Author: abramicus

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

Post time 2015-5-3 09:45:16 |Display all floors
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Post time 2015-5-3 12:10:21 |Display all floors
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Post time 2015-5-3 12:22:47 |Display all floors
abramicus Post time: 2015-4-27 06:11
Source:  Wikipedia - Reserve Currencies

Here is the ACTUAL currency composition of official forei ...

Can I ask, did you write all of this yourself? That was a very interesting article in either event. Thank you.
You know that every time I try to go
Where I really want to be
It's already where I am
'Cause I'm already there

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Post time 2015-5-3 13:46:43 |Display all floors
incarnate Post time: 2015-5-3 09:45

Try as we might to explain and justify the exchange rate, interest rate, and banking reserve requirements of the PBOC, in the face of declining manufacturing activity (PMI skidded several times below 50 in the past several months), in the face of decline export income, in the face of factory cut-downs or shut-downs, leading to furloughed or laid off workers, in the face of failure of consumption to go up since the middle class and the working class have less to spend on housing, and other basic necessities, and in face of Japan brazenly devaluing the Yen to take advantage of China's upvaluation of the Yuan, picking up China's export earnings that have been left on the table for Japanese to take (this is just one step short of handing Japan hundreds of billions of dollars each year, but has exactly the same effect, because the same amounts of dollars have been transferred that are hard to trace because the money is left in the market, and picked up from the market), and . . .

with the realization that the fig leaf of China needing to maintain an overvaluation of the Yuan despite its pernicious effects on the Chinese people, "in order to be admitted as one of the IMF reserve currencies", is nothing but a joke, because the end result in the best of scenarios is that the Yuan will become 0.24% of the reserve currencies of the central banks of the world . . .

IT IS PLAIN OBVIOUS THAT THE PEOPLE'S BANK OF CHINA NEEDS TO BE RETURNED TO THE CHINESE PEOPLE BY APPOINTING A 100% PATRIOT TO TAKE OVER ITS REINS, ONE WHO HAS PROVEN HIS ABILITY TO RUN THE CENTRAL BANK OF CHINA, FOR THE PEOPLE, OF THE PEOPLE, AND BY THE PEOPLE OF CHINA, AND NOT BY THE IMF OR THE BANK OF JAPAN - ZHU RONGJI, ONCE FINANCE MINISTER, ONCE GOVERNOR OF THE PBOC, NOW RETIRED FROM ALL POLITICS, BUT A TREASURE NOT TO BE FORGOTTEN IN CHINA'S DARKEST HOUR, WHICH IS NOW.



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Post time 2015-5-3 13:54:34 |Display all floors
This post was edited by abramicus at 2015-5-3 14:52
QuatreVingtSept Post time: 2015-5-3 12:10
You make no sense...

The problem is not whether creditor can get to you.

THIS POST IS AN ANTICIPATION OF THE NEXT MOVE OF THE FOREIGN BANKERS TO PREVENT CHINA FROM DEVALUING THE YUAN THAT THE PBOC HAS OVERVALUED VOLUNTARILY FOR THE PAST FIVE YEARS, MADE WORSE IN THE PAST THREE YEARS DUE TO EXHAUSTION OF THE VITALITY OF THE MANUFACTURING SECTOR THAT IS THE BASIS OF BOTH THE EXPORTS AND DOMESTIC CONSUMPTION OF THE CHINESE ECONOMY.

THE NEXT MOVE OF THE FOREIGN BANKS IS TO THREATEN FORCING CHINESE BORROWERS OF FOREIGN CURRENCY DENOMINATED LOANS TO PAY BACK IN FOREIGN CURRENCY IF THE PBOC DEVALUES THE YUAN, CAUSING THEM AN ACUTE CASH FLOW CRISIS, AND INSOLVENCY . . .

THEREFORE, A TRULY 100% LOYAL PBOC WOULD BLOCK THIS COUNTER-ATTACK BY FOREIGN BANKS THROUGH ADVISING ALL BORROWERS OF FOREIGN DEBT TO RETIRE THOSE DEBTS.  BUT IF THEIR REASONS FOR BORROWING SUCH FOREIGN-DENOMINATED-LOANS IS LEGITIMATE, AND NOT AS A MEANS OF CAPITAL FLIGHT ALONE, THEN THE STATE CAN ASSUME THESE LOANS FOR THEM, CONVERT THEM INTO YUAN-DENOMINATED-LOANS, AND KEEP THEM SOLVENT THROUGH THE CURRENCY CRISIS THAT WILL UNFOLD AS CHINA BREAKS THE CHAINS OF ITS BONDAGE TO A FOREIGN-DICTATED OVERVALUED YUAN EXCHANGE RATE.

THESE CHAINS MUST BE BROKEN OR CHINA WILL END UP WITH ABSOLUTELY NOTHING FOR ALL THE HARD WORK IT DID IN THE PAST FIFTY YEARS.

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Post time 2015-5-3 14:00:09 |Display all floors
seanboyce88 Post time: 2015-5-3 12:22
Can I ask, did you write all of this yourself? That was a very interesting article in either event ...

Who I am is really unimportant.  What I say is very important, or I would not spend so much time saying it.  Vox populi, vox Dei!

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Post time 2015-5-3 21:22:28 |Display all floors
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