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Anonymous
Special Drawing Rights (SDRs) 2017-02-12 08:00:39 Post No. 1794192
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Special Drawing Rights (SDRs) 2017-02-12 08:00:39 Post No. 1794192
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"Special Drawing Rights (ISO 4217 currency code XDR,[1] also abbreviated SDR) are supplementary foreign-exchange reserve assets defined and maintained by the International Monetary Fund (IMF)."
I met a girl over the weekend that talked to me about using them to finance the fight against climate change (https://www.ted.com/talks/michael_metcalfe_a_provocative_way_to_finance_the_fight_against_climate_change?language=en) and they were recently issued as bonds in China by the World Bank (http://seekingalpha.com/article/3999803-chinas-sdr-bond-issue-really-means).
The green fund idea got shut down in 2010 (http://www.reuters.com/article/imf-climate-idUSN2414340820100325), but she seems really adamant on the idea.
Can someone explain these to me and tell me if they're going anywhere in the next 10-15 years? I've heard of them as the currency issued by the IMF, but what does stuff like the China bond issuance mean and is there anything I can talk to her about regarding them when we see each other again today?
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>>1794192
Please tell me that you're just shit posting and that you're not actually this much of a dumb ass cuck
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>>1794198
She's part of some environmental group on my campus and I talked to her at the end of our Econ lecture.
I don't even believe in climate change; I just want to act like i know something about these things besides a vague definition.
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>>1794200
Ask /sci/.
Make sure you make a new thread specifically about climate change.
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>>1794209
I'm not asking for a thread about climate change, I'm asking about SDRs.
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>>1794222
SDRs are the pseudo-currency used by the IMF to supplement gold, US Dollars, and other universally accepted stores of value during periods of high demand.
If the IMF wanted to become a global central bank, they could start printing SDRs regularly. People have been suggesting they do that for 50 years to no avail.
Presumably you could use that global central bank status to give cheap money to green causes. Unlikely to ever happen.
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>>1794192
Well SDRs are not a currency, its value is tied to a basket of currencies. Its more like a bond. I don't see them going anywhere and I don't see how as a financial instrument they help global warming.
I would buy corporate bonds from solar companies if I gave a shit about global warming.
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>>1794266
>>1794320
Apparently during the Great Recession, the IMF issued these and there's a lot of them lying around and Soros and I think Dominique Strauss Kahn proposed using the leftovers to fund green initiatives (https://www.devex.com/news/soros-suggests-using-imf-sdr-to-fund-climate-fight-63295).
In general, is there a chance that these could replace the US dollar? What does the initiative to release them as a bond in China mean?
I'm not asking for their applications in regards to climate change, I was just curious about information regarding them in general and what kinds of other applications they have today and what potential applications lie ahead.
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>>1794192
OP self bump
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