This page has been archived and commenting is disabled.
The Chinese Buy Billboards Announcing The Renminbi As "The New World Currency"
Submitted by Simon Black via Sovereign Man blog,
When I arrived to Bangkok the other day, coming down the motorway from the airport I saw a huge billboard - and it floored me.
The billboard was from the Bank of China. It said: “RMB: New Choice; The World Currency”
Given that the Bank of China is more than 70% owned by the government of the People’s Republic of China, I find this very significant.
It means that China is literally advertising its currency overseas, and it’s making sure that everyone landing at one of the world’s busiest airports sees it. They know that the future belongs to them and they’re flaunting it.
And it’s true. The renminbi’s importance in global trade and as a reserve currency is increasing exponentially, with renminbi trading hubs popping up all over the world, from Singapore to London to Luxembourg to Frankfurt to Toronto.
Multinational companies such as McDonald’s are now issuing bonds in renminbi, and even sovereign governments are issuing debt denominated in renminbi, including the UK.
Almost every major global player out there, be it governments or major multinationals, is positioning itself for the renminbi to become the dominant reserve currency.
But here’s the thing. Nothing goes up and down in a straight line. And China is in deep trouble right now. The economy is slowing down and the enormous debt bubble is starting to burst.
A lot of people, including the richest man in Asia, are starting to move their money out of the country.
So while the long-term trend is pretty clear – China becoming the dominant economic and financial superpower – the short-term is going to look incredibly rocky.
We talk about this in today’s short podcast with Sovereign Man’s Chief Investment Strategist, Tim Staermose, which includes a few ways to actually make money from China’s short-term unwinding.
Click image below for detailed podcast...
»
- 48275 reads
- Printer-friendly version
- Send to friend
- advertisements -
Check Mate.... Mr. Dollar
What a crock of shit.
The only thing more soaked with formaldehyde than the Chinese Paper Fiat is Simon Black, con man extraordinaire, himself.
A central bank is a central bank is a central bank.
Whether it's in China or the US, or Japan. They are all going away.
The US dollar is backed by oil, as the petroleum nations demand payment in USD alone. Until something changes in this monopoly, the USD is not merely a fiat currency and people should understand that.
Of course this is purelky arbitrary and could change over night, unlike dollars that are redeemable in gold or silver.
So what is China backing the Renminbi with?? Advertising?
Oil cannot back a currency directly as the average Joe cannot and would not want to exchange his dollars for barrels of oil. Can you see a bank with barrels of oil outside ready to be exchanged? But I do agree that oil has pushed back the day of reckoning for the USD. But it will come and be a doozy.
Time for China to print Yuan to fund basic income for everyone.
I for one welcome our new Chinese overlords.
Sure, why not? Let's all be bazillionaires;)
The World Currency..... which is pegged to the dollar. Zzzzzzzzz.
...... which is pegged to the printer.....which is pegged to the MIC.....mmmmmm
"When I arrived in Bangkok the other day..."
I fucking stopped there... Maybe Simon is right though, because if I moved to Thailand, I could probably get somebody to clean up my barf for cheap after reading these pulpit sermons.
...... which is pegged to the printer.....which is controlled by The Chosen People with dual citizenship.
We.Are.Fucked.
China announces the new World Currency in Thailand with posters printed in English?
Am I the only one who notices the irony of this?
Looks more like a gold coin playing the part of the sun at the top of the pyramid with that big circle of an eye along with it.
If I apply for dual citizenship, will they let me create hollow start ups and funnel millions into my pocket too?
China is number one globaly since mid 2005. Check the USD/CNY chart
http://i.imgur.com/lE5DD9R.png
If I apply for dual citizenship, will they let me create hollow start ups and funnel millions into my pocket too?
Chinese food is awesome, and the women are very beautiful. The men folk seem wound up too tight, but with a little rock n' roll and a few lefties it might work
http://www.ibtimes.com/russia-egypt-may-exclude-us-dollar-use-national-c...
Putin needs more camels?
Yah-dincha hear? Obam "trade-sanctioned" his Marlboros....
They have nice skin and, for the most part, are not land whales. They got no titties and no ass to smack around. I'll keep my caucasians, thank you. Agree about the food and the need for lefties.
live in china. most of them have acne, no tits, no ass, long torsos with short legs, ridiculous bush, an entitled attitude thanks to the one child policy, and spreak engrish rike dis.
I find them to just be rude in general. Appearances are not static, nor are they universal.
Violent little things.
soooo. . . .
What's the downside?
Chinese women are horny all the time. American women are horny until they have kids, then they turn into pigs.
How do you speak chinese? You flatulent, furry ameritard.
arbiitrary is an imaginative way to describe killing iraqi and Libyan leaders who suggest oil backed by anything else.
