It all began in late 2015, when the IMF voted to make the Chinese yuan a reserve currency, by adding it to its basket of Special Drawing Rights (SDRs).
Now, this seismic change is official: As of September 30, 2016, the yuan was officially added to the SDR.
Years from now, we may recognize this date as "the day the dollar died" – when SDRs replaced the USD as the world's sole reserve currency.
How This "Monetary Earthquake" Will Devastate the USD
Jim Rickards believes that this is a "monetary earthquake", in part because nations no longer have to deal in dollars. Instead, they can sell their trillions of reserves and FLOOD the market with unwanted greenbacks.
Rickards adds that the IMF may expand the role of SDRs, thus making "China an integral part of the new world money order."
In other words, this new SDR is about to get stronger... and the USD is about to get MUCH weaker.
In short, a huge dollar devaluation is on the horizon.
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