Tag Archives: yuan

International

Destroy U.S. Dollar: U.S. ally ratifies free trade deal with China!

01 December 2015 (01:41 UTC-07 Tango 01)/10 Azar 1394/18 Safar 1437/20 Ding-Hai 10th month 4713

One year after I wrote that the Bank of Korea began using the Chinese yuan the government of Republic of Korea (RoK, aka south Korea) ratified the creation of a Free Trade Agreement (FTA) with China.

The FTA eliminates, within 20 years, 90% of tariffs on products traded between China and RoK.  ‘Lawmakers’ in RoK hope the FTA will create 53-thousand new jobs within ten years.

The ratification of the FTA comes after RoK experienced a 15.9% drop in exports from October 2014 to October 2015.

Destroy U.S. Dollar: IMF welcomes Chinese yuan!

International

Destroy U.S. Dollar: IMF welcomes Chinese yuan!

01 December 2015 (00:56 UTC-07 Tango 01)/10 Azar 1394/18 Safar 1437/20 Ding-Hai 10th month 4713

“In the next ten to 20 years it will be the currency of the world.”-Helen Mak, Hong Kong business woman

Washington DC based International Monetary Fund (IMF) now includes the Chinese yuan-renminbi-RMB as part of its Special Drawing Rights reserve currencies.  This is monumental considering the Chinese government began promoting the yuan for global trade just eight years ago.

The IMF is giving the yuan a ‘weight’ of 3rd, right after the U.S. dollar and European Union euro.  Japan’s yen is 4th.

Destroy U.S. Dollar: U.S. petrodollar meet the new Iran Petroleum Contract! 

Business/Economics

To Destroy U.S. Dollar: Australia & Singapore first to use Chinese Yuan in major transactions!

08 October 2015 (02:09 UTC-07 Tango 01)/16 Mehr 1394/24 Dhu l-Hijja 1436/26 Bing-Xu 4713

The Bank of China Australia and the Industrial and Commercial Bank of China Singapore conducted major international transactions using the Yuan (RMB, RenMinBi) instead of U.S. dollars.

The transactions totaled the equivalent of $11.34-million USD, involving companies in Singapore, Australia and China.   It’s the result of China’s new Cross-border Interbank Payment System.

However, Bank of China Australia (Sydney) says they’ve already ‘cleared’ $314.8-billion USD since February, and Industrial and Commercial Bank of China Singapore cleared $7.41-Trillion USD for the first three quarters of 2015!

USD = U.S. dollar

AUD = Australian dollar

CAD = Canadian dollar

XCD = East Caribbean dollar

NZD = New Zealand dollar

There are dozens of countries that use their own dollar.  The yuan is now the 4th most used international currency.

To Destroy the Dollar: Chinese banks making bank off other countries! 

Business/Economics

To Destroy U.S. Dollar: Yet another U.S. ‘ally’ abandons U.S. dollar for Chinese Yuan! China blames USD for bad economy!

01 December 2014 (12:38 UTC-07 Tango)/08 Safar 1436/10 Azar 1393/11 Bing-Zi 4712

“If the won-yuan market matures, transaction costs for the two currencies will fall and the bilateral trade will rise, contributing to economic growth for both countries.”-Lee Ju-yeol, Bank of Korea

An east Asian ally of the United States, Korea (south), has stopped using the U.S. dollar for international trade deals!  At least when it comes to buying products from China.

The Bank of Korea has begun officially trading in Chinese yuan (aka renminbi), and admitted it was to get away from the U.S. dollar!  The Republic of Korea’s won to People’s Republic of China’s yuan trading system was test run last week.

The Bank of Korea has approved 12 smaller Korean banks to directly trade won for yuan.

Chinese administrators said that under the old U.S. dollar (USD) system converting from one local currency to the USD then back to another local currency actually doubled the cost of the products purchased.  In other words, the USD is a main reason why the World economy sucks!

Anybody notice the main streamer U.S. news media rarely (if ever) talks about the World’s rejection of the U.S. dollar?

Germany & Russia fully embrace Chinese Yuan!

Business/Economics

To Destroy U.S. Dollar: Germany & Russia fully embrace Chinese Yuan, 800% increase in 9 months!

23 November 2014 (10:17 UTC-07 Tango)/30 Muharram 1436/02 Azar 1393/02 Yi-Hai (10th month) 4712

The Obama regime sanctions against Russia are thoroughly backfiring, as Russia increased the use of China’s yuan by 800% from January 2014 to September 2014!

Germany has also become the first European Union country to directly deal in yuan!

In Frankfurt, the Bank of China has just opened an office to allow trade deals to be paid for in yuan (aka renminbi), not U.S. dollars.  So far ten major German banks have signed on to use the yuan.

Back in Russia, Chinese banking administrators say they now have “about 100 Russian commercial banks ” signed on to do deals in yuan (renminbi) only.  On top of that, Russia’s largest bank (Sberbank) is now offering loans in Chinese cash only!

Both Russian and European Union administrators say the primary purpose of moving away from the U.S. dollar is to create stronger economies, in other words, they’re blaming the crashing World economy on the U.S. dollar.  This is because for decades the World has had to convert to U.S. dollars to conduct international business, and doing so is getting more and more expensive: “Payments in rubles and yuan are very promising. Switching to such a large scale work means that the impact of the dollar on the global energy sector will objectively decline. This is not bad either for the global economy, or the world of finance and the world energy markets…..The People’s Republic of China is one of our key partners in the region. We will make greater use of settlements in our national currencies in our trade with China. We are already carrying out our first deals in rubles and yuan…..“-Vladimir Putin, President of Russia

European Union Joins China

Greece joins China to destroy the U.S. dollar!

