China Launches Yuan Gold Fix To “Exert More Control Over Price Of Gold”

Overnight a historic event took place when China, the world’s top gold consumer, launched a yuan-denominated gold benchmark as had been previewed here previously, in what Reuters dubbed “an ambitious step to exert more control over the pricing of the metal and boost its influence in the global bullion market.” Considering the now officially-confirmed rigging of the gold and silver fix courtesy of last week’s Deutsche Bank settlement, this is hardly bad news and may finally lead to some rigging cartel and central bank-free price discovery. Or it may not, because China would enjoy nothing more than continuing to accumulate gold at lower prices. The first Chinese benchmark price, derived from a 1 kg-contract traded by 18 participants on the Shanghai Gold Exchange (SGE),was set at 256.92 yuan ($39.69) per gram on Tuesday, equivalent to $1,234.50/ounce. China’s gold benchmark is the culmination of efforts by China over the last […] Read More

US to slap Chinese ‘cyber-plunderers’ with economic sanctions

The US is to impose economic sanctions against Chinese companies and individuals they believe to have profited from cyber espionage against America, reports the Washington Post. The sanctions may come shortly after China’s President Xi Jinping’s visit next month. The sanctions are reportedly being prepared under an authority issued by President Barack Obama in an April executive order that allows asset freeze and block of trade interactions with perpetrators of cyber espionage. “It sends a signal to Beijing that the administration is going to start fighting back on economic espionage, and it sends a signal to the private sector that we’re on your team. It tells China, enough is enough,” a US government official told the newspaper. The US Department of State has neither confirmed nor denied that the sanctions are being planned. “I can’t say anything about the sanctions,” State Department spokesman Mark Toner said, adding that “the […] Read More

The Biggest Reason Why China Is Finished

When discussing the rise and fall of any civilization, most armchair historians are quick to point out the numerous factors that contribute to the growth of a nation. They like to cite things like technological progress, law and order, the arts, economic prosperity, and military prowess. However, they tend to overlook one major factor that makes everything possible. That is the people themselves, and the demographic trends that make them successful. If you examine history, you’ll find that the peak of any advanced civilization often coincides with population growth, especially if that growth is disproportionately higher than neighboring civilizations. The economic competitiveness of a nation is directly related to the percentage of their population that is of working age; so if the population explodes and those people have plenty of economic opportunities, that nation will be incredibly successful. However, that success is often stunted the moment a nation’s population […] Read More

“Threat of 3rd World War Real” – Billionaire Soros Warns Currency War With China Could Go Hot

This article was written by Paul Joseph Watson and first appeared at PrisonPlanet.com. Editor’s Note: Behind the saber rattling here, is the very real importance of the acceptance of China as a major economic player who must be recognized officially and given credibility along with the American, Anglo, European and Japanese partners to avoid an alignment with Russia, and the BRICS nations that would undermine the Western world. China basically has two dance partners, and sees the promise of a better global hand regardless of how Ukraine plays out or Cold War tensions resurface. Hence, China’s yuan will be made part of the IMF global basket of currencies, despite American annoyance over ‘currency manipulation’ and the launch of China’s Asian Infrastructure Investment Bank (AIIB). Here billionaire George Soros – who has played instigators and puppeteer to color revolutions dating to the decline and fall of the Soviet Union to the […] Read More

This October The World Will Change: “China Is Preparing For Something Big”

“China… across the board… is preparing for something big in currency markets.” (Video Via Future Money Trends) This October may see the beginning of the end for the U.S. dollar as the world’s reserve currency. Twice every decade the International Monetary Fund meets to discuss their Special Drawing Rights (SDR) currency basket. Currently comprised of the dollar, Japanese Yen, British Pound and Euro, if China has their way a few months from now, we may well see the Chinese Yuan take its place among the world’s most trusted currencies. U.S. Treasury Secretary Jack Lew says, “China isn’t ready for currency reserve status,” and would certainly like to see the Chinese blocked from entry, preserving the dollar’s status as the world’s go-to currency and primary mechanism of exchange for global international trade. But while Lew and his predecessors have presided over the largest growth in national debt in world history, the […] Read More

China Is Creating a New Economic World Order Right Under the West’s Nose

Seen from the Chinese capital as the Year of the Sheep starts, the malaise affecting the West seems like a mirage in a galaxy far, far away. On the other hand, the China that surrounds you looks all too solid and nothing like the embattled nation you hear about in the Western media, with its falling industrial figures, its real estate bubble, and its looming environmental disasters. Prophecies of doom notwithstanding, as the dogs of austerity and war bark madly in the distance, the Chinese caravan passes by in what President Xi Jinping calls “new normal” mode. “Slower” economic activity still means a staggeringly impressive annual growth rate of 7 percent in what is now the globe’s leading economy. Internally, an immensely complex economic restructuring is underway as consumption overtakes investment as the main driver of economic development. At 46.7 percent of the gross domestic product (GDP), the service […] Read More