Tag Archives: china

China plans to create its own World Bank

China World Bank Yuan

China is moving forward with a plan to create its own version of the World Bank, which will rival institutions that are under the sway of the US and the West. The bank will start with $100 billion in capital. The Asian Infrastructure Investment Bank (AIIB) will extend China’s financial reach and compete not only with the World Bank, but ... Read More »

Central banks secretly invest $29 trillion to keep global markets from crashing

rising chart

Another conspiracy “theory” becomes conspiracy “fact” as The FT reports “a cluster of central banking investors has become major players on world equity markets.” The report, to be published this week by the Official Monetary and Financial Institutions Forum (OMFIF), confirms $29.1tn in market investments, held by 400 public sector institutions in 162 countries, which “could potentially contribute to overheated asset prices.” China’s State Administration ... Read More »

CIA and FBI agents ‘advising’ Ukraine government

Ukraine flag

Now that the situation in Ukraine has officially been upgraded to “war”, what really happens on the ground will remain largely wrapped by the fog of war on either side, with just one thing assured: a war it may be but more than anything it is a proxy war – one in which both western and Russian interests are manifest in ... Read More »

BRICS to create alternative to IMF and World Bank

BRICS leaders

The BRICS countries (Brazil, Russia, India, China and South Africa) have made significant progress in setting up structures that would serve as an alternative to the IMF and the World Bank (which are dominated by the U.S. and the EU), according to RBTH. As WSJ reports, the U.S. would lose its veto power on the International Monetary Fund’s executive board under a plan being ... Read More »

HSBC is broke; restricts large cash withdrawals

HSBC sign

Following research last week suggesting that HSBC has a major capital shortfall, the fact that several farmer’s co-ops were unable to pay back depositors in China, and, of course, the liquidity crisis in China itself, news from the BBC that HSBC is imposing restrictions on large cash withdrawals raising a number of red flags. The BBC reports that some HSBC ... Read More »

USD is dead: China caps its dollar holdings & plans crude oil futures priced in yuan

SHFE Shanghai Futures Exchange

China’s central bank has said it no longer sees any benefit in increasing its $3.66 trillion foreign currency reserves – already the world’s largest. China will cap its purchases of US dollars in an effort to limit the depreciation of the yuan. “It’s no longer in China’s favor to accumulate foreign-exchange reserves,” Bloomberg quoted Yi Gang, a deputy governor at the ... Read More »

$5 million worth of bitcoin vanish in China

China bitcoin

A Chinese bitcoin trading platform suddenly shut down and up to $5 million worth of bitcoin disappeared with it, a reminder of the great risk associated with the digital currency. Users were unable to log into the Chinese bitcoin platform Global Bond Limited (GBL) on October 26, and as much as $5 million (30 million yuan) has disappeared with it. ... Read More »

BRICS countries building new internet to avoid NSA spying

BRICS internet

BRICS countries are close to completing a brand new Internet backbone that would bypass the United States entirely and thereby protect both governments and citizens from NSA spying. In light of revelations that the National Security Agency hacked German Chancellor Angela Merkel’s phone, in addition to recording information about 124 billion phone calls during a 30-day period earlier this year, ... Read More »

Open letter to the World Gold Council – Billionaire Eric Sprott

eric sprott

Dear World Gold Council Executives; As you very well know, the business environment for gold producers has been extremely challenging over the past few years. While demand for physical gold remains extremely strong, prices on the COMEX have fallen precipitously. This contradictory situation is the single most important obstacle to a healthy gold mining industry. In my opinion, the massive ... Read More »