SDRs - Special Drawing Rights | WHAT REALLY HAPPENED

SDRs - Special Drawing Rights

But Keynes' Bancor proposal did not only entail pegging SDR's to a basket of currencies:

He proposed a global bank, which he called the International Clearing Union. The bank would issue its own currency - the bancor - which was exchangeable with national currencies at fixed rates of exchange. The bancor would become the unit of account between nations, which means it would be used to measure a country's trade deficit or trade surplus.

http://www.globalresearch.ca/index.php?context=va&aid=12999

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA