Westerners Should "Be Very Afraid" of Friday's Chinese Yuan-IMF Decision

China's yuan was just awarded reserve currency status. This was the precise event former Wall Street banker Evander Smart warned of in September: "If you live in the West, and this goes down, be afraid, be very afraid," Smart wrote in an op-ed for "future of money" site Coin Telegraph on Sept. 10. "The world is starting to prepare for life without the dollar and westerners should, too!" Inclusion into the IMF's $280 billion basket of currency reserves alongside the U.S. dollar, the Japanese yen, the British pound, and the euro, becomes official on Nov. 30. As an SDR world reserve currency, the Chinese yuan is now legitimized as a serious competitor to the U.S. dollar. Here's what you need to know about the Chinese yuan-IMF decision ... Tags: china yuan , China yuan IMF , Chinese Yuan , Chinese Yuan IMF , U.S. Dollar , U.S. dollar reserve currency , US currency under attack , US dollar under attack , world yuan reserve currency , yuan reserve currency status , yuan world reserve currency To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2015 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post Westerners Should "Be Very Afraid" of Friday's Chinese Yuan-IMF Decision appeared first on Money Morning - We Make Investing Profitable .