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Posts Tagged ‘World Currency Reserve’

RBS says CNY has the potential to become global reserve currency

March 18, 2011 Comments off

finchannel.com

The FINANCIAL — The Royal Bank of Scotland Plc (RBS) believes Chinese Renminbi (CNY) can potentially become a world reserve currency comparable to the USD.

This is one of the findings in the newly released research report ‘CNH Market Guide: A precursor to internationalisation of the Chinese Renminbi’, the most comprehensive research yet to look at the offshore CNY market in Hong Kong, also known as the CNH market.

The combination of growth in the offshore CNY market and the sheer size of the Chinese economy will support the Chinese government’s ambition to internationalise its currency, according to RBS.

“China now holds 30% of the world’s USD9trn foreign reserves. The other 70% which does not belong to the People’s Republic of China (PBOC) could potentially be held in CNY. As China’s share Read more…

The Rule of Gold after the Financial Collapse

March 15, 2011 Comments off

www.batr.org

 

“You can own silver and gold but never any fiat currency issued by someone else”
Peter Cajander

 

 

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In a secular world, the operative “Golden Rule” is “He Who Has the Gold Makes the Rules”. The condition of the global financial banking system is untenable. The aggregate amount of debt worldwide is anyone’s guess. The introduction of derivatives and counter claims pushes the chain of obligations into the unknown. All that is left is for central banks to create mountains of uninterrupted counterfeit money to roll over and delay the inevitable. The IMF chart of World Currency Reserve is a skyrocket line to oblivion. It does not reflect a healthy stockpile of treasure, but certainly manifests a new debt machine running to infinity. The Bullion Vault explains this reality in the following manner.  

“Sure, the Fed can create money. But it can’t create Read more…