Special Drawing Rights (SDR), also known as "paper gold", was first issued in 1969. It is a book asset allocated by the International Monetary Fund according to the shares subscribed by member countries, which can be used to repay the debts of the International Monetary Fund and make up for the balance of payments deficit among member governments. Its value is determined by a basket of reserve currencies, including USD, EUR, RMB, JPY and GBP. When a member country has a balance of payments deficit, it can exchange foreign exchange with other member countries designated by the IMF to pay the balance of payments deficit or repay IMF loans, and it can also act as an international reserve like gold and freely convertible currencies. Because it is a supplement to the original ordinary drawing rights of the International Monetary Fund, it is called special drawing rights.

Paper crude oil is a kind of personal voucher crude oil. Investors buy and sell "virtual" crude oil on the books according to the bank quotation, and individuals operate by grasping the trend of international oil prices to earn the fluctuation price difference of crude oil. Paper crude oil will be denominated in US dollars, and the investment targets are WTI crude oil futures and Brent crude oil futures market's monthly and bimonthly contracts. But like paper gold and paper silver, physical delivery is not allowed, and only cash settlement is allowed.

The content of this article comes from: China Law Publishing House "General Knowledge Series of Legal Life"