Economics and Investing:

IMF to make Chinese yuan reserve currency in historic move – Sent in by G.G.

o o o

Items from Mr. Econocobas:

China’s Yuan Approved by IMF for Special Basket Currencies– My question is, say the Yuan makes up 10% of the SDR, where does that 10% come from? The U.S. Dollar or who? How does that effect that currency(s) that is reduced?

Hyperinflation Watch: Kazakhstan Unveils New 20,000 Tenge Banknote

Items from Professor Preponomics:

Negative Interest Rates in Switzerland Have Economists Proposing Scary Scenarios: Should Cash Be Abolished? (Business Insider)

Trouble is Brewing in the Paper Markets for Gold and Silver (FXStreet)

It’s Getting Worse in Houston (Business Insider)

Here’s a Good Reason to Pay for Your Holiday Gifts in Cash: Sophisticated Malware Designed to Steal Your Data and Money (Market Watch)

Fed’s Tarullo to Biggest Banks: Stress Tests Likely to Get Harder (Wall Street Journal)

Why Defense Acquisition Has a Need for Speed (Heritage)

NYSE Boots National Bank of Greece (24/7WallSt)

How Hedgies Plundered Greek Banks (Contra Corner)

Greek Bank Stress Tests Leave Something to be Desired (Forbes)