Tag Archives: China

Defeated By The Taliban, Washington Decides To Take On Russia And China

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“With the collapse of the Soviet Union, Washington quickly stepped into the place of Russia. The new countries were all broke, as was Russia at the time and, thus, helpless. Washington used NGOs funded by Washington and its EU puppets to create anti-Russian, pro-American, pro-EU movements in the former constituent parts of Soviet Russia. The gullible peoples were so happy to have escaped the Soviet thumb that they did not realize that they now had new masters.  It is a good bet that the Ukrainian protests are a CIA organized event, using the Washington and EU funded NGOs and manipulating the hatred of Ukrainian nationalists for Russia. The protests are directed against Russia.”

http://www.paulcraigroberts.org/2013/12/04/19038/

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‘I can’t look at myself in the mirror’: Hendry reveals he has turned bullish

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“Eclectica hedge fund manager Hugh Hendry has said he has been forced to leave his bearish outlook behind as he faces up to a market ‘which only makes sense through the prism of trends’.  Hendry said he is no longer fighting the ‘two-way feedback loop’ which is continuing to boost risk assets.  That centres on the currency war being played out between the US and China, in which US QE prompts dollar-denominated investment to head to China, and China fights the resulting upwards pressure on its currency by manufacturing an investment boom –  leading to falling US inflation expectations, which in turn prompts the Federal Reserve to loosen policy once again.”

http://www.investmentweek.co.uk/investment-week/news/2308814/i-cant-look-at-myself-in-the-mirror-hendry-on-why-hes-turned-bullish

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Bitcoin: China’s New Special Economic Zone

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“With the People’s Bank of China’s announcement, the establishment of Bitcoin as yet another one of these areas – the first ever that only exists in cyberspace, has essentially become official. The announcement specifically forbade the existing Chinese banking system from interacting with the Bitcoin economy, but otherwise created an environment for the Bitcoin economy that some have described as even more free than that of Europe. Although exchanges are required to follow know-your-customer guidelines and register with telecommunications authorities, aside from this they do not need any kind of financial license in order to operate. The Bitcoin economy will be allowed to grow.”

http://bitcoinmagazine.com/8778/bitcoin-chinas-new-special-economic-zone/

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China central bank suggests faster tempo for freeing yuan

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“China’s central bank governor has dangled the prospect of speeding up currency reform and giving markets more room to set the yuan’s exchange rate as he underlines broader plans for sweeping economic change.  The central bank under Zhou Xiaochuan has consistently flagged its intention to liberalize financial markets and allow the yuan to trade more freely, even before the Communist Party’s top brass unveiled late last week the boldest set of economic and social reforms in nearly three decades. Since the 60-point reform plan was released, Zhou has suggested urgency in pushing for change, although he has not provided any specific timetable.”

http://www.reuters.com/article/2013/11/20/us-china-reform-idUSBRE9AJ09Y20131120

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China’s free trade zone plans herald quicker FX reforms

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“China plans to roll out financial sector reforms in the Shanghai special economic zone in the next three months and most will be implemented in a year, suggesting authorities are accelerating the pace of dismantling capital account controls.  A People’s Bank of China (PBOC) statement on Wednesday for the first time gave a timeline for launching deep reforms in the zone, adding they could then be duplicated in other similar zones around the country.  The statement came after the PBOC provided additional detail for its plans for financial liberalization in the Shanghai free trade zone (FTZ) in a separate document published on Monday.”

http://www.reuters.com/article/2013/12/04/us-china-reforms-idUSBRE9B30AC20131204

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Now, in Second Place Is …

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“The yuan in October emerged as the world’s second-most used currency in global trade finance. Countries generally trade through the dollar. They convert euros (or whatever the local currency happens to be) into greenbacks to buy some load of widgets from the Chinese. Then, China takes those dollars and converts them into yuans. But now countries are increasingly bypassing the buck and just dealing directly in the yuan. Yes, the dollar still plays a role in 81% of world trade, and the yuan is only at 8.7%. But all big trends start off small – the yuan was less than 2% of trade as recently as January 2012 – and this, mark my words, is part of a much bigger trend. And it will impact your life.”

http://thesovereigninvestor.com/2013/12/05/now-second-place/

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Five held over Bitcoin scams in China and Germany

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“The German authorities say they arrested two people following an investigation into malware that generated the virtual currency by infecting its victims’ PCs.  Xinhua reports three people have been detained in China after a trading platform was shut without warning, cutting off investors from their funds.  The cases do not appear to be related.  The German Federal Criminal Police Office say one of its suspects was arrested in the southern state of Bavaria and the other in the northern region of Lower Saxony.  It accuses them of being behind a botnet that allowed its operators to secretly use other people’s computers to carry out ‘Bitcoin mining’.”

http://www.bbc.co.uk/news/technology-25217386

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Despite panic, China’s regulation of Bitcoin leaves room for optimism

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“In the aftermath of the first official statement by the Chinese government regarding Bitcoin, the entrepreneurs in China’s Bitcoin industry are optimistic. As is common in China, the actual extent of these regulations will be worked out over time as the Bitcoin industry develops, giving the government room to respond to new threats.  My view is that this notice represents an expected development that encouragingly stops short of more stringent restrictions or an outright ban on Bitcoin’s use, and tomorrow China will still be the biggest potential Bitcoin market in the world.”

http://www.techinasia.com/panic-chinas-regulation-bitcoin-leaves-room-optimism/

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China feeds bitcoin frenzy

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“More than a third of the world’s bitcoin transactions now flow through China’s largest bitcoin trading website BTC China, according to bitcoin data websites. China has surpassed Japan’s Mt.Gox and Europe’s BitStamp, reaching 100,000 Bitcoins in daily trading volumes, or more than 400 million yuan (U.S.$65.7 million) in daily transactions. In recent years China has been pushing to internationalize the yuan, adding more value to the once tightly controlled currency on international markets. But despite the changes, controls mean individuals still find it difficult to invest in assets outside China. As a result, more Chinese are looking to invest in alternative assets like bitcoin.”

http://www.cnn.com/2013/12/04/business/china-bitcoin-frenzy/

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Squaring Bitcoin’s Uncertain Future With Its Meteoric Price Rally

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“As Citibank currency strategist Steven Englander observed in a research note this week, ‘with its inelastic supply and deflationary bias, [bitcoin] would look attractive to [central bank] reserve managers as a complement to gold, and in contrast to fiat currencies in unlimited supply.’ That makes the People’s Bank of China bitcoin’s biggest potential customer. Even if the limits to circulation will put a cap on China and other big reserve managers’ capacity to trade in this market, for now the sharp rally in bitcoin’s dollar-based valuation means that it could theoretically absorb a much bigger portion of their current reserves.”

http://blogs.wsj.com/moneybeat/2013/12/04/squaring-bitcoins-uncertain-future-with-its-meteoric-price-rally/

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