Tag Archives: China

Inside a Chinese Bitcoin Mine

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“The first thing you notice as you approach the warehouse is the noise. It begins as soon as you step out of the car, at which point it sounds like massive swarm of angry bees droning away somewhere off in the distance. As you step through the doors it becomes a deafening and steady roar; a combination of tens of thousands of tiny ASIC chips hashing away, and dozens of large industrial fans serving to cool down the ‘workers’. The next thing that hits you as you enter is the wind. The deeper into the building I walked, the more powerful the gust became, coming from behind me and rushing past, across the giant warehouse floor full of machines.”

http://www.thecoinsman.com/2014/08/bitcoin/inside-chinese-bitcoin-mine/

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China begins direct convertibility to Asia’s #1 financial center, Singapore

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“The Chinese government announced that the renminbi will become directly convertible with the Singapore dollar… effective tomorrow morning.  It’s clear this deal has been in the works for a while, and it’s another major step towards the continued internationalization of the renminbi and unseating of the dollar as the world’s dominant reserve currency.  For decades the renminbi has been a tightly controlled currency. It’s only been in the last few years that the Chinese government started loosening those controls, primarily in response to the obvious need for a dollar competitor. China is taking the lead in providing the world with another option.”

http://www.sovereignman.com/trends/the-dollar-decline-continues-china-begins-direct-convertibility-to-asias-1-financial-center-15435/

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Britain issues first non-Chinese sovereign RMB bond

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“The RMB 3 billion bond, which is equivalent to approximately £300 million, has a maturity of 3 years and delivers on the Chancellor’s announcement at the recent annual UK-China economic summit in London that the government intended to issue an RMB bond.  It is the world’s first non-Chinese issuance of sovereign RMB debt and will be used to finance Britain’s reserves. Currently, Britain only holds reserves in US dollars, euros, yen and Canadian dollars, so today’s issuance signals the RMB’s potential as a future reserve currency. The bond issuance, which saw strong demand from investors, also further cements Britain’s position as the most important RMB market in the western world.”

https://www.gov.uk/government/news/britain-issues-western-worlds-first-sovereign-rmb-bond-largest-ever-rmb-bond-by-non-chinese-issuer

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China signs currency swap deal with Qatar, in heart of the petro-dollar

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“The petro-dollar system is the heart and soul of America’s domination over the global reserve currency, and their right to make all nations have to purchase U.S. dollars to be able to buy oil in the open market. Bound through an agreement with Saudi Arabia and OPEC in 1973, this de facto standard has lasted for over 41 years and has been the driving force behind America’s economic, political, and military power.  But on Nov. 3 a new chink in the petro-dollar system was forged as China signed an agreement with Qatar to begin direct currency swaps between the two nations using the Yuan, and establishing the foundation for new direct trade with the OPEC nation.”

http://www.examiner.com/article/china-signs-currency-swap-deal-with-qatar-the-heart-of-petro-dollar-system

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Canada just became North America’s first offshore renminbi hub

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“The People’s Bank of China and the Canadian Prime Minister’s office issued a statement on Saturday stating that Canada will establish North America’s first offshore renminbi trading center in Toronto.  China and Canada agreed on a number of measures to increase the use of renminbi in trade, business, and investment. And they further signed a 200-billion renminbi bilateral currency swap agreement.  Moreover, just today, hot off the presses, the central banks of China and Malaysia announced the establishment of renminbi clearing arrangements in Kuala Lumpur, which will further increase the use of renminbi in South-East Asia.”

http://www.sovereignman.com/offshore-banking-2/still-happening-canada-just-became-north-americas-first-offshore-renminbi-hub-15541/

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China to lay out massive quantum network for information security

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“A quantum communication network between Beijing and Shanghai — the two political and financial centres of the country — is now under construction, and is projected to be put into service by 2016. The 2,000-kilometre network between Beijing and Shanghai is slated to become the world’s longest quantum communication network.  China also plans to achieve Asia-Europe intercontinental quantum key distribution by 2020, and is ready to build a global quantum communication network by the 2030.  Quantum cryptography is believed to be able to create ‘unbreakable’ messages, as any attempt to access the encryption will be detected by the system immediately.”

http://www.zdnet.com/china-to-lay-out-massive-quantum-network-for-information-security-7000035436/

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Jim Rogers: “Sell Everything & Run For Your Lives?”

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“Erin sits down with famed investor Jim Rogers to talk about Russia, agriculture, and China. Rogers is bullish on agriculture and likes China. But he sees the Chinese purchase of the Waldorf-Astoria hotel as a top of the market kind of ‘trophy’ acquisition. Jim also comments on whether a US equity bear market is on the horizon.”

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US Now Admits It Is Funding “Occupy Central” In Hong Kong

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“Just as the US admitted shortly after the so-called ‘Arab Spring’ began spreading chaos across the Middle East that it had fully funded, trained, and equipped both mob leaders and heavily armed terrorists years in advance, it is now admitted that the US State Department through a myriad of organizations and NGOs is behind the so-called ‘Occupy Central‘ protests in Hong Kong.  The very concept of the United States ‘promoting democracy’ is scandalous when considering it is embroiled in an invasive global surveillance scandal, guilty of prosecuting one unpopular war after another, and brutalizing and abusing its own citizens at home with militarized police.”

http://landdestroyer.blogspot.ca/2014/10/us-now-admits-it-is-funding-occupy.html

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China Tries Again to Jolt Tired Economy

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“China’s central bank is planning to inject 200 billion yuan into the banking system, according to financial executives briefed on the matter, as recent credit-easing measures have failed to push the world’s second-largest economy back to stronger growth rates amid deepening worries about a global slowdown.  The latest effort by the People’s Bank of China, which will offer funds to about 20 large national and regional banks, follows last month’s move to pump 500 billion yuan into the country’s five major state-owned banks. It comes as concerns mount in Beijing that the nation will miss its growth target—set at 7.5% this year—for the first time since the 1998 Asian financial crisis.”

http://online.wsj.com/articles/chinas-central-bank-to-inject-more-funds-into-chinese-banks-1413549172

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Jim Rogers says Korea to unify within 5 years

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“I wanted to go to Rason because that is where the Russians just rebuilt the railroad across Siberia into Rason and that is where they are rebuilding the port. Rason is going to become the most important port in Asia in the next decade or two. If you put goods on the train in Rason, they get to Berlin two weeks earlier [than the current alternative]. Putin knows this, the Koreans know this, the Chinese just put in a railroad across China and Kazakhstan to get things to Europe much faster so geography is changing as we speak. You wouldn’t know it if you watch (American TV).  I went to the market, you could get anything. Stuff that I don’t even have myself.”

http://www.futuresmag.com/2014/10/10/rogers-says-korea-to-unify-within-5-years

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