HSBC cutting 4,000 jobs as CEO makes shock exit https://www.straitstimes.com/busine...HDnavxhdG0tyvt_i-775Nm30aQmHmJhJPJP1PliJZfQpM
SNB Sight Deposits Hit Record, Suggesting FX Interventions By Catherine Bosley August 5, 2019, 4:53 PM GMT+8 https://www.bloomberg.com/news/arti...posits-hit-record-suggesting-fx-interventions The Swiss National Bank may have intervened to tame the franc’s rise, with record-high sight deposits pointing to currency market activity. The cash commercial banks hold with the central bank, which economists consider an early indicator of SNB moves in foreign exchange markets, climbed 0.3% from the previous week to 583 billion francs ($597 billion) as of Aug. 2, figures released on Monday showed. That’s the second consecutive sizable increase.
Yep, they'd had more problems (ie money laundering etc) than the Manson Family over the years. Just for giggles, after the DOJ cut them a deal in the mid 2000's for those activities, the then Dep Sec of the DOJ went on to their US board under a decade later.....and that was James Comey.
Goldman Sachs no longer expects US-China trade deal before 2020 election That is certainly going to help PM price escalation.
If China is a currency manipulator, what does that make the rest of us? For Trump to even say that as he oversees the biggest economic manipulations in human history and even claims personal credit for it shows his lack of understanding or sense.
I don’t really see much difference between current actions and the last 90 years. It is all shades of grey to me.
http://www.xinhuanet.com/english/20...phLi7TtGHFJdX3NDhRRwmhbH7P9Z6t9QaDvo_SGD7WsMk U.S. decision to label China currency manipulator totally wrong: China's central bank Source: Xinhua| 2019-08-07 10:25:27|Editor: huaxia The label not only violates the common sense of economics and international consensus but fails to meet the quantitative criteria for the so-called "currency manipulator" set by the U.S. Department of the Treasury, said Chen Yulu, deputy governor of the People's Bank of China. BEIJING, Aug. 7 (Xinhua) -- The U.S. Treasury's decision to label China "a currency manipulator" is totally wrong, a deputy central bank governor said Tuesday. The label not only violates the common sense of economics and international consensus but fails to meet the quantitative criteria for the so-called "currency manipulator" set by the U.S. Department of the Treasury, said Chen Yulu, deputy governor of the People's Bank of China (PBOC). China has never resorted to competitive devaluation and will not use currency as a tool for competition, according to Chen. During the 1997 Asian financial crisis and the 2008 global financial crisis, China was committed to keeping the currency stable, which contributed tremendously to the global economic recovery and stabilization of the international financial market, Chen said. Since China's currency reform in 2005, the yuan's nominal exchange rate and real exchange rate have appreciated around 40 percent. Meanwhile, the country's current account surplus declined to 0.4 percent of the GDP of 2018, down notably from 9.2 percent in 2005, he said. The yuan's depreciation since the beginning of August should be attributed to market fluctuations caused by the changes in global economic climate and escalation of trade frictions, Chen said, stressing that the devaluation, which is decided by market forces, is completely unrelated to so-called currency manipulation. The trade disputes provoked by the U.S. have triggered various fluctuations in the global financial market and at the same time brought volatility to both the U.S. financial market and the U.S. dollar index since 2018, Chen said. "We hope that the U.S. side should show respect for the truth and resolve the economic and trade disputes with China in a more reasonable and pragmatic way before it goes too far on the wrong path," he added.
Perhaps it's all very, very simple? I wonder how this plan works for developed countries? Buy up gold at a reasonable price, Force down the value of the US, AU and CNY dollar through economic games. Industry Issues commercial acceptance bills to each other in lue of payments, Dump the gold on the panicked market at its newly inflated price, Settle your debts. Kick the fiat down the road for another century.
how to pay and where to go and pick it up leaving trade war to enter stars war pick up https://www.facebook.com/video.php?v=375194479810401
This showdown between the US and China is inevitable. Trump is only bringing it forward before China is ready for it. China is trying to delay the showdown so that hopefully Trump loses the election and gets replaced by a Clinton and Biden which they can easily buy over using paid speeches and buy another 8 years by which China will be ready. Once China is ready, it will be the other way round, China can refuse to export to the US, no need tariffs by then. So no matter what happens, regardless who is the president, America's free lunch is coming to an end. Prices are going to rise.
We are basically placing sanctions on ourselves, in a roundabout way. The free lunch is soon over as you said. It's weird to compare the two like that but they line up perfectly almost and same outcomes. Interesting.
the manuver by China was easy swiff and affective Trump 10% tarrif on 300B countered by depreciated Yuan of 1.x%
"Worst Year Ever": China's Ban On US Ag Products Will Be A Death Blow For Countless Farms https://www.zerohedge.com/news/2019...g-products-will-be-death-blow-countless-farms with the bank loans, will farmers lose their farms ??? looks real bad, China import of US Agri products is going to ZERO
I can not believe how Trump would ask Europe to buy US farms produce, after they were lead to the slaughter houses for supporting Russian sanctions and in the process lost their farms and farmers literally slaughtered Pepe Escobar Yesterday at 7:47 AM · I AIN'T GONNA WORK ON MAGGIE'S FARM NO MORE The big story is not only that China just tweaked the yuan a little bit and sent Wall Street into a demented tailspin. The best part is the Ministry of Commerce spelling out on the record the response to Tariff Trump’s latest: the volume of Chinese companies buying US agricultural products will soon be ZERO. That is: products sold by Trump’s rural voters. Sun Tzu, baby.
ENTERTAINMENTCHINAEURASIA China Cannot Let The Crimes Against Humanity Go Unpunished, Bombs USA, UK, And France "Xi became president last night!" China discovers humanitarian bombing [satire] totally edited [Der Postillon is Germany’s best newspaper, the nation’s answer to The Onion in the US] Retribution for violations of Syria in violation of international law: China bombs US, UK, and France Washington, London, Paris (dpo) – Beijing cannot let this behavior go unpunished: Following the unlawful reprisals by the US, Britain and France against Syria, the Chinese military bombed several military targets in the US, Britain and France. There were several injuries in the three countries. Chinese President Xi Jinping today justified the initially limited attack at a press conference: “Today’s precision bombing of radar stations, missile sites, and military airports in the three countries is all about showing that violent attacks on other states have consequences.” Xi Jinping continued, “This should also discourage other countries from playing world police without a UN mandate and international accord.” China’s foremost talking head exclaimed “Xi became president last night!” On the question of whether the large-scale retaliatory action is contrary to international law, the Chinese government did not want to comment. “We have had to act to prevent this lawless behavior from repeating, and we are also prepared to continue that response until the three governments end international sanctions against other states.” In total, Chinese warships fired more than 100 missiles. At the same time Chengdu J20 fighter jets penetrated into the respective air spaces and launched rockets that struck, for example, the British Royal Air Force military air base. Chancellor Angela Merkel, who had previously ruled out German involvement in the bombing of the US, Britain, and France, praised China for its determined commitment. However, the Peruvian government has meanwhile announced that it will now bomb selected military targets within China as a punishment for China’s unlawful punishment of the US, Britain, and France for the illegal punishing of Syria by the US, Britain and France for the alleged Syrian poison gas attack in Duma.