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China Completes SWIFT Alternative, May Launch “De-Dollarization Axis” As Soon As September

March 10, 2015

China Completes SWIFT Alternative, May Launch “De-Dollarization Axis” As Soon As September One of the recurring threats used by the western nations in their cold (and increasingly more hot) war with Russia, is that Putin’s regime may be locked out of all international monetary transactions when Moscow is disconnected from the EU-based global currency messaging […]

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Will China’s Currency Peg Be the Next to Fall?

February 13, 2015

Will China’s Currency Peg Be the Next to Fall? I suspect China’s leadership is wary of unpegging the RMB for one reason: the FX market is too large to manipulate for long. What is China’s currency the renminbi (RMB, a.k.a. yuan) really worth? Nobody knows, because price discovery has been thwarted by the RMB’s peg to the […]

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As China’s Offshore Yuan Crashes To A 2 Year Low, Beijing Warns Its Citizens: “Don’t Buy Dollars”

January 30, 2015

As China’s Offshore Yuan Crashes To A 2 Year Low, Beijing Warns Its Citizens: “Don’t Buy Dollars” We won’t go into the specific details of China’s burst housing bubble, the shady underworld of itspyramid scheme wealth-management products, the fact that any hard asset in China is rehypothecated literally a countless number of times, the nuances of its deflating shadow […]

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China Switches to Supporting Yuan as Outflows Mount: Currencies

January 26, 2015

China Switches to Supporting Yuan as Outflows Mount: Currencies Managing the yuan is turning into a different game for China’s policy makers these days. After more than a decade of curbing the currency’s gains to help turn the nation into a manufacturing colossus, there are signs the People’s Bank of China is now propping up the yuan to […]

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China proposes broadening use of Yuan for trade with Russia: report | Reuters

December 21, 2014

China proposes broadening use of Yuan for trade with Russia: report | Reuters. (Reuters) – China’s trade minister proposed more use of China’s currency in settling trade with Russia in the face of a falling rouble to ensure safe and reliable trade, Hong Kong broadcaster Phoenix TV reported on Saturday. The rouble has fallen about 45 percent […]

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Yuan Strength Seen as Message to Obama as Talks Loom: Currencies – Bloomberg

November 11, 2014

Yuan Strength Seen as Message to Obama as Talks Loom: Currencies – Bloomberg. China is using the yuan to make the case that it’s a responsible economic powerhouse before President Xi Jinping meets Barack Obama in Beijing tomorrow. The People’s Bank of China yesterday raised its yuan reference rate by the most since 2010. In doing so, strategists say it’s distancing itself […]

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