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Is China Preparing A Gold-Backed Yuan: Beijing Greenlights Purchases Of Billions In Bullion
Is China Preparing A Gold-Backed Yuan: Beijing Greenlights Purchases Of Billions In Bullion In 2018, the Chinese launched a gold-backed, yuan-denominated oil futures contract. These contracts were priced in yuan, but convertible to gold, raising the prospect that “the rise of the petroyuan could be the death blow for the dollar.” Two weeks ago, The IMF reported that […]
China’s Rapidly Expanding Credit Affects Global Markets
China’s Rapidly Expanding Credit Affects Global Markets We again are seeing how rapidly expanding credit in China is spilling over into the global market. In reaction to its economy being slammed by covid-19, China like many countries has unleashed several massive stimulus programs to start things moving. Unfortunately for the Chinese people, they have also […]
China’s Central Bank Vows To Expand Total Credit By 30% Of GDP In 2020
China’s Central Bank Vows To Expand Total Credit By 30% Of GDP In 2020 One of the curiosities about the current global financial crisis is that unlike the global financial crisis of 2008 when a massive credit injection by China sparked a generous reflationary wave around the world which pulled it out of a deflationary […]
Corona Virus? The Chinese Central Bank Has a “Solution”
Corona Virus? The Chinese Central Bank Has a “Solution” In response to the economic paralysis brought about by the coronavirus, the Chinese central bank has pumped $243 billion into financial markets. On Monday February 3 2020, China’s equity market shed $393 billion of its value. Most experts are of the view that in order to counter the […]
The Pandemic Isn’t Ending, It’s Just the Beginning of Global Disorder and Depression
The Pandemic Isn’t Ending, It’s Just the Beginning of Global Disorder and Depression When you’ve been lied to, you’ve been betrayed. Betrayal has consequences. Unsurprisingly, denying the pandemic is unstoppable and consequential is the order of the day: authorities everywhere are terrified these realities might leak through all their oh-so-obviously desperate firewalls and filters. Why are […]
The Real “Helicopter Money”: Since 2009, China Has Created $21 Trillion Of New Money, More Than Double The US
The Real “Helicopter Money”: Since 2009, China Has Created $21 Trillion Of New Money, More Than Double The US Back in the days of the Fed’s QE, much of thinking analyst world (the non-thinking segment would merely accept everything that the Fed did without question, after all their livelihood depended on it), was focused on […]
Getting to a Special State of Ugly
Getting to a Special State of Ugly There are certain phrases – like “trust me” or “I got this” – that should immediately provoke one’s suspicion. When your slippery contractor tells you, “trust me, your kitchen renovation will be done before Christmas,” you should be wary. There’s no way it’ll be done until late spring. […]
Weekly Commentary: “Hot Money” Watch
Weekly Commentary: “Hot Money” Watch In the People’s Bank of China’s (PBOC) Monday daily currency value “fixing,” the yuan/renminbi was set 0.33% weaker (vs. dollar) at 6.9225. Market reaction was immediate and intense. The Chinese currency quickly traded to 7.03 and then ended Monday’s disorderly session at an 11-year low 7.0602 (largest daily decline since […]
Chinese Bank With $100 Billion In Assets Is About To Collapse
Chinese Bank With $100 Billion In Assets Is About To Collapse While the western world (and much of the eastern) has been preoccupied with predicting the consequences of Trump’s accelerating global trade/tech war and whether the Fed will launch QE before or after it sends rates back to zero, Beijing has quietly had its hands […]
Something Just Broke In China As Repo Rate Soars To 1,000% Overnight
Something Just Broke In China As Repo Rate Soars To 1,000% Overnight Ever since the unexpected failure of China’s Baoshang Bank in late May, which caused a freeze in the interbank market among smaller, less credible (and government bankstopped) banks, and which sent rates on Negotiable Certificates of Deposit (NCDs), various bank bonds and assorted report rates sharply […]
China’s Central Bank: “Everyone, Please Don’t Worry”
China’s Central Bank: “Everyone, Please Don’t Worry” Many unhappy returns. Thirty years ago, British ambassador Sir Alan Donald cabled home his classified report on the bloody goings-on in Tiananmen Square: “Students linked arms but were mown down. Armored personnel carriers then ran over the bodies time and time again to make, ‘pie’, and remains collected […]
