently announced a new cryptocurrency, Libra. I had earlier speculated about what a Facebook cryptocurrency might look like here for Breakermag. I think this is great news. MasterCard, Visa, and the various national banking systems (many of which are oligopolies) need more competition. With a big player like Facebook entering the market, prices should fall and service improve, making consumers better off. The most interesting thing to me about Facebook's move into payments is...

Read More »

The SDR: Giving An Old Idea New Life

By IMFBlog June 2, 2017 The IMF's Special Drawing Right, or SDR, was created more than 50 years ago and used only by IMF member countries to supplement their official reserves. The SDR’s value is based on a basket of five major currencies—the US dollar, the euro, the Chinese renminbi, the Japanese yen, and the British pound. In this podcast, Mohamed El-Erian, Chief Economic Advisor at the financial services firm Allianz, and a former deputy director at the IMF, says an expanded use of the...

Read More »

To what extent can Trump trash the dollar?

Donald Trump doesn't like the strong dollar, but is there anything he can do about it?Last month Donald Trump told the Wall Street Journal that American companies can’t compete "because our currency is too strong. And it’s killing us...” Trump's dislike of the strong dollar doesn't surprise me. I've known a few mercantilists over the years, and all of them have always been keen on trashing their home currency, the idea being that with a weaker currency domestic manufacturers will enjoy a...

Read More »