Month: October 2016

China moves forward with its De-Dollarization strategy

Admin
China moves forward with its De-Dollarization strategy

Submitted by Stefan Gleason via The Mises Institute, The world monetary order is changing. Slowly but steadily, global trade and currency markets are becoming less dollar-centric. Formerly marginal currencies such as the Chinese yuan now stand to become serious competitors to U.S. dollar dominance. Could gold also begin to emerge as a leading currency in world trade? Over time, it certainly could. But the more immediate implications for gold’s monetary role center on its increasing accumulation by central banks such as China’s. As of October 1st, the Chinese yuan has…

Read More

“Pounded” – How Not To Manage A Fiat Currency

Admin
“Pounded” – How Not To Manage A Fiat Currency

Submitted by Alasdair Macleod via GoldMoney.com, Make no mistake, sterling’s collapse is a very serious development, and has serious consequences for sterling interest rates. While it is becoming apparent that interest rates are going to have to rise possibly for all currencies on a one-year view, sterling’s problems are the consequence of bad judgement, and perhaps intellectual arrogance on the part of the Bank of England’s Monetary Policy Committee. The MPC in turn is not and cannot be independent from the influence of Mark Carney, the Bank’s Governor, who made…

Read More

UBS Chairman Warns Central Bank Intervention Is Forcing Investors “To Make Bad Choices With Their Money”

Admin
UBS Chairman Warns Central Bank Intervention Is Forcing Investors “To Make Bad Choices With Their Money”

With the endless jawboning from officialdom that 'everything is awesome' (or about to be) in a desperate attempt to keep the status quo fumbling along, it is once again refreshing when an ex-insider 'fesses up that, in fact, nothing is awesome and it's a total shitshow below the surface. UBS Chairman Axel Weber is a former policymaker at The ECB and was the president of Germany's Bundesbank. Speaking on the sidelines of ther annual meetings of the IMF and World Bank this weekend, CNBC reports Weber warning…that monetary intervention is…

Read More