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Elroy Jetson

06/01/23 4:25 PM

#106266 RE: gfp927z #106265

The IMF issued $650 billion worth of SDRs on August 23, 2021. Each country received an allocation proportional to its IMF quota.

Prior allocations:

SDR 161.2 billion was allocated on August 28, 2009.

SDR 12.1 billion was allocated in yearly installments in 1979–81.

SDR 9.3 billion was allocated in yearly installments in 1970–72 - the first SDR issue.


There is no mechanism for the IMF to issue additional SDRs to only one member, rather than all.

October 2021 the G-20 nations pledged to collectively donate (recycle) $100 billion of SDR to vulnerable nations, but so far not one single SDR has been offered.

Since that date it's become clear a lot of these "vulnerable nations" owe their debts to China which has made, what I would call the G-19, uninterested in their earlier pledge seeing this is debt China will need to forgive.


As the central bank of the United States economy, the Fed is far more robust than you're imagining.

santafe2

06/01/23 4:56 PM

#106267 RE: gfp927z #106265

A bit more on commercial real estate. The 350 California building in San Francisco's financia district was appraised at $300MM in 2019. After the pandemic and work from home, the owner took it off the market in 2021 when bids peaked at $180MM. Last month they had to sell for about $60MM. We're finally getting to near the bottom of the market.

350 California

dexprs

06/02/23 7:25 AM

#106275 RE: gfp927z #106265

Just another not on cash. The Super Wealthy has one of the highest cash holding ever.