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China Has Quietly Implemented A 6% Across The Board ‘Tariff’ On All US Imports
China Has Quietly Implemented A 6% Across The Board ‘Tariff’ On All US Imports Trump and Xi have spent much of the last few weeks tossing tariff grenades across the Pacific Ocean as retaliatory retaliations grow ever stronger in rhetoric and potential escalations. Then this week, Trump seemed to back away from his most serious […]
China Cuts Reserve Ratio, Unlocks 700BN Yuan Amid Rising Trade War, Mass Defaults And Margin Calls
China Cuts Reserve Ratio, Unlocks 700BN Yuan Amid Rising Trade War, Mass Defaults And Margin Calls As widely expected, China’s central bank announced it would cut the Required Reserve Ratio (RRR) for some banks by 0.5% effective July 5, just over two months after the PBOC did a similar cut on April 17, the first […]
Trade End Game Scenarios: Boycott Treasuries vs Yuan Devaluation
Trade End Game Scenarios: Boycott Treasuries vs Yuan Devaluation Since there is no longer any reasonable debate about a trade war having started, let’s investigate how it ends. End Game Analysis The end-game retaliation comes via a global boycott of the Treasury auctions. Foreign entities fund half the US fiscal deficit, which is set to […]
De-Dollarization Escalates: “African Economy Needs More Usage Of Chinese Yuan”
De-Dollarization Escalates: “African Economy Needs More Usage Of Chinese Yuan” The world’s push towards de-dollarization continues to accelerate as Americans go about their daily lives worrying more about blasphemous comedians, participation trophies, and Kim and Kanye’s traitorous behavior. From yuan-denominated oil futures (and soon to be yuan-denominated metals contracts) to Europe’s decision to use Yuan […]
China Eyes Yuan Devaluation in Trade Dispute
China Eyes Yuan Devaluation in Trade Dispute Finally, we have a story that makes retaliatory sense vs. the widely believed “nuclear” treasury dumping theory. The widely-circulated “nuclear” theory suggests China would dump US treasuries in a trade war with the US. That theory never made any sense. Such a move would tend to strengthen the […]
In Unprecedented Move, China Plans To Pay For Oil Imports With Yuan Instead Of Dollars
In Unprecedented Move, China Plans To Pay For Oil Imports With Yuan Instead Of Dollars Just days after Beijing officially launched Yuan-denominated crude oil futures (with a bang, as shown in the chart below, surpassing Brent trading volume) which are expected to quickly become the third global price benchmark along Brent and WTI, China took […]
PetroYuan Futures Open – Over 10 BillIon Notional Trades In First Hour
PetroYuan Futures Open – Over 10 BillIon Notional Trades In First Hour After all the preparation, all the expectation, cheerleading and doomsaying, China’s Yuan-denominated crude oil futures contract began trading tonight and appears to be off a good start with well over 10 billion yuan notional traded within the first hour. So far it has […]
Financial Markets Definitely Destabilizing – Charles Hugh Smith
Financial Markets Definitely Destabilizing – Charles Hugh Smith Financial writer and book author Charles Hugh Smith has been watching the extreme movements in financial markets closely. Is he nervous? Smith says, “Oh yeah, it’s definitely destabilizing. In other words, it’s becoming not just more volatile, the whole underlying structure of our economy is destabilizing. What […]
Central Bank Reserves – The Rise of the Yuan
Central Bank Reserves – The Rise of the Yuan QUESTION: Mr. Armstrong; I understand that your model shows that China will become the dominant economy post-2032. The IMF added the yuan to their SDR basket. Are central banks starting to use the yuan in reserves in a major way yet? KD ANSWER: Yes. The ECB […]
As Petro-Yuan Looms, Bundesbank Adds Renminbi To Currency Reserves
As Petro-Yuan Looms, Bundesbank Adds Renminbi To Currency Reserves Just days after China’s (denied) threat to slow/stop buying US Treasuries, and just days before the launch of China’s petro-yuan futures contract, Germany’s central bank confirmed it would include China’s Renminbi in its reserves. The FT reports that Andreas Dombret, a member of Deutsche Bundesbank’s executive […]
Will the Dollar Survive the Rise of the Yuan and the End of the Petrodollar?
Will the Dollar Survive the Rise of the Yuan and the End of the Petrodollar? This might seem a frivolous question, while the dollar still retains its might, and is universally accepted in preference to other, less stable fiat currencies. However, it is becoming clear, at least to independent monetary observers, that in 2018 the […]
Pakistan Plans Replacing Dollar With Yuan In Trade With China
Pakistan Plans Replacing Dollar With Yuan In Trade With China Pakistan is considering replacing the U.S. dollar with the Chinese yuan for bilateral trade between Pakistan and China, Pakistan’s Minister for Planning and Development Ahsan Iqbal said according to Dawn Online and The Economic Times. Interior Minister Iqbal, who has been central to the planning […]
China Takes Aim At The Petrodollar
China Takes Aim At The Petrodollar China continues to pursue its ambitious plan to make its currency—the yuan—more international. The world’s top crude oil importer and key oil demand growth driver is now determined to get as many oil exporters as possible on board with accepting yuan payments for their oil. China is now trying […]
Maduro Visits Putin, Proposes Global Oil Trade In Rubles, Yuan
Maduro Visits Putin, Proposes Global Oil Trade In Rubles, Yuan Three weeks after the US imposed financial sanctions on Venezuela in an effort to cripple its economy and choke the Maduro regime, which in turn prompted Caracas to announce it would no longer receive or send payments in dollars, and that those who wished to […]
Oil Analysts Baffled As Venezuela Ditches Petrodollar
Oil Analysts Baffled As Venezuela Ditches Petrodollar At the end of August, the U.S. stepped up sanctions on Venezuela, prohibiting dealings in new debt or equity issued by state oil firm Petroleos de Venezuela SA (PDVSA) or the government. A couple of weeks later Venezuela responded to what it called an “economic blockade” by suspending […]
