Why gold? Gold doesn't rust or degrade. All the gold that has ever been mined anywhere on Earth is still somewhere on Earth. Except some bits that were shot out into space...metaleap wrote:Absolutely a major reason. Moreover it cannot currently be fabricated/synthesized and mine production has predictable and also ever-declining output but currently maintains roughly a 2%-or-less annual "gold inflation" rate, incidentally the same rate targeted for fiat by CBs..Lucky Lucan wrote:Another point might be that gold is a rare resource
Lucky Lucan wrote:has plenty of uses in conductors/electronics manufacturing which China seems to be leading the world in
Yuan to be directly convertible with SG$: CN gov't
- Falcon Randwick
- Damn, I just saw my Internet Bill !
- Reactions: 3
- Posts: 4381
- Joined: Mon Feb 14, 2005 2:55 pm
Like Potato Stars on facebook. We're likable...
https://www.facebook.com/potstars1
...and make your ears hate you by listening to us here
https://soundcloud.com/falcon-randwick
https://www.facebook.com/potstars1
...and make your ears hate you by listening to us here
https://soundcloud.com/falcon-randwick
Right on cue! Christine Lagarde warns US over IMF reform failingsmetaleap wrote:As for the IMF, it's not going to be missed if it doesn't prove itself as "necessary valuable and credible in our time".
Christine Lagarde, the fund’s managing director, said she had “expressed her disappointment” to the US. The IMF will now explore “alternative options” after Congress ignored a package of governance changes first agreed in 2010.
The G20 group of leading economies issued an ultimatum in April, urging the US to pass the reforms by the end of 2014. The latest refusal by Congress means the US could be cut out of future reforms altogether.
“Adoption of the reforms remains critical to strengthen the fund’s credibility, legitimacy, and effectiveness, and to ensure it has sufficient permanent resources to meet its members’ needs,” Ms Lagarde said.
“As requested by our membership, we will now proceed to discuss alternative options for advancing quota and governance reforms . . . starting with an executive board meeting in January 2015.”
I read recently that when the debt gets as huge as the US debt to the Chinese then the debtor has all tne power over the debtee.
Limited by the Chinese power (of 4 trillion USD/UST reserves) to crash the entire US financial system. All they'd need to do is "spend them all" one fell swoop (for example, bail out friendly countries in currency/USD-nominated-debt troubles, buy all the oil & precious-metals futures paper Comex etc. can print and stand for physical delivery etc.), causing all other global holders in-size to follow suit asap. While it would be stupid, destructive, counterproductive and quite self-harming to do so unprovoked, it's a powerful capability to have to keep the other side in check
BBG: China Offers Russia Help Shoring Up the Ruble With Currency Deal
BBG: China PBOC Signs 70b Yuan Currency Swap Pact With Thailand
BBG: China PBOC Signs 70b Yuan Currency Swap Pact With Thailand
-
- Similar Topics
- Replies
- Views
- Last post
-
-
Vietnam: Central bank mulls ban on purchase of convertible bonds
by kungfufighter » Sat May 09, 2020 6:58 am » in Thailand, Vietnam, Myanmar and Lao forums - 0 Replies
- 1808 Views
-
Last post by kungfufighter
Sat May 09, 2020 6:58 am
-
-
- 7 Replies
- 2238 Views
-
Last post by ផោមក្លិនស្អុយ
Tue Apr 16, 2024 7:47 pm
-
- 3 Replies
- 2079 Views
-
Last post by logos
Wed Apr 17, 2024 12:42 pm