tag:blogger.com,1999:blog-6704573462403312459.post8983958313736733881..comments2024-03-29T02:53:03.321-04:00Comments on Moneyness: IMF SDRs: the world's largest LETSJP Koninghttp://www.blogger.com/profile/02559687323828006535noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6704573462403312459.post-81138166829764077942013-05-12T16:58:45.309-04:002013-05-12T16:58:45.309-04:00Leave comments here and I'll respond.Leave comments <a href="http://jpkoning.blogspot.ca/2013/01/bitcoin-is-amoeba-central-banks-are.html" rel="nofollow">here</a> and I'll respond.JP Koninghttps://www.blogger.com/profile/02559687323828006535noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-32679646697710986512013-05-12T14:05:17.442-04:002013-05-12T14:05:17.442-04:00JP, do you mind an off topic question? I'm rea...JP, do you mind an off topic question? I'm reading old posts about "hot potato" money but I really don't get how money reflux to a modern independent central bank? Not sure if you would notice a comment on a really old post so that's why I wrote it here. Thanks for a great blog.Dan https://www.blogger.com/profile/14228383423254118263noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-34895189498527027732013-05-11T18:58:13.799-04:002013-05-11T18:58:13.799-04:00From what I've read, the US has a far more nua...From what I've read, the US has a far more nuanced relationship to SDRs/IMF than most nations. You're right that the US has a huge influence over the IMF, therefore it has an incentive to be an SDR accumulator in order to preserve the integrity of the system. At the same time, a large contingent of US voters who are skeptical of "IMF world government" which you'd assume would militate against the US having a large stash of SDRs. <br /><br />As for mechanics of SDR trading, the Ukrainian government probably owns Ukraine's gas infrastructure. Perhaps it transferred SDRs directly to the Russian government to pay for natural gas, assuming the seller was a government owned gas company. Or it could have sold its SDRs to a third party (either the IMF or some other government) in exchange for dollars, then paid the Russian seller. I don't know the details.JP Koninghttps://www.blogger.com/profile/02559687323828006535noreply@blogger.comtag:blogger.com,1999:blog-6704573462403312459.post-83646459662738827872013-05-11T14:45:15.749-04:002013-05-11T14:45:15.749-04:00I find it fascinating that a deficit nation like t...I find it fascinating that a deficit nation like the US is above its allocation. Do you think this is largely the result of political posturing as the US is interested in maintaing the value of the SDR, as the IMF is doing, because of its influence over the IMF?<br /><br />I'm also very interested in the mechanics involved with this. Since individuals don't hold SDRs, who is spending them? When you say Ukraine spent a large amount of its SDR allocation in order to purchase natural gas, who was purchasing?<br /><br />I'm guessing this last question is just a general international trade query (the mechanics of which I always need to brush up on from time to time) and are not special to the SDR.John Hawkinsnoreply@blogger.com