Global Currency Soon? China “Actively Communicating with IMF to Include Yuan in SDR Basket Currency”!

• Global Currency Soon? China “Actively Communicating with IMF to Include Yuan in SDR Basket Currency”! 
  by Mac Slavo, SHTFplan.com 
  It looks like things are moving a lot faster than anyone could have imagined. Last week, reports circulated that China was positioning itself to become the world’s next reserve currency, and even putting up billboards advertising the global importance of the renminbi to travelers in the Asian world.
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  Now, China is making public moves to make that a formal reality – a process that has been going on behind the scenes at least since the 2008 financial crisis. China’s leaders are reportedly in talks with the IMF about the process of drafting the renminbi into the Special Drawing Rights (SDR) basket of currencies, which include the U.S. dollar, the British pound, the Euro and the Japanese yen.
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  According to the BRICS post:
  China is pushing for the International Monetary Fund to endorse the Chinese yuan as a global reserve currency alongside the dollar and euro.
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  A senior Chinese central bank official said Thursday that the country is “actively communicating” with the IMF on the possibility of including the yuan, or RMB, in the basket of the Special Drawing Rights (SDRs).
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  Including the yuan in the SDR system would allow the IMF to recognize the ascent of the world’s second-biggest economy while aiding China’s attempts to diminish the dollar’s dominance in global trade and finance.
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  “We hope the IMF can fully take into account the progress of RMB internationalization, to include RMB into the basket underlining the SDR in foreseeable, near future,” said Yi Gang, vice governor of the People’s Bank of China.
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  The timing is no coincidence, as the International Monetary Fund (IMF) is scheduled for an end of 2015 review of its basket of currencies, a process which takes place only twice in 10 years.
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