Tag Archives: yuan

China Finally Reveals Gold Holdings

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

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The War in Ukraine and the War in Syria Might be the Same War– has WW3 Already Begun?

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

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Global De-Dollarization Continues as China Readies SWIFT Alternative

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

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Currency Wars Intensify; China Declares Renminbi the “New World Currency”

Day by day, the currency wars continue to heat up. With the European Central Bank’s Quantitative Easing program now underway and the end of the euro in sight, many other countries around the world have joined the race to the … Continue reading

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Head of China’s Central Bank Says Some Countries Already Using Yuan as Reserve Currency

Zhou Xiaochuan,  the governor of the Central Bank of China revealed in an interview with Bloomberg this week that the yuan is already being used as a reserve currency by some countries, though they “may not be willing to say so.” … Continue reading

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China Boosting Gold Reserves

The managing director for the Official Monetary and Financial Institutions Forum in London, David Marsh, said in an interview on September 11, “It is clear that western central banks over time will be reducing their reserves and China and other Asian countries … Continue reading

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Is the Dollar Doomed? U.K. Issues First Yuan-Denominated Bond for Currency Reserves

On Friday, the U.K. government announced plans to issue the world’s first non-Chinese sovereign bond denominated in the renminbi.  The landmark move leads the way in establishing the Chinese yuan, or renminbi, as an international reserve currency and could be … Continue reading

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