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Will China Play The ‘Gold Card’?
Will China Play The ‘Gold Card’? Alasdair Macleod has posted an article at www.goldmoney.com which I think is important. (See “Credit deflation and gold”.www.goldmoney.com/research/analysis.) The thrust of the article is that China, at some point, will have to revalue gold in China; which means, in other words, that China will decide to devalue the Yuan […]
Desperate move by China a worrying sign: Don Pittis
Desperate move by China a worrying sign: Don Pittis Instead of boosting economy there is danger China’s sudden move will hurt confidence The father of Western medicine, Hippocrates, had some advice in 400 BC that has been passed down to today: “Extreme remedies are very appropriate for extreme diseases.” As the world responds to this week’s extreme andunexpected devaluation by the Chinese […]
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 […]
People’s Bank of China Freaks Out, Devalues Yuan by Record Amount, Vows to “Severely Punish” Capital Flight
People’s Bank of China Freaks Out, Devalues Yuan by Record Amount, Vows to “Severely Punish” Capital Flight Everything has started to go wrong in the Chinese economy despite its mind-bending growth rate of 7%. Exports plunged and imports too. Sales in the world’s largest auto market suddenly are shrinking just when overcapacity is ballooning. The […]
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 […]
Futures Soar On Hope Central Planners Are Back In Control, China Rollercoaster Ends In The Red
Futures Soar On Hope Central Planners Are Back In Control, China Rollercoaster Ends In The Red For the first half an hour after China opened, things looked bleak: after opening down 5%, the Shanghai Composite staged a quick relief rally, then tumbled again. And then, just around 10pm Eastern, we saw acoordinated central bank intervention stepping […]
Chinese Stocks Suffer Second Biggest Crash In History, 1,500 Companies Halted Limit Down
Chinese Stocks Suffer Second Biggest Crash In History, 1,500 Companies Halted Limit Down This was not supposed to happen. After pledging, investing and otherwise guaranteeing the Chinese stock market to the tune of 10% of GDP, and intervening on at least 40 different occasions in the past month ever since China’s stock bubble burst in late […]
Deflation Is Winning – Beware!
Deflation Is Winning – Beware! Expect the ride to get even rougher Deflation is back on the front burner and it’s going to destroy all of the careful central planning and related market manipulation of the past 6 years. Clear signs from the periphery indicate that a destructive deflationary pulse has been unleashed. Tanking commodity […]
“Critical” Debt “Domino Chain” Threatens To Destabilize China’s Financial System, SocGen Says
“Critical” Debt “Domino Chain” Threatens To Destabilize China’s Financial System, SocGen Says Since the beginning of March when we first explained why QE (or at least some manner of “unconventional” monetary policy) may be inevitable in China, we’ve tracked developments around the country’s local government debt refi effort closely. For those in need of a […]
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 […]
China Nears Global Reserve Status: “There Will Be a Reset of the Financial Industry”
China Nears Global Reserve Status: “There Will Be a Reset of the Financial Industry” The world is anticipating a new global reality with huge implications: China’s yuan is poised to get recognized as a global reserve currency. In a sign of the times, the IMF has essentially rebuffed U.S. claims of currency manipulation, to instead […]
China Targets Dollar, Washington Has Conniptions
China Targets Dollar, Washington Has Conniptions Now even Israel – joined at the hip to the US though the relationship has run into rough waters – has applied to become a founding member of the China-led Asian Infrastructure Investment Bank. Despite US gyrations to keep them from it, over 40 countries, including bosom buddies Australia, […]
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 […]
Why The Dollar Is Rising As The Global Monetary Bubble Craters
Why The Dollar Is Rising As The Global Monetary Bubble Craters Contra Corner is not about investment advice, but its unstinting critique of the current malignant monetary regime does not merely imply that the Wall Street casino is a dangerous place for your money. No, it screams get out of harms’ way. Now! Yet I am […]
