Courtesy of JB.
A step forward for the Yuan is a step backwards for the USD.
China Central Bank Pushes For Cross-Border RMB Use
January 6, 2018
The People’s Bank of China on Friday said that it encouraged cross-border and overseas use of the renminbi (RMB) currency to settle accounts and boost investment.
It acknowledged that Chinese banks have been looking to trade in offshore RMB and that there was a growing need for foreign-funded companies in China to be able to transfer investment revenue overseas.
“Enterprises may use RMB for cross-border settlement in whatever foreign currency-based trade,” the PBOC said.
The central bank’s announcement comes part and parcel of the Beijing government’s efforts to increase foreign investment in China and facilitate ease of doing business there for domestic and foreign enterprises.
This would also work to support the extensive and increasing Chinese investments abroad.
This has led to the most prominent Chinese banks to expand their business and trade in major world currencies abroad.
Courtesy of Garrett.
Bitcoins and Monkeys
… and EASY MONEY
It appears safe to say that the market has finally become quite easy to analyze. Let’s face it … it is so darn simple, in fact, that
hordes of people who have little to no knowledge of the market are getting it right … and many of them have been getting it right
for quite a while. Ironically, a lot of long tenured; seasoned; and knowledgeable professionals have not been getting it right …
and many of those have been missing the boat for quite some time. Maybe some of you remember that Bernard Baruch sold out
of the market in 1928. The young bucks of that day said it was too hot in the kitchen for old Bernie. Leading into 2000, just about
everyone knew that Warren Buffett was not in any technology stocks. Just like in 1929, those ‘twenty-something’ guys knew that
old Warren just wasn’t with it enough to get behind those tech stocks. Around that same time there were stories of doctors and
lawyers who were making so much money in the stock market that they dropped out of their professions in favor of the ‘easy
money’ in the stock market. Nowadays we are once again in fortunate times. It’s just too darn easy. There is no thinking required
… why waste the time in having a plan? You don’t need one. Discipline? What’s that? Just BUY! Don’t be an idiot … if you
hesitate, someone else is getting the easy money that could be yours. All the guys on the financial TV shows are telling you …
JUST BUY! The talk show hosts are telling you … your barber is telling you … the guy who fixes the cracks in your driveway knows
… the president is telling you … past presidents are telling you … dead presidents will tell you if you walk by the graveyard at
midnight. C’mon man!