The Israel Deception

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Showing posts with label rmb. Show all posts
Showing posts with label rmb. Show all posts

Tuesday, March 14, 2017

As China accumulates gold for RMB internationalization, estimates have their holdings at nearly 20,000 tons

One of the more difficult things financial analysts have had to do is to try to piece together just how much gold China has accumulated over the past 10-20 years.  For some analysts like Dr. Jim Willie, the estimates range between 25,000 and 40,000 due to market insiders who provided him information that China had been buying at least 1,000 tons of gold per month for more than a year and a half.

Additionally, China has become the world's largest gold producer and per state policy, does not export any of its metals to foreign markets.  Meaning that they produce between 276 tons (2006) and 450 tons (2014) per year, every year.

And lastly of course is the fact that China does not have the same type of storage and documentation procedures as the Western markets do, meaning that while they occasionally report gold holdings attributed directly to the Peoples Bank of China (PBOC), they do not report any holdings or distributions among the vast myriad of other banks that function under the umbrella of state control.

Thus in the end it is nary impossible to know exactly how much gold China owns and controls.  But one analyst believes that through his research he can get within the ballpark of their holdings, and why China has been purposefully accumulating gold in such quantities.

China, it seems, wants to make the rules in the international monetary system, which is why it has been acquiring vast amounts of gold both through private and official channels. 
Because of the obscure nature of the Chinese gold market and the reluctance of Chinese officials to show their hand, nobody has been able to accurately calculate how much gold the Chinese have amassed since about 2000, when they began amassing it. 
Enter Koos Jansen, an analyst with Singapore bullion dealer Bullion Star. He has studied the Chinese gold market for years and recently came up with an estimate of total Chinese gold holdings: 19,500 metric tons, or 21,495 U.S. tons, at the end of January 2017. 
“They have promoted gold ownership as a store of value since at least 2002, but more so when they introduced the ‘storing gold with the people’ concept in 2004,” says Jansen, a campaign encouraging private citizens to buy gold. - Epoch Times
And the purpose behind China's ongoing 15 year plan for gold accumulation...
According to Jansen’s contacts at Chinese banks, official holdings are closer to 4,000 tons rather than the published figure of 1839 tons. What does China need that gold for? 
“They buy official gold to internationalize the Renminbi. If there are enough reserves behind it, they can make it a credible currency.” He who has the gold makes the rules. 
That’s also why China doesn’t allow even one ounce of gold and silver to leave its shores once it enters. “The West has been selling gold into a black hole,” says Jansen.

Sunday, March 5, 2017

RMB internationalization could soon get major boost as desperate EU looks to bail out financial system with Yuan bonds

After a modicum of success in expanding the RMB's use outside of China when their currency became accepted into the IMF's SDR basket of currencies last year, the Yuan has since seen a slowdown for internationalization due in part from capital controls they instituted to try to restrict a growing occurrence of capital flight.  But in an interview given on March 5 by the head of the European Stability Mechanism (ESM), that may soon be changing as the financial body responsible for protecting the stability of the Eurozone suggested that the next round of 'Quantitative Easing' may involve bonds denominated in Yuan as the foundation for bailing out banks and other financial institutions.

The head of the organization charged with safeguarding financial stability in the eurozone said he does not rule out issuing Chinese yuan-denominated bonds to fund the rescue of European nations and institutions. 
"[Issuing European Stability Mechanism bonds in yuan] is possible," Klaus Regling, managing director of the ESM, said in a recent interview with the Nikkei Asian Review. He said the institution was preparing to issue dollar-denominated bonds in the fourth quarter of this year -- the ESM's first non-euro bond issuance -- but added that other currencies remained an option. 
"We are legally allowed to issue in all currencies," he said. "As a young institution, it is a big step to do our first non-euro issue ... and it seems to make sense from the market side to start with the U.S. dollar. But it is entirely possible that we move into other currencies that are attractive from the market side." - Asia.Nikkei
The European Stability Mechanism (ESM) is Europe's equivalent of the U.S.'s Exchange Stabilization Fund (ESF) in that it acts as a neutral party, able to step in and fill any monetary needs for the financial system.

If the EU is now looking towards the Chinese Yuan as a much better asset and currency to sell to fund and bailout European financial institutions in the future, then this will go an extraordinarily long way in fulfilling China's goal of internationalizing the Yuan, and moving it towards becoming an equal shareholder with the dollar as one of the world's primary reserve currencies.

Monday, January 16, 2017

World Gold Council official sees Chinese investment in metal soaring from depositors who have ¥22 trillion to spend

One of the primary reasons that Bitcoin saw a roller coaster ride over the past month was in large part due to Chinese depositors and investors using the crypto-currency as a mechanism to divest some of their Yuan denominated holdings to exchange them for assets in other currencies.  But even as the Chinese government starts to crack down on Bitcoin exchanges, a representative for China at the World Gold Council believes that this money could eventually funnel its way into physical gold.