Germany joins China to destroy U.S. dollar!

BRITISH EMPIRE…..ACCELERATING DESTRUCTION OF THE U.S. DOLLAR!

Total collapse!

British Empire joins Russia to destroy U.S. dollar!

“Your tyranny I was part of is now cracking on every side. And your own life is in danger, your empire is on fire!”-Gripped by Fear by Front 242, 1991

Business/Economics

World War 3: European Union Joins China to destroy U.S. dollar!

30 September 2014 (05:09 UTC-07 Tango)/05 Dhu l-Hijja 1435/08 Mehr 1393/07 Gui-You (9th month) 4712

Today, China and European Union (EU) begin trading each other’s currencies directly, circumventing the almighty U.S. dollar!

Greece joins China to destroy the U.S. dollar!

Germany joins China to destroy U.S. dollar!

BRITISH EMPIRE…..ACCELERATING DESTRUCTION OF THE U.S. DOLLAR!

Total collapse!

British Empire joins Russia to destroy U.S. dollar!

“Your tyranny I was part of is now cracking on every side. And your own life is in danger, your empire is on fire!”-Gripped by Fear by Front 242, 1991

International, U.S.

What Economic Recovery? IMF accepts Chinese Yuan policy against U.S. dollar, Japan loans IMF billions to bail out Europe, IMF says it’s not enough!

April 15, 2012, Japanese Finance Minister Jun Azumi, announced that Japan will lend $50 billion USD to the International Monetary Fund (IMF) to help bail out the European economies.

The IMF says at least $500 billion USD is now needed to bail out Europe!

On April 14, IMF managing director Christine Lagarde, said she welcomes the Chinese Yuan:  “I would like to welcome this important step by the People’s Bank of China to increase the flexibility of their currency. This underlines China’s commitment to re-balance its economy toward domestic consumption and allow market forces to play a greater role in determining the level of the exchange rate.”

The Bank of China said it will allow the value of the yuan to fluctuate by at least 1%, against the U.S. dollar, when international markets open on Monday.  Up ’till now the Chinese central bank has allowed only a half percent fluctuation.

However, some analysts say allowing the value of the Chinese yuan to fluctuate more could result in even more volatility/instability for world markets.

 

Business/Economics, International, U.S.

Global Economic War: China to start using Yuan for International Loans, BRICS will dump the U.S. dollar, Hillary Clinton demands China prove its intentions! The end of U.S. dollar dominance begins March 29!

“We will discuss the creation of structures and mechanisms for lending in local currencies in order to maximize economic and financial transactions between the countries that are members of the accord.”-statement from Brazil’s development bank BNDES

The BRICS are about to lead a new Revolution; no more U.S. dollar!  It’s being spearheaded by the Chinese Development Bank.

BRICS members (Brazil, Russia, India, China and South Africa) are about to institute a new World Lending system that will not require the use of the U.S. dollar!

Reports say the new system will be signed into operation by BRICS members on March 29, 2012.  It will deal in not only the Chinese Yuan, but in local money as well.  Currently most international lending systems require loans to be made in U.S. dollars.  That’s because the major lenders, the IMF and World Bank, are actually run by the United States.

In response (yet not really explained by the main stream U.S. media why Clinton is making such a statement) U.S. Secretary of State, Hillary Clinton, is demanding China explain itself: “Given the historic challenges to security and stability posed by rising powers, they do have a special obligation to demonstrate in concrete ways that they are going to pursue a constructive path.”

Clinton’s statement shows just how paranoid the U.S. government is of China.  But, oh well, surveys show many of the citizens of the U.S. are also paranoid of China!  This new international lending agreement with the BRICS will only prove to the paranoids that they are justified in their fear.

 

 

 

Business/Economics, International, Technology, U.S.

Global Economic War: Apple now takes the Chinese Yuan, over the U.S. Dollar. Chinese buyers dominate the internet!

“The service has been there since last Friday. It’s really good news for our customers and local application developers.”-Apple China statement

California based Apple Incorporated decided to accept the Chinese yuan (aka Renminbi, or RMB) in an unannounced move last week. One reason is that China is now the world’s biggest internet market!!!

The App Store will now accept yuan credit and debit cards issued by more than 20 Chinese banks.  Another reason for the move is that many Chinese customers using credit and debit cards issued from outside China, were getting their info ripped off.

Apple’s fiscal 4th quarter revenues from China hit $4.5 billion. Their U.S. operations had more revenue, but revenue from China is growing so fast it will soon pass up the revenues made in the U.S.

Business/Economics, International, U.S.

Global Economic War: Chinese Yuan could replace the U.S. Dollar within 10 years

“Chinese financial authorities are laying the groundwork for these ambitions via a series of bilateral arrangements with foreign companies and financial centers. While dollar denominated financial markets retain a substantial advantage over their RMB denominated counterparts in terms of new issuances, the RMB markets have made remarkable progress in less than one year.”-U.S.-China Economic and Security Review Commission

RMB; aka renminbi, aka yuan.

“Chinese economic dominance is more imminent and more broad-based, encompassing output, trade and currency, than is currently recognized. By 2030, this dominance could resemble that of the United States in the 1970s and the United Kingdom around 1870.  And this economic dominance will in turn elevate the renminbi to premier reserve currency status much sooner than currently expected.”-Arvind Subramanian, economist