Author: abramicus

CHINA'S BID TO BECOME AN IMF RESERVE CURRENCY IS A FALSE GOAL. [Copy link] 中文

Post time 2015-4-30 19:35:09 |Display all floors
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Post time 2015-4-30 19:44:28 |Display all floors
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Post time 2015-4-30 20:47:25 |Display all floors
let put it in a simple term...$$$ talks bs walks (from the mouth of the good ol USA)  
a man who uses his hands is a laborer. one who uses his hands and his mind is a craftsman. but he who uses his hands, his mind, and his heart, is an artist...

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Post time 2015-5-1 13:14:09 |Display all floors
What is alarming is that the People's Bank of China has become IMF's Bank of China, or a subsidiary of the Bank of Japan, when it comes to promoting Japanese exports over Chinese products everywhere in the world, including in China herself.

And, what is more alarming is that the overseers of the PBOC are acquiescing to the Draconian exchange rate policy of overvaluing the Yuan regardless of its consequences on the manufacturing sector, on the solvency of Chinese factories, and on the job security or livelihood of China's hundreds of millions of workers.

It almost is, if not is, an economic Coup d'Etat, with the loser being the Chinese public.

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Post time 2015-5-3 08:37:32 |Display all floors
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Post time 2015-5-3 09:03:06 |Display all floors
China should get Zhu Rongji back in charge of the PBOC to straighten out this mess.  It requires someone with 100% loyalty to China, uninfluenced by foreign Economic Hit Men, and uses Chinese common sense to solve the artificially "complicated" exchange rate problems, among which is the "fear" of competitive devaluations, which only makes China's dollar reserves all the more valuable, such that China could probably buy up the world with it if it hits rock bottom.  The time to do it is now, while China's foreign reserves are still at 3.8 trillion dollars.  Waiting solves nothing, only makes matters worse.

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Post time 2015-5-3 09:10:37 |Display all floors
This post was edited by abramicus at 2015-5-3 09:18

A MATTER OF SENSE AND SENSIBILITY FOR EX-PATS OF CHINA SADDLED WITH FOREIGN LOANS

Warning to Chinese businesses borrowing foreign-denominated loans . . . do not subsidize the foreign financial invasion of China with your own money . . . if China devalues to save the public from penury, even if your riches are stashed away in a foreign country in a foreign currency, your foreign creditors can still get to you.

Best to convert your foreign-currency-denominated loans into Yuan-denominated-loans now.

When the shit hits the fan, of factory closures and mass unemployment, and a new China-oriented PBOC is in place which then devalues the Yuan in order to save the Chinese economy, don't end up being beggars in a foreign country.

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