The Chinese Have A Jaw-Dropping $22 Trillion In Bank Deposits – What This Means For Gold & China Bears

Chinese depositors have an estimated ¥22 trillion in cash held inside banks, and are looking for avenues to both invest and exchange out of in light of capital controls meant to keep the currency from offshore capital flight.  And with the Shanghai Gold Exchange emerging last year as the world's largest physical gold market, acquisition of gold by the Chinese people is not a very difficult concept to fathom at all.

It’s inevitable that fairly soon - possibly even by the end of the year - the renminbi will be a floating currency. Moreover, either on its own or as part of a basket of currencies, a floating renminbi will be at least partially backed by gold. In other words, China is on an inexorable course to exert an economic stranglehold on the East. The world will then likely have two reserve currencies, one for the East and one for the West. - Stephen Leeb via King World News

Monday, January 2, 2017

China progressing into 2017 to dominate the Bitcoin and gold markets

On Jan. 2, Bitcoin crossed over $1000 as the Chinese continue to rush into the crypto-currency as a means of bypassing capital controls on currency leaving the country.  And in an interesting and growing trend emerging from the second largest economy in the world, a new web bot forecast has the Chinese government actually capitulating to the power of Bitcoin and promoting its use within their borders, and along the newly emerging Silk Road.

Cliff High (Web bots): The new prediction sets we have are showing us swapping over to RMB as China takes over the emotional control if you will of the Bitcoin world, and alot of their rushing into that is fear of the currencies. 
Greg Hunter (USA Watchdog): They are fearful of the U.S. dollar? 
CH: Nope, the Chinese people... the China Pop (population)... and the China Pop is going to get really freaked out about the value of their own currency, and there is going to be more of a tendency and a rush into Bitcoin. 
Now at some point this year, China's official authorities are going to just give into that, and there's going to be a change to their official approach to this whole thing. 
GH: And they're going to say go ahead and use Bitcoin. 
CH: Boy if you read out report you are going to be staggerd... it's going to be more than that.  China is going to rush out, because of the way they do things... the Chinese authorities know their existence, their very lives depend on the health, wealth, and happiness of the people below them, and so someone is going to come up with an idea to extend digital currency... Bitcoin, and we have the language there, even to people who trade goats now. 
And the idea is, China, along with their Silk Road train from Beijing to Berlin, is going to extend out fiber optics and bring in over a billion people into the internet in the shortest possible time.  And at the same time they're going to spread out the Bitcoin ethos through there. - USA Watchdog
In addition to Bitcoin expansion within their borders and all along the Silk Road, China is progressing rapidly towards becoming the world's largest gold market, that will now include jewelry in their platform.

Status as one of the world’s biggest bullion importers, participation in the gold fix at the London exchange and a plan to establish a jewelry gold investment center in Shanghai has turned China into one of the leading players in the global gold market in 2016. - Sputnik News
As currencies and bonds around the world teeter on the precipice of another crash or outright collapse, the future of finance is rushing away from these fiat forms of currency and returning to an era of sound money.  And with supplies of gold and silver being quickly gobbled up by consumers all throughout the Far East, the trends are signalling very strongly that right now is beyond the time in which individuals can get their metals and Bitcoin to be prepared for the coming paradigm shift.

Tuesday, December 27, 2016

China's gold market now being used to back the expansion of the Yuan

The antiquated 'gold standard' now appears to not be the only way to back one's currency with a precious metal as a new program instituted by the Shanghai Gold Exchange (SGE) will soon aid in the expansion and internationalization of the Chinese Yuan.

Just prior to the Christmas break, the SGE launched a new English language website that has the primary purpose of allowing foreigners to access products and purchase gold in RMB.  And since the SGE is the world's largest physical gold market, this move has the two-fold effect of first allowing individuals to bypass London and the Comex if they have no interest in paper gold trading, and secondly to aid in the expansion and internationalization of the Yuan in global trade.

Last week the Shanghai Gold Exchange (SGE) launched a new English website to offer international customers more information and tools on trading gold in renminbi through its subsidiary in the Shanghai Free Trade Zone the Shanghai International Gold Exchange (SGEI). BullionStar took the opportunity to translate a speech by a Teng Wei, Deputy General Manager of the SGEI, named “How China’s Gold Market Can Help The RMB Achieve International Status” that was held at the Renminbi World summit in Beijing on the 29th and 30th of November 2016. In the speech Teng Wei outlined his vision for the SGEI going forward regarding renmibi (RMB) internationalization, connecting the onshore and offshore renminbi market and increasing gold market share. - Bullionstar via Zerohedge
weekly-sgei-sge

Graphic courtesy of Bullionstar

Over the past 45 days the Shanghai Gold Exchange has begun to disconnect itself from the global price standard set twice a day in London and New York by adding premiums of between $30 - $50 to their designated 'fix price'.  And by having a price spread of this magnitude so far above that of the Western paper gold markets, opening up a new portal for U.S. and European traders to buy gold, even in the Yuan currency, will lead to a massive increase in their market share of the global gold market and an ever expanding increase in transactions being done in the Chinese RMB.

