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China Wants the World's Reserve Currency

By Michael Pento – Re-Blogged From PentoPort

In the aftermath of WWII the American economy was that shining city on a hill. After saving mankind from the Nazi’s, America had the only intact manufacturing base and was the repository for most of the world’s gold. 733 more words

Monetary Policy

Foxconn and IDG Seeking $1.5 Billion for Car Tech Fund

(Source: www.bloomberg.com)

Foxconn Technology Group and venture firm IDG Capital are seeking to raise a 10 billion yuan ($1.5 billion) fund to seed startups in automotive technologies from self-driving AI to battery development, according to a presentation for investors. 472 more words

Market

Many ordinary folk praise Xi's policies

(Source: www.straitstimes.com)

Metres away from the giant portrait of former paramount leader Mao Zedong that watches over Tiananmen Square, retiree Tang Meiqin marvelled at how much the chairman’s latest successor has achieved in the last five years – enough, perhaps, to inspire a similar level of reverence. 440 more words

Current Affairs

The Death Of Petrodollars & The Coming Renaissance Of Macro Investing

The petrodollar system is being undermined by exponential growth in technology and shifting geopolitics. What comes next is a paradigm shift…

In the summer of 1974, Treasury Secretary William Simon traveled to Saudi Arabia and secretly struck a momentous deal with the kingdom. 1,817 more words

The Demise Of Dollar Diplomacy?

Pundits have been saying last rites for the dollar’s global dominance since the 1960s – that is, for more than half a century now. But the pundits may finally be right, because the greenback’s dominance has been sustained by geopolitical alliances that are now fraying badly.

Read Here – Project Syndicate

United States

China steps up war on poverty, though some still left behind

(Source: www.channelnewsasia.com)

Wang Qin, 59, collects scrap at a demolished residential district on the outskirts of Beijing, working 15 hours a day and struggling on her own to pay for her granddaughter’s education. 944 more words

Current Affairs

Rickards Warns "Prepare For A Chinese Maxi-Devaluation"

Authored by James Rickards

China is a relatively open economy; therefore it is subject to the impossible trinity.

China has also been attempting to do the impossible in recent years with predictable results. 1,020 more words