Search Results for: yuan

Peak gold, amid rising demand and a declining dollar

Cash is trash

From Filip Karinja, for Birch Gold Group Conventional wisdom suggests a strong dollar is bad for the price of gold. So given the dollar’s current relative strength against other currencies, we should expect the price of gold to fall, right? Not so fast, says a new report from the World Gold Council (WGC). …

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IMF approves Chinese yuan to rival US dollar on the global stage

International Chinese yuan IMF SDR

From Filip Karinja, for Birch Gold Group As we predicted it would happen, the International Monetary Fund (IMF) made a historic decision this week in international finance by adding the Chinese yuan into its basket of currencies that make up the global exchange unit known as the SDR. Created back in 1969, the SDR (Special …

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China moves one step closer to replacing the dollar

Obama wine China

From Filip Karinja, for Birch Gold Group The rise of China on the global economic stage got another boost this week. While discussing the potential that the Chinese renminbi (also known as the yuan) will be added to the IMF’s Special Drawing Right (SDR) basket of currencies, Christine Lagarde, the chief of the …

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China’s central bank to inject $81b stimulus into top 5 banks

Chinese central bank

China‘s central bank is injecting 500 billion yuan ($81 billion) into the country’s five major state-owned banks as it moves to counter slower-than-expected growth in the world’s No. 2 economy, according to a senior Chinese banking executive. The move contributed to a rise in Asian markets early Wednesday, but falls …

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China warns Soros against ‘declaring war’ on its currency

George Soros China

China’s official newspaper warned billionaire investor George Soros not to bet against the Yuan in a front-page opinion piece, as China tries to boost confidence in its home currency, also known as the renminbi, which has dropped 5 percent since August. “Soros’s war on the renminbi and the Hong Kong …

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Putin drafts bill to dump the dollar and euro

Putin Russia

Russian President Vladimir Putin has drafted a bill that aims to eliminate the US dollar and the euro from trade between CIS countries. This means the creation of a single financial market between Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries of the former Soviet Union. “This would help …

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Russia & China sign currency swap deal worth $25 billion

Yuan China

The central banks of China and Russia have signed a 3-year ruble-yuan currency swap deal up to $25 billion, in order to boost trade using national currencies and lessen dependence on the dollar and euro. On Monday, China’s Central Bank announced the 150 billion yuan (815 billion ruble) currency swap …

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Venezuela ditches the US dollar and prices its oil in Chinese yuan

Venezuela US dollar oil price Chinese yuan

President of Venezuela, Nicolas Maduro, has made good on his promise to forsake the US dollar and publish their oil prices in yuan, which is the currency of China. This highly controversial move is likened to Venezuela giving the US “the middle finger”. Former Venezuelan leader, Hugo Chavez has threatened …

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Dollar collapse: 7 of 10 Asian countries turn to yuan

USD Dollar Yuan money

A “renminbi bloc” has been formed in East Asia, as nations in the region abandon the US dollar and peg their currency to the Chinese yuan — a major signal of China’s successful bid to internationalize its currency, a research report has said. The Peterson Institute for International Economics, or …

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Dollar no longer primary oil currency as China begins to sell oil using Yuan

oil pump man

On Sept. 11, Pastor Lindsey Williams, former minister to the global oil companies during the building of the Alaskan pipeline, announced the most significant event to affect the U.S. dollar since its inception as a currency. For the first time since the 1970’s, when Henry Kissinger forged a trade agreement with the Royal house of …

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Japan and China to start direct currency trading on Friday

Japan and China will start direct currency trading this week, Tokyo said Tuesday, the first time Beijing has let a major unit other than the dollar swap with the yuan. The move, which will scrap the greenback as an intermediary unit, comes as China introduces measures as part of a …

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China’s central bank cuts interest rates

China flag central bank PBOC

China took fresh moves to free up money for its slowing economy, after global investors expressed concerns over Beijing’s management of the world’s No. 2 economy. The country’s central bank said in a statement on Tuesday that it cut interest rates by one-quarter of a percentage point and reduced bank-reserve requirements …

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Brazil, Uruguay move away from US dollar in trade

USD dollar

Brazil and Uruguay have switched to settling bilateral trade with local currency to stimulate turnover, bypassing the US dollar. Payments in the Brazilian real and Uruguayan peso started on Monday. The agreement was signed on November 2 by the head of Brazilian Central Bank Alexandro Tombini and his Uruguayan counterpart …

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China, Russia, Norway, Brazil, Taiwan dump US treasuries

US treasuries being dumped

Five large purchasers of US Treasuries – China, Russia, Norway, Brazil, and Taiwan – have changed their minds. They’re dumping Treasuries, each for their own reasons that are now coinciding. And at the fastest rate on record. For the 12-month period ended July, sales of Treasuries by central banks around the world …

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5 trends that show China is about to redefine the gold market

China gold market

Apple spent about five years developing the iPhone, which has changed the smartphone market forever. Until the release, however, nobody could imagine what impact the iPhone would have on the market. And most consumers didn’t know about it at all. The same thing is happening with China and gold right …

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Sweden cuts rates below zero, launches QE

Sweden

Sweden has cut interest rates below zero and launched quantitative easing to fight deflation, becoming the latest Scandinavian state to join Europe’s escalating currency wars. The Riksbank caught markets by surprise, reducing the benchmark lending rate to minus 0.10pc and unveiled its first asset purchases, vowing to take further action …

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Germany joins China and Russia’s flight to gold

Gold bars

From Filip Karinja, for Birch Gold Group Germans are now rushing into gold. In search of a safe haven from a possible Greek debt default and the ultra-loose monetary policy of the European Central Bank (ECB) that makes even Ben Bernanke look fiscally conservative, Germans have significantly picked up their purchasing since …

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Trump’s impulsive rhetoric and its impact on the currency markets

Trump impact currency markets

Trump’s campaign trail was filled with nauseating rhetoric on the nations, policies and business approaches he did not look. He employed a hair raising combative approach to reign hell on those he despised, those he felt were less humans and policies he claimed meant everything wrong for the ordinary Americans. …

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