Friday, July 8, 2016

The big winner in the Brexit vote may be China and the RMB

Prior to the UK Brexit vote two weeks ago, the City of London had already begun issuing Yuan denominated bonds to help begin the internationalization of the Chinese currency.  And with Britain choosing to break away from the oligarchical government that was being run out of Brussels, a new allegiance with China and their monetary system could aid in lessening Britain’s financial struggles, and make China the biggest winner in the Brexit outcome.
London’s role as a major offshore yuan hub is likely to survive Britain’s decision to leave the European Union, but the vote could help foster the Chinese currency’s internationalization by encouraging multiple yuan hubs in the bloc.
In the aftermath of the referendum, market-watchers and domestic Chinese media had raised fears London’s leading role as an offshore yuan hub would be undermined, potentially setting back Beijing’s efforts to internationalize the yuan.
But as the dust begins to settle, some bankers and analysts believe the pessimism was overdone. That is not to say there will not be an impact, but the move may encourage China to foster yuan trading in cities in mainland Europe and so expand the currency’s global footprint.
“We expect London to keep its status as the world’s largest foreign exchange center though some of the city’s other financial services may have the risk to be moved to other countries following Brexit,” said Andrew Fung, head of global banking and markets at Hang Seng Bank, adding FX trading is currently the key part of the yuan’s internationalization. - Sputnik News
chinadollar

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Tuesday, December 29, 2015

End of Petrodollar? First Middle Eastern oil power to open Chinese currency hub

Since 1973, the dollar has held sway over the global financial system through its connections to oil, and with the Middle Eastern producers who sell it in American currency.  But as dollar hegemony has waned over the past decade, and as the U.S. has gone to war against any nation (Iraq, Iran, Libya) who has tried to sell their oil in currencies other than the dollar, members of OPEC have been seeking ways to move away from the petro-dollar and into alliances with other powers that could protect their sovereignty.
And now they may finally have it.
On Dec. 27, the United Arab Emirates (UAE) signed an agreement with China to become an RMB hub and clearing house for the expanding Chinese currency.  And with one of the richest OPEC states opening the door for the Yuan, it will not be long before others like Saudi Arabia join on board which will then initiate the use of the Yuan in global oil purchases.

Wednesday, November 25, 2015

China opens up its Forex markets to foreign central banks

As China continues to accelerate the internationalization of the Yuan currency, a new element was introduced on Nov. 25 which will facilitate expanding its reach even further.  The People’s Bank of China (PBOC) opened up its Forex markets to foreign central banks, and will now allow these institutions to participate in swaps, options, and other Forex products.
Seven institutions will be part of the initial phase into foreign participation of China’s Forex market, and they include: Hong Kong Monetary Authority, Reserve Bank of Australia, Hungarian National Bank, International Bank for Reconstruction and Development, International Development Association, World Bank Group Trust Funds, and GIC Private Limited.

Friday, November 6, 2015

Russia becomes 4th country to open its bond market to Chinese Yuan

In just the past 30 days we have seen three major economies open up their bond markets to allow the sale of Chinese Yuan denominated debt instruments.  And on Nov. 6 we can now add a 4th country to this list as Russia announced their will begin selling RMB denominated bonds in their own markets beginning in 2016.
Russia already has several trade agreements with China that allow for direct bi-lateral trade in each other’s currencies, and as the largest energy producer in the world, this new move will have massive consequences for the petro-dollar as the growing internationalization of the RMB will lead more and more nations to bypass the global reserve in favor of direct energy purchases using the Yuan.

Monday, September 21, 2015

As the U.K. mulls leaving the EU, new agreements with China show direction of next global system

When Prime Minister David Cameron’s Tory party won the last British election with a resounding mandate, a key component of this was tied to a future referendum vote on whether to leave the European Union, or remain in its political sphere for the foreseeable future.  But as Europe, the U.S., and most Western financial entities are beginning to financially breakdown, and show no signs of ending their money printing schemes, Britain is again looking Eastward and towards the Yuan as a serviceable replacement for the Euro or even the dollar.
The City of London is considered one of the three primary financial centers in the global economy, and when they decided over the past year to create a Yuan swap line and facilitate the selling of RMB denominated bonds, the writing was on the wall that Britain was going to look out for itself despite attempts by the Eurozone to lash together all nations under a singular monetary policy.

