With the US Dollar weakening will America change to the Ruble or the Renminbi?

@Invisible Heard this joke before

@MasterLee Joke? As other countries' (China, India, Russia, Brazil, South Africa) voting rights increase, they'll soon achieve veto power in the IMF. From there, they'll be able to strong arm other nations into supporting this. Nobody wants to be tied up in US dollars anymore. China and Russia are already trading oil without USD. Why is this hard to believe?

@Invisible because it is speculation. Last joke was the dinar

@Invisible I think, IMF doesn't have much relevance now. With the formation of BRICS , for sure. Moreover, IMF policies are quite rigid.

@MasterLee Those five nations have 14.8% voting power currently and they have been gaining ground that puts them above the pace to hit the required 15% for veto power.

The global currency that will be used has already existed for a long time and is currently tied to the USD, among other currencies.

[quote]The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves.
...
The value of the SDR is based on a basket of five major currencies—the US dollar, the euro, the Chinese renminbi (RMB), the Japanese yen, and the British pound sterling.[/quote] http://www.imf.org/en/About/Factsheets/Sheets/2016/08/01/14/51/Special-Drawing-Right-SDR

If they can veto proposals in the IMF, they can refuse our proposals for central bank stimulus that we depend on. These nations have been amassing enormous amounts of gold. If a lack of stimulus crushes the paper currency economy, then they'll end up on top, and they know it.

@Invisible I debated all this before. I am to tired to do it again.

@MasterLee What's there to debate? That they won't reach 15%? Or that they won't do anything afterwards?