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If you’re bearish like me, you may have found yourself wondering earlier in the week: How the hell did Intel report results that good? Intel is not a company that juices quarterly results (cough, GE, cough) – so the odds are they really did sell as many chips as advertised. But how? Is the green […]
On Sunday, Guo Shuqing, a top Chinese Banker, suggested the US and World Bank sell bonds denominated in Chinese yuan. “I think the U.S. government and the World Bank can consider the possibility of issuing renminbi bonds in the Hong Kong market and the Shanghai market,” he said. The clamor by China for a diversification […]
US Treasury Secretary Tim Geithner visited Beijing on Monday…with a straight face, he reassured the Chinese government that its large holding of dollar assets are safe. Then, still deadpanning, Geithner reaffirmed his faith in a strong US currency. That broke the ice, as his student audience burst our into large laughter. See if you can […]
On Friday, China admitted to something it’s long been suspected of – secretly stockpiling gold. Of the countries that disclose their gold holdings, China is now ranked fifth in the world, ahead of the Swiss, the former beacon of a solid currency. Since 2003, China has increased it’s gold holdings by 75%. Over the same […]
BCA Research reports that China is gradually moving its foreign reserves out of US assets, estimating that China currently has about 64% of its reserves in US assets, down from a high of 84% in 2003. BCA’s report also breaks down the types of US assets the Chinese have been purchasing, which recently has been […]
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