China approves new agreement with Argentina for bi-lateral trade in own currencies

Argentina has gone through extreme economic turmoil over the past few years, including a default on their sovereign bond obligations that has put their nation in financial extremes that are even affecting their political system.  But like Iceland, who chose to suffer a short term recession in exchange for punishing the bankers who created their financial crisis, the country may now be looking for new ways to get out from under the Western backed monetary system of control.
On Sept. 20, China authorized the creation of a Yuan swap-line agreement with Argentina which will facilitate direct bi-lateral trade between the two countries using the RMB instead of the dollar.

Saturday, August 22, 2015

Get ready for next move against dollar as IMF delays Yuan inclusion to SDR for a year

On Aug. 19, the IMF announced that they were delaying the decision to include the Chinese Yuan (RMB) into the SDR basket of currencies for at least one year, or until Sep. 30, 2016.  The decision to exclude the Yuan in next year’s basket content was determined a week ago, but the announcement to go forward with allowing China to stabilize and strengthen its currency was only released today.
IMF executive board extends current composition of its Special Drawing Rights for nine months until Sept. 30, 2016.
IMF staff had recommended extending the current basket, which was due to expire Dec. 31, to minimize disruption if yuan added.
Board decision gives SDR users “sufficient lead time to adjust in the event that a decision were to be taken to add a new currency to the SDR basket”
Board made decision Aug. 11IMF says in statement - Bloomberg via Zerohedge


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Friday, July 31, 2015

The next step in China determining gold prices initiated as LME accepts Yuan in contract purchases

For owners of physical gold who have been frustrated with the manipulation and falling prices over the past four years, the day of reckoning is slowly coming upon them.  Beginning a few months ago when the London Gold Fix committee invited China to be a member of the daily price fix mechanism, the next step in having price determination move from the West over to Shanghai and Hong Kong is underway as on July 28, the London Metals Exchange (LME) ruled to allow Yuan to be used to settle gold and other commodity metal contracts.
In fact, with a Hong Kong factor purchasing the LME three years ago, it was inevitable that metal contracts would eventually be open for RMB settlement.
 

Tuesday, June 16, 2015

IMF begins process for bringing Chinese Yuan into the SDR

On June 14 the IMF sent a team of analysts to Beijing to begin the process of determining whether the Chinese Yuan will become part of the Special Drawing Rights (SDR) basket of currencies.  Already progressing quickly as a globally used trade currency since 2009, the Yuan or RMB is now looking to make its mark in one of the most important financial institutions in the West.
Since December of last year, the Chinese Yuan has become one of the top five used currencies for international trade, with more than 23 major economies creating swap lines to facilitate its use.  And at the same time that the dollar is losing market share in global trade, the RMB has jumped more than 4% in just the past 12 months.

 

Wednesday, June 10, 2015

Dubai capable to host RMB clearing hub, wants more Chinese financial investment: official

Dubai has the potential to host a clearing hub for the Chinese currency, and seeks to attract additional Chinese financial firms to invest in the emirate, head of a local free trade zone said on Wednesday.
Essa Kazim, chairman of the free zone Dubai international financial center (DIFC) authority, said the DIFC could become a clearing hub for the Chinese currency RMB. Earlier in April this year, Qatar established the first RMB clearing hub in the Middle East in Doha.
Earlier in the week, ICBC, the world's largest bank, listed a 500 million dollar bond, the first dollar bond by a Chinese lender in the Middle East, on the Nasdaq Dubai, the international capital market which is located in the DIFC.
Zhou Xiaodong, general manager ICBC Middle East, told Xinhua he hopes for more Chinese firms to follow and to list bonds on Dubai in order to create a liquid market in Dubai as a financial link between the Middle East and East Asia.
 

Friday, May 29, 2015

China on the edge of becoming full fledged trade currency with IMF acceptance, meaning potential end to the dollar

Over the past three years the Chinese Yuan (RMB) has grown as a global trade currency from a starting point of around 3%, to its current level of over 12%.  And with 60 central banks around the world investing in the Yuan, and 30 nations having direct currency swap lines for the RMB, China is right on the cusp of exploding into a full fledged trade currency to not only compete with the dollar, but to summarily end its reign as the global reserve.
In fact, China is so close to achieving this goal that America’s reign over the reserve currency may hinge on the IMF’s upcoming decision to allow the Yuan to be part of its SDR basket, which would facilitate the spreading of Yuan based bonds to all corners of the financial system.  And if this happens, the majority of global trade partners, especially those in Asia and Eurasia, are prepared to completely divest themselves from the dollar and begin a new environment of direct bi-lateral trade using no middleman at all.