here is link to usps website explaining SDR
Have we, the people, considered what the consequences to our economy will be if we are no longer able to print money to pay our debts but instead have to buy the accepted world currency? Let's add $1.2 trillion in health care costs to our debt. Let's keep spending. That ought to take care of it. Wake up, America.
Here is yesterdays Reuters article summarizes the agenda for next month G-20 meeting in London where Russia as third largest reserve currency holder still chanting the need for Global single currency.
as per Reuters
China and Russia -- which hold, respectively, the worlds first and third biggest reserves -- have suggested that a new global currency could be based on the International Monetary Fund's Special Drawing Rights (SDRs).
IMF officials have said that in theory such a move could be possible, but it would take a long time. The SDRs are the IMF's unit of account, their value is based on a basket of currencies including the dollar, Japanese yen, British pound and euro.
Major emerging market economies, such as Russia, would like to see the SDR basket widened to include their national currencies and possibly other assets such as gold.
