China Is Running Out Of Money. Why has the economy so far failed to respond? There are various reasons, but perhaps the most important is that the country is running out of money for stimulus.
At first glance, that proposition seems preposterous. After all, the People’s Bank of China, the central bank, held
When the US Dollar is ultimately dethroned as the world’s reserve currency (and finally gets rid of all those ridiculous three letter post-Keynesian economic “theories”) nobody will have seen it coming. Well, nobody except for the following headlines: ““World’s Second (China) And Third Largest (Japan) Economies To Bypass Dollar, Engage In Direct Currency Trade“, “China,
by Charles Hugh Smith
The We-Fixed-Nothing Chickens Are Coming Home to Roost (June 4, 2012) When the real problems are masked with fake “solutions,” the chickens eventually come home to roost, and we wake up to the reality that the fake “solutions” have only made things much worse.
The reality that the global Status Quo has
LONDON (Dow Jones)–Citigroup (C) said Wednesday that it is launching yuan-denominated bank accounts in the U.K., providing further evidence that banks are stepping up their efforts to help London gain traction as a key offshore yuan-trading center.
Citigroup said its new product offering will make it possible for clients to make and collect payments in
If China Backs Its Currency with Gold, It Could Have Profound Effects for Investors … and Consumers
Larry Edelson – – writes today:
I know for a fact that Beijing wants its yuan to eventually become a gold-backed currency, much like the Swiss franc was originally. Backing the yuan with some gold will certainly
On Saturday April 14 the People’s Bank of China expanded the range that it would allow the renminbi to rise or fall each day. Previously the currency was only allowed to rise or fall by 0.5% from a determined midpoint, but now that limit is being increased to 1%. Many have long felt that
Robert Zoellick said the World Bank would support a Brics bank, an idea formally proposed at a summit in New Delhi last week. The World Bank has previously backed the creation of the Islamic Development Bank and the Opec Fund to build financing and analytical capabilities.
If Brics nations “decide they want another financing
6 MARCH 2012
Greg Hunter’s USAWatchdog.Com
Buying gasoline these days has turned into a horror show. I filled up my car and handed the attendant a $50 bill to turn the pump on. I had a little more than a quarter of a tank. So, I thought that would do the trick and peg the needle
March 25, 2012, at 11:23 pm
by Jim Sinclair in the category General Editorial
Brazil, Russia, India China and South Africa are meeting next week because of the use of SWIFT as a weapon of war. Expect the formation of a competitive SWIFT system in three blocks. The dollar will test .7200 USDX and fail on
Submitted by cpowell on Sun, 2012-03-25 15:30. Section: Daily Dispatches
By Thandeka Gqubule and Andile Ntingi City Press, Johannesburg, South Africa Sunday, March 25, 2012
South Africa this week will take some initial steps to unseat the US dollar as the preferred worldwide currency for trade and investment in emerging economies.
Thus the nation is expected
The release of February’s economic data confirmed that Chinese growth is slowing down. Consumer inflation fell to 3.2 per cent last month, the lowest since June 2010. Weaker industrial production, retail sales and export data all support the same pattern. China’s days of double digit growth are, at least for this century, probably
by Mao Money, Mao Problems
The Exter Pyramid and the Renminbi
The pyramid is the strongest structure known to Man. The weakest structure is the inverted pyramid. There is an economic theory called the Exter Pyramid to describe the financial system. It is an inverted pyramid ranking assets by risk. Gold, the safest asset, holds its
The UK Treasury has announced plans to make London the leading international centre for trading China’s currency, the yuan, also known as the renminbi.
“London is perfectly placed to act as a gateway for Asian banking and investment in Europe,” said UK Chancellor George Osborne.
Bankers say the plans could bring billions of pounds into
By David Callaway, MarketWatch
SAN FRANCISCO — At a meeting in London last month I listened with mild amusement as a senior sales executive discussed the rollout of a banking campaign to promote the rise of China’s renminbi as a global currency.
U.S. $100 notes stacked at the headquarters of the Korea Exchange
Dec. 28, 2011, 3:53 p.m. EST Look for 2012 to be the year of the dollar Commentary: Currency wars favor the greenback By David Callaway, MarketWatch
SAN FRANCISCO (MarketWatch) — At a meeting in London last month I listened with mild amusement as a senior sales executive discussed the rollout of a banking campaign to
I aim to own a healthy position in gold by 2016. The burning question: Is now a good time to buy in?
So far in my admittedly amateurish thinking, the answer is: not yet.
1) I don’t want to bet against a global financial crash in the next 24-36 months now that the
Cap in hand to the Chinese, it really doesn’t get any worse than this. And what this article doesn’t mention, but is reported in the FT, is that China is trying to tie the cash to a gagging clause which would prevent EU leaders from criticizing Chinese currency policy (notably the undervaluing of the renminbi
The World’s Very First RMB Gold Contract
For the first time ever, China is offering convertibility between gold and their own currency, the Renminbi. To understand the symbolic importance of this, let’s first give a bit of background and context.
Gold, as with most other commodities, is commonly priced around the world in US dollars