With some effort, it is possible to discern the outline of a future “renminbi zone” emerging as a rival to the “dollar zone” that has dominated the world’s financial system since the end of the second world war.
Though still indistinct, the contours of this new currency contingency are nowhere clearer than among the Brics
China’s renminbi is gaining traction as a global currency, which will pave the way for a multiple global reserve currency system. Discussed here by John Zhu, economist, Greater China, HSBC
The US dollar’s dominance in the global financial system remains. But, looked at in another way, the dollar
A few years ago, the definition of “strong banking” was Switzerland; today, however, Switzerland’s reputation for banking is nowhere near where it once was.But eager to restore some of its former banking luster, Switzerland has taken note of this and is rapidly positioning itself to become a major center of European RMB trade. Continuing to believe
Iran, Russia and China are propping up Syria’s war-ravaged economy, with President Bashar al-Assad’s regime doing all its business in rials, roubles and renminbi as it seeks to beat western sanctions, according to the country’s senior economics minister.
Read more: http://www.ft.com/intl/cms/s/0/79eca81c-df48-11e2-a9f4-00144feab7de.html#axzz2XPvpa7ho
A “renminbi bloc” has been formed in East Asia, as nations in the region abandon the US dollarand peg their currency to the Chinese yuan — a major signal of China’s successful bid tointernationalize its currency, a research report has said.
The Peterson Institute for International Economics, or PIIE, said in its latest research that
Lindsey Williams on Radio Liberty 10-06-12 – Impending Financial Collapse here are some key point : the most significant day in the history of the American dollar since its inception was Thursday September the 6th during the democratic convention that was the day when China announced that any country in the world that wishes to can
Comments on this starts at about 9:00
Quote from article: “… China is actively taking steps to phase out the US dollar which will decrease volatility in oil and commodity prices and deride the ‘exorbitant privilege’ the USA commands as the issuer of the reserve currency at the centre of a post-war international financial
Most Americans have no idea what a tremendous advantage the United States possesses by having the primary reserve currency of the world, and most Americans also have no idea how close the U.S. dollar is to losing that status. For the past 40 years, the vast majority of all global trade (including
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