from Antonius Aquinas:
John Connally, President Nixon’s Secretary of the Treasury, once remarked to the consternation of Europe’s financial elites over America’s inflationary monetary policy, that the dollar “is our currency, but your problem.” Times have certainly changed and it now appears that the dollar has become an American problem.
In a recent […]
by Stan Higgins, Coin Desk:
Bitcoin prices tumbled sharply this morning. According to data from CoinDesk’s Bitcoin Price Index, markets averages dropped only days after passing the $1,000 mark on 1st January. This morning’s fall came after prices reached a high of $1,153.02 in early morning trading.
Still, despite coming within reach of […]
by Wolf Richter, Wolf Street:
A “structural change”: capital flight in yuan.
The Chinese yuan fell to 6.722 to the US dollar currently, the weakest since September 2010. It’s down 3.3% so far this year. OK, a squiggle compared to the wholesale drubbing the UK pound has been taking since the Brexit vote, […]
from Rogue Money:
On Sept. 21, the internationalization of the Yuan currency just took a big leap as the Federal Reserve Board confirmed an agreement with the Bank of China to begin operations of a new RMB clearing house in the United States.
Beginning in September of 2015, the U.S. began negotiations with China […]
from Rogue Money:
On June 8, the London Stock Exchange issued the first Chinese offshore sovereign bond, setting the table for the internationalization of the Renminbi currency. This move had been months in the making when the City of London had signed an agreement to participate in Yuan denominated Chinese bonds being sold in […]
by Ken Schortgen Rogue Money:
After a subsidiary of the Chinese state purchased the J.P. Morgan HQ building directly across and connected to the New York Federal Reserve a few years ago, it was rumored that China not only held a large stake in the bank itself, but are also now a partial shareholder […]
by Valentin Katasonov, The News Doctors:
Many believe that the US dollar and the Chinese yuan could soon be engaged in a fierce battle for top honors in the world of international finance.
However, John Williams, the chairman of the Federal Reserve Bank (FRB) of San Francisco, stated on May 10 that the yuan […]
from Zero Hedge:
“Don’t listen to the ruling elite,” warns former Morgan Stanley Asian Economist, Andy Xie, “the world economy is on the cusp of a prolonged period of stagnation and instability.” Xie points out that the ruling elite is blaming it on people seeing things (skeptic and fiction peddlers), and that “their strategy […]