by John Galt June 5, 2012 23:00 ET I think this might be a good time for Americans to start paying more attention to not just Europe, but what is happening in the Far East. The following editorial is from China Daily, the Communist Chinese Party newspaper for foreign consumption. Escaping the dollar trap By Zhang Monan (China Daily) Direct yen-yuan trading is another step in China’s bid to extricate itself from excessive dependence on US currency As part of…
by John Galt January 16, 2012 09:25 ET The Chinese data came in a tad hot and now the doubts about the need for the Chinese authorities to ease comes into play. If the ChiComs fail to ease the Western economies already floundering might indeed see a deeper reduction in economic growth as the Chinese tap down inflation fears and continue to buy commodities on the cheap using their massive foreign reserves.
by John Galt January 15, 2012 20:20 ET Have no fear, the dollar will always be here! Or is that Underdog? The truth is in the migration away from the U.S. Dollar and into every possible currency but Mr. Bucky as the Federal Reserve has elected to monetize every freaking dime of debt to prevent the default of the United States due to non-payment and instead inflate away all of our worries. Other nations and companies apparently have that worry also and wish to…
By John Galt August 30, 2011 – 18:05 ET This little gem of a story from Business Day, a South African financial news publication should be another warning to the sleeping morons in D.C. and Wall Street: Renminbi may replace dollar in Sino-African trade While the Bernank and the Bammer have been out beating their chests about the “world’s reserve currency” the nation of Communist China has been quietly setting up international trade agreements with nations who have crucial supplies of raw materials and strategic…
By John Galt April 26, 2011 It was destined to be another quiet night on the international markets with Japan and Europe desperate to create a temporary dollar rally and the Fed more than happy to help where they could. Then from the other side of the globe an explosive headline from China Daily’s Tuesday edition: ‘New funds considered’ to protect reserves That sounds like a direct shot at one Ben Bernanke and the Federal Ponzi Reserve’s QE strategy but as one digs through…
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