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by Kenneth Rogoff · 27 Feb 2025 · 330pp · 127,791 words
: When, in 2016, the IMF’s treasurer needed to acquire renminbi bonds to integrate the renminbi into the IMF’s index of core currencies (its special drawing rights, to be discussed later in chapter 17), the IMF still had to place and confirm orders by fax. A currency union without either of the
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credit risks. Unfortunately, such plans have the potential to run afoul of the same limitations we saw in the case of trying to make IMF special drawing rights into a world currency; the IMF has a different mandate than the Federal Reserve and can be expected to be much softer on its borrowers
Money in the Metaverse: Digital Assets, Online Identities, Spatial Computing and Why Virtual Worlds Mean Real Business
by David G. W. Birch and Victoria Richardson · 28 Apr 2024 · 249pp · 74,201 words
to be over 70%), diversification has not been towards the euro, sterling and yen (the other long-standing constituents of the International Monetary Fund’s special drawing rights basket). In fact, while a quarter of the shift has been towards China’s renminbi, three-quarters has been into the currencies of smaller economies
Firefighting
by Ben S. Bernanke, Timothy F. Geithner and Henry M. Paulson, Jr. · 16 Apr 2019
QE Quantitative Easing SAAR seasonally adjusted annual rate SBA 7(a) Small Business Administration 7(a) Securities Purchase Program SCAP Supervisory Capital Assessment Program SDR special drawing right SPSPAs Senior Preferred Stock Purchase Agreements TAF Term Auction Facility TAGP Transaction Account Guarantee Program TALF Term Asset-Backed Securities Loan Facility TARP Troubled Assets
What If We Get It Right?: Visions of Climate Futures
by Ayana Elizabeth Johnson · 17 Sep 2024 · 588pp · 160,825 words
they need for doing the kind of climate mitigation and adaptation work they have to do through no fault of their own, that set up special drawing rights that countries could draw on in the case of emergencies that wouldn’t land them as deeply in the debtor’s prison many of them
The Levelling: What’s Next After Globalization
by Michael O’sullivan · 28 May 2019 · 756pp · 120,818 words
emergence of the dollar as the first among currency equals. Bancor might have a use today as an idea that could permit the IMF’s Special Drawing Rights (SDR) facility—effectively a supranational currency (ironically, in today’s terms it is like a cryptocoin, with a coordinating institution)—to allow both developed and
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vs. hard power, 219–220, 223–224 Solow, Robert, 159–160 Somewhere/Anywhere theory, 79–80 Soros, George, 107 sortition, 109–110 Spanberger, Abigail, 129 Special Drawing Rights (SDR) bonds, 265–266 Spinoza, 94 St. Mary’s Church, 3, 81, 82 Stability and Growth Pact, 195 stock market. See financial markets strength of
Sacred Economics: Money, Gift, and Society in the Age of Transition
by Charles Eisenstein · 11 Jul 2011 · 448pp · 142,946 words
, it is truer still of more recent, more sophisticated backed-currency proposals, such as Bernard Lietaer’s terra currency, and recent proposals for revised IMF Special Drawing Rights, to be backed by a commodity basket reflecting overall economic activity. There is merit in this approach; indeed it is a step in the direction
The Shifts and the Shocks: What We've Learned--And Have Still to Learn--From the Financial Crisis
by Martin Wolf · 24 Nov 2015 · 524pp · 143,993 words
billion, which will become effective when participants pay for these quota increases. In addition, in 2009, the membership agreed to make a general allocation of special drawing rights (SDRs), equivalent to $250 billion, resulting in a near tenfold increase in SDRs. See International Monetary Fund, ‘IMF’s Response to the Global Economic Crisis
Money: 5,000 Years of Debt and Power
by Michel Aglietta · 23 Oct 2018 · 665pp · 146,542 words
of gold at around $35 an ounce. One last possible initiative was a radical monetary innovation at the international level. This was the invention of Special Drawing Rights (SDR). We will address SDR’s possible role at the heart of international monetary system (IMS) regulation in the last section of this chapter, which
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thus far. Finally, in the third section we will indicate paths to developing the existing international monetary institutions towards an international monetary system that promotes special drawing rights (SDR) as the ultimate reserve asset. THE IMS: FROM THE HEGEMONY OF A KEY CURRENCY TO INSTITUTIONALISED COOPERATION We know already that a system of
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is at the same time a flexible-supply fiduciary money. This money already exists potentially, even if it has been deliberately neutralised. This money is Special Drawing Rights (SDR). SDR is an allowance within a specific department of the IMF. It is not an engagement by any financial institution any more than was
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, 375t Say’s law, 27 Schacht, Dr, 312 scriptural money, 42, 47, 48, 50t, 77b, 143, 152, 156, 166, 171, 231, 246, 247, 325 SDR (Special Drawing Rights), 325, 327–8, 349, 383, 392–5 search models, 29 Second Bank of the United States, 140 second generation means of payment, 156 secular innovations
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–35, 145, 147, 148, 157, 167, 169, 187, 229, 254. See also autonomisation of political/ sovereignty; federal sovereignty; indivisible sovereignty; overlapping hierarchical sovereignty; unitary sovereignty Special Drawing Rights (SDR), 325, 327–8, 349, 383, 392–5 stabilisation, 111, 115, 135, 234, 235, 241, 268, 302–4, 326, 369, 391 Stabilisation Fund. See Exchange
Seven Crashes: The Economic Crises That Shaped Globalization
by Harold James · 15 Jan 2023 · 469pp · 137,880 words
billion of IMF funding. The summit communique included the pledge to “treble resources available to the IMF to $750 billion, to support a new SDR [Special Drawing Rights, the IMF’s currency] allocation of $250 billion, to support at least $100 billion of additional lending by the MDBs [Multilateral Development Banks], to ensure
Currency Wars: The Making of the Next Gobal Crisis
by James Rickards · 10 Nov 2011 · 381pp · 101,559 words
the dollar—call them The Four Horsemen of the Dollar Apocalypse. In order of disruptive potential from smallest to greatest, they are: multiple reserve currencies, special drawing rights, gold and chaos. Multiple Reserve Currencies A country’s reserves are something like an individual’s savings account. An individual can have current income from
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-anchor problem may be one reason why the dollar continues to dominate despite its difficulties. Special Drawing Rights Perhaps no feature of the international monetary system is more shrouded in mystery and confusion for the nonexpert than the special drawing right, or SDR. This should not be the case, because the SDR is a straightforward device
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, the SDR captures the mood of the 1985 Dire Straits hit “Money for Nothing.” Experts object to the use of the word “money” in describing special drawing rights. After all, individual citizens can’t obtain them, and if you walk into a liquor store and try paying for a few bottles of wine
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in-between, in complex systems International Emergency Economic Powers Act of 1977 (IEEPA) International Monetary Fund (IMF) Brazil and under Bretton Woods system creation of special drawing rights (SDRs) in currency wars declares end of Bretton Woods system G20 and Germany and gold accumulation from as global central bank global reserve currencies database
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Smith, Adam Smithsonian Agreement social media social psychology, on economics Soros, George South Korea sovereign debt crisis of 2010, European sovereign wealth funds (SWFs) Spain special drawing rights (SDRs) stagflation state capitalism sterling crisis of 1992 devaluations and gold exchange standard Stiglitz, Joseph stimulus, Keynesian stimulus programs, Obama’s stock market crash critical
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