Tag Archives: SDR
After six years, China finally revealed its “total” gold hoard today in a statement issued by the PBOC (People’s Bank of China). The grand total? 1,658 metric tons, placing the country in 5th place worldwide. It’s an increase of more … Continue reading →
The London Bullion Market Association has announced that the Bank of China has joined Goldman Sachs, UBS, Barclays, HSBC, Bank of Nova Scotia, Societe Generale, and JP Morgan as the first Asian bank to participate in the new daily gold … Continue reading →
It is possible that at the end of last year, World War III quietly broke out and hardly anyone noticed. For now, it seems to be contained in small pockets in Syria, Iraq, and Ukraine. More recently though, tensions have … Continue reading →
Billionaire investor George Soros said flatly that he’s concerned about the possibility of another world war Much depends on the health of the Chinese economy, Soros said in remarks at a Bretton Woods conference at the World Bank.
The largest bank in the U.S., JP Morgan Chase, has made two disturbing moves in recent weeks that should give many Americans significant cause for worry. It isn’t yet known what the reasons behind these moves are, but one thing … Continue reading →
JC Collins at the Philosophy of Metrics lays out how gold will likely be included in the newest incarnation of the IMF’s Special Drawing Rights Reserve Currency.
Reuters is reporting today that China’s International Payment System or CIPS is ready for use and could be launched as soon as September or October of this year. The system will be utilized as an alternative to the SWIFT payment system (Society … Continue reading →
Each day more pressure builds to end the euro. The Danish Krone is crumbling this morning after a statement made yesterday by the head of Denmark’s Economic Council, Hans Jorgen Whitta-Jacobsen. He said that the country would use “capital controls” if necessary … Continue reading →