SC, The Chinese yuan will be made part of the IMF's SDR currency basket in September. They announced it last year to give central banks plenty of time to re-jigger their currency reserves, so there wouldn't be a shock to the dollar and the other currencies in the basket.
This is a key step in getting China fully hooked into the world's financial system so when the time comes to transition from the dollar reserve system to the SDRs, China will be on board.
Jim Rickards said that in 2010, in the aftermath of the financial crisis, the Fed/banking cabal came up with a 10 year plan to transition to the SDRs. They could see the end was in sight for the dollar reserve system so they put together a 10 year transition plan to be accomplished in stages. The inclusion of the Chinese yuan is one of the most crucial of these stages since it will keep China in the fold when the transition occurs, and with China onboard the rest of the BRICS will follow.
The transition to the SDRs could not proceed until the yuan was in the SDR basket, so after September will be the time to start worrying. Most likely they want to transition preemptively, before a black swan event comes out of the blue and things spin out of control. So presumably they'll create a crisis atmosphere for the US dollar and at the height of the crisis announce the SDRs.
(cont)
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