"America is in no condition to endure an economic downturn, yet a downturn is coming, almost as surely as night follows day. When the next crisis unfolds, I expect the Fed to quietly ask the Chinese central bank to revalue gold, by announcing a major gold buy program. This would allow China’s currency to become a competitor with the dollar. Equally importantly, it would allow the Fed to hide[...]
Tag: china
Where Will Gold End 2015 – $1,000, $1,325 or Maybe $2,500?
A look at the prospects for gold and silver prices in 2015 – and predictions of end year price levels for the two key precious metals. By Lawrence Williams Gold demand remains strong – notably in China and India. Well there’s nothing like being optimistic at the start of a New Year and there are certainly many factors to be optimistic about if you are a gold bull. Gold demand remains[...]
U.S. Gold Exports Jump 70% In September – US Determined to Impoverish Itself with Paper Money
According to the USGS most recent data, total U.S. gold exports increased significantly in September. Not only did U.S. gold exports surge in September, they were 70% higher than the previous month. From the SRSRocco Report: This was probably due to increased demand as the price of gold declined $80 during the month. U.S. exports started off very strong in January, reaching 80 mt (metric[...]
China To Launch Yuan Swap Trading With Russian Rubles On Monday
The world was slow to wake up to the new reality in which China is now the de facto IMF sovereign backstop, as Zero Hedge described two weeks ago in "China Prepares To Bailout Russia" when we noted that a PBOC swap-line was meant to reduce the role of the US dollar if China and Russia need to help each other overcome a liquidity squeeze, something we first noted over two months ago in "China,[...]
Just What Is China Buying?
Something strange is going on in China. On one hand, as the chart below shows, China's trade surplus is growing and growing, and just hit record highs. In other words, China is - on paper - receiving record amounts of foreign currencies in exchange for its (mostly) goods exports. That much is clear in the Chinese (record) trade balance chart below: Yet on the other hand, a chart from Deutsche [...]
IMF Now Ready To Slam The Door On The U.S. And The Dollar
Editor's Note: Owning physical precious metals and safeguarding them in a non-bank depository is best defense. By Brandon Smith As I write this, the news is saturated with stories of a hostage situation possibly involving Islamic militants in Sydney, Australia. Like many, I am concerned about the shockwave such an event will create through our sociopolitical structures. However, while most of[...]
China Prepares To Bailout Russia – East Continues to Break Away from West
Earlier this evening China's State Administration of Foreign Exchange's (SAFE) Wang Yungui noted "the impact of the Russian Ruble depreciation was unclear yet, and, as Bloomberg reported, "SAFE is closely watching Ruble's depreciation and encouraging companies to hedge Ruble risks." His comments also echoed the ongoing FX reform agenda aimed at increasing Yuan flexibility which The South China[...]
Yes, It’s Possible for a Gold-Backed Renminbi to Dethrone the Dollar
by Tim Price on December 15, 2014 [Sovereign Man Editor’s note: This letter was written by Tim Price, London-based wealth manager and editor of Price Value International.] “[W]e want to use our reserves more constructively by investing in development projects around the world rather than just reflexively buying US Treasuries. In any case, we usually lose money on Treasuries, so we need to[...]
China: Turning Away From the Dollar – Only the US Investor Remains Oblivious
By James Kynge and Josh Noble Questions remain over the global economic impact of Beijing’s efforts to reduce its financial reliance on the US When an economic theme goes global, Hollywood is never far behind. In the futuristic thriller Looper, retired hit man Bruce Willis travels back in time from the year 2074. Upon meeting his younger self, he advises him to stop learning French and[...]
This Will Dislocate Every Market In The World – David Stockman
Today David Stockman warned King World News about what he says will dislocate every market in the world, including stocks, bonds, commodities, and real estate. KWN takes Stockman’s warnings very seriously because he is the man former President Reagan called on in 1981, during that crisis, to become Director of the Office of Management and Budget and help save the United States from collapse.[...]