By F. William Engdahl Russia is about to take another major step towards liberating the Ruble from the Dollar System. Its Finance Ministry just revealed it is considering issuing Russian state debt in Chinese Yuan. That would be an elegant way to decouple from the dependence and blackmail pressures from the US Treasury financial terrorism operations … Continue reading
By Xiao Xun China’s currency is no longer undervalued given its recent appreciation, but the government should pick up the pace in loosening controls on the exchange rate, the International Monetary Fund said. Economists critical of the IMF’s assessment said it did not reflect the real value of the Chinese yuan, and that the IMF was … Continue reading
China can ultimately overthrow the global domination of the U.S. dollar by using its 30,000 tons of gold reserves, according to Chinese economist Jin Zihou. Citing former U.S. Federal Reserve Chair Alan Greenspan, Chinese economic observer Jin Zihou suggested that the Chinese renminbi would be able to deal a lethal blow to today’s financial system should Beijing convert … Continue reading
Around $1 trillion in global currency reserves will switch into Chinese assets should the International Monetary Fund (IMF) endorse the yuan as a reserve currency and include it in its Special Drawing Rights (SDR) basket this year, according to Standard Chartered, Bloomberg reports. “SDR inclusion in 2015 would likely have a significant market impact, driving an immediate sharp … Continue reading
By John Browne Over the past few decades while the economic power of the Chinese has grown exponentially, many observers have been surprised by the relative willingness of China to operate within the financial and economic framework established by the dominant Western order. But it should now be blatantly clear that Beijing prefers to act … Continue reading
By Koos Jansen, BullionStar Things are heating up in the Chinese gold market. First let’s go through the latest Shanghai Gold Exchange data and then we’ll continue to discuss the most recent developments regarding Chinese official gold reserves. Friday the Shanghai Gold Exchange (SGE) released its trade report of week 11, 2015 (March 16 – 20). Withdrawals … Continue reading
Chinese Premier Li Keqiang asked the International Monetary Fund’s (IMF) Managing Director Christine Lagarde on Monday to include China’s yuan in its Special Drawing Rights (SDR) basket, China’s state-run Xinhua news agency reports. According to the report, Premier Li told Lagarde that China would “speed up the basic convertibility of yuan on the capital account and provide more facility for domestic … Continue reading
International Monetary Fund (IMF) Managing Director Christine Lagarde said on Sunday that the Chinese yuan “clearly belongs” in the Special Drawing Rights (SDR) basket and that the IMF would work with China to that end, Bloomberg reports. “Timing is something that we will be discussing amongst ourselves but I think we welcome this introduction,” Lagarde said. … Continue reading
By Koos Jansen, BullionStar Possibly China’s national currency will be part of the IMF’s Special Drawing Rights (SDR) this year. If so, this would have substantial implications for the international monetary system. Currently the SDR, which was invented in 1969 right after the London Gold Pool collapsed, consists of US dollars (41.9 %), Euros (37.4 %), Pound … Continue reading