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Tag Archives: renminbi
It’s Official: China Confirms It Has Begun Liquidating Treasuries, Warns Washington
It’s Official: China Confirms It Has Begun Liquidating Treasuries, Warns Washington On Tuesday evening, we asked what would happen if emerging markets joined China in dumping US Treasurys. For months we’ve documented the PBoC’s liquidation of its vast stack of US paper. Back in July for instance, we noted that China had dumped a record $143 billion in US […]
Malaysia Meltdown: Asian Currency Crisis 2.0 Sends Ringgit, Stocks, Bonds Crashing
Malaysia Meltdown: Asian Currency Crisis 2.0 Sends Ringgit, Stocks, Bonds Crashing When China went the “nuclear” (to quote SocGen) devaluation route earlier this week in a last ditch effort to rescue its export-driven economy from the perils of an increasingly painful dollar peg, everyone knew things were about to get a whole lot worse for […]
Global Markets Turmoil After China Extends Currency War To 2nd Day – Devalues Yuan To 4 Year Lows
Global Markets Turmoil After China Extends Currency War To 2nd Day – Devalues Yuan To 4 Year Lows Chinese stocks opened lower, extending yesterday’s losses, after The PBOC weakened its Yuan FIX dramatically for the 2nd consecutive day(from 6.1162 Monday to 6.2298 last night to 6.3306). Offshore Yuan fell another 9 handles against the USD after China […]
The Rise Of The Yuan Continues: LME To Accept Renminbi As Collateral
The Rise Of The Yuan Continues: LME To Accept Renminbi As Collateral As far-fetched as the notion may be to those who are wedded – by choice, by misguided beliefs, or by virtue of being completely beholden to the perpetuation of the status quo – to idea that the dollar will forever retain its status […]
It’s Not Just Margin Debt: Presenting The Complete Chinese Stock Market Ponzi Schematic
It’s Not Just Margin Debt: Presenting The Complete Chinese Stock Market Ponzi Schematic Late last month in “The Biggest Threat To Chinese Stocks: Shadow Lending Crackdown“, we suggested that the pressure on Chinese equities – which at that point had only begun to build – was at least partially attributable to an unwind in the […]
The PetroYuan Is Born: Gazprom Now Settling All Crude Sales To China In Renminbi
The PetroYuan Is Born: Gazprom Now Settling All Crude Sales To China In Renminbi Two topics we’ve deemed critically important to a thorough understanding of both global finance and the shifting geopolitical landscape are the death of the petrodollar and the idea of yuan hegemony. Last November, in “How The Petrodollar Quietly Died And No […]
Canada-China Ties Deepen With Renminbi Trading Hub
Canada-China Ties Deepen With Renminbi Trading Hub China’s growing global financial influence has skeptics, requires reforms to keep pace Canada and China officially opened the first North American renminbi trading hub in Toronto on Monday, March 23, amid other initiatives that are poised to give the Asian power greater financial influence internationally. These developments give […]
Yes, it’s possible for a gold-backed renminbi to dethrone the dollar
Yes, it’s possible for a gold-backed renminbi to dethrone the dollar. “[W]e want to use our reserves more constructively by investing in development projects around the world rather than just reflexively buying US Treasuries. In any case, we usually lose money on Treasuries, so we need to find ways to improve our return on investment.”– […]
China Awards $8.2 Billion RQFII Quota to Canada in Harper Visit – Bloomberg
China Awards $8.2 Billion RQFII Quota to Canada in Harper Visit – Bloomberg. China gave a 50 billion yuan ($8.2 billion) quota to Canada under the Renminbi Qualified Foreign Institutional Investor program as Prime Minister Stephen Harper visited Beijing and signed deals to boost economic ties. The two sides signed deals worth almost C$2.5 billion […]
The dollar decline continues: China begins direct convertibility to Asia’s #1 financial center
The dollar decline continues: China begins direct convertibility to Asia’s #1 financial center. This morning some of the biggest financial news of the year made huge waves all over Asia. Yet in the Western press, this hugely important information has barely even been mentioned. (CNBC.com, for example, has yet to report on this story as […]