Arbitrary is also an odd way to label the US who will soon learn that you can not exponentially expand your military, your enemies and your debt forever
It is said that 90% of the USD value is the US military. Which explains the reason petroleum nations stick to the USD. As China ans Russia challenge US authority and military power, the more credible the threat, the more the petroleum nations will feel the pressure to diversify, or get out of the USD standard altogether. Once two sides can play the bomb you at will game, it is over for the US.
The US dollar is backed by the US military.
Right, the metal backing the USD is battleship grey steel.
...some would say plutonium.
They are backing it with 300Million empty Housing units!
I guess the Chinese are on a gold buying spree and hoarding it because they like the color, I am sure they have no intention of backing their currency with it.
China should unpeg the Renminbi or else shut the fuck up.
They're waiting for the "opportune time," i.e. when the IMF is ready.
http://bis.org/review/r090402c.pdf
Read the policy papers from PBOC and the BIS, which tell you clearly that the post-Dollar world is going to be yet another globalist screwjob with a fresh coat of Chinese gold paint, or shut the fuck up.
Jesus fucking Christ, can people even think for themselves anymore, or is parroting alt-media memes all you ignorant shits are good for these days? This place used to have a plethora of independent researchers in the comment sections, now it's a community of regurgitators.
Yes but do not presume that YOU will be able to redeem any RMB you may hold for gold. Even under the Bretton Woods standard, peasants could not exchange their dollars for gold, only the central banks had the freedom to do that.
I don't understand why Russia sells oil by dollars, they should be first to kick FED in ass and sell oil/gas using Renminb. What interest does Russia has to keep US economy running. US is official enemy after all, why Russia is helping them.
Depends. If you spend that dollar immediately (to buy gold, for instance), then its not really an issue.
And it keeps the whole charade going, while you accumulate all the world's gold at manipulated bargain-basement prices.
Not much incentive to rock that particular boat. Or if you do, do it very gently. Why fight a giant when he is busy destroying himself?
So what is China backing the Renminbi with?? Advertising?
G O L D is what they are backing it with,,,,,NOT PRINTING MACHINES!
The billboard implies gold.
The dollar and any other fiat is backed by enslaving its population of serfs. Oil or anything else is just a conduit. But it takes the labor of the serfs to make it happen. That includes gold. Someone has to mine it just like someone has to extract oil.
And as for the military backing a currency, where does the military get its financial support? From the taxation of the labor of us serfs.
Thus again, it always comes down to us serfs that pay for everything.
Unless one of them is backed by the barbarous relic. And us smart guys know which one that is, don't we boys and girls?
Whatever.
Shouldn't they cut their apron strings to the dollar BEFORE claiming to be the world champions?
Look, if the RNB was going to be the new world currency, they wouldn't need to *sell* the idea with a billboard. Guess the RNB longs will be the new bagholders somehow?
which points do you disagree with?
A central bank is a central bank is a central bank.
Whether it's in China or the US, or Japan. They are all going away.
Fantasy thinking. They aren't going away. More then likely, millions of serfs are going away in WWIII while the bankers go on. History repeats.
Hey, buddy, wanna buy a watch?
What kind of moron would down vote what you said?
Well, I made the mistake of listening to the Podcast. Simon sez to short the CNY all the way.
So which is it: a short or the next reserve currency?
Or both maybe? I'm confused.
If you listened to Simon Sez,
no wonder you are confused.
Why the pyramid under the gold coin. Why does there always have to be a fucking pyramid!
It's the Rothschild pyramid . . .
The big triangle that supports all fiat currencies.
are you joking, or you really can't tell that's just part of a building in front of the billboard?
KING LOLlar, sir!
I hate the USD and ALL FIAT TOILET PAPER, but every time the world goes apeshit, there's a tsunami of monkey-hammering USD buying, and that trend is strengthening, if anything.
Simon Black's on the DeNial River, drunk on Pina Coladas, again, in some AIDS infested, backwater, living like a King among Paupers.
re: in some AIDS infested, backwater
I would not characterized Bangkok in those words, it being one of the great cross roads of this planet!
I wasn't referring to Bangkok in my post, though I wasn't clear.
I was referring to the myriad of third world swamps, alleys & ditches - where westerners of any stripe would be targeted & gutted in a heartbeat- that "Simon Black," aka "Sovereign Man," claims to post his regular tripe from.
Simon Black is conducting a seminar on "How to go Sovereign" at the Venezuelan Hilton Garden Inn, in Caracas. Free Danish & coffee.
Or if y'all rich and shit, you can join him at a White House dinner for fancy peepool.
Right now, the rest of the world is outprinting us or is getting ready to outprint us. When QEULTRA™ hits, that may change.
You trade marked that. Nice!
I completely agree with you. My contention is that the dollar will be one of the last currencies to collapse as it is the dollar that gives any other currency value, much like bitcoin and all the other coin dervitaves, bitcoin is what gives all other named coins value.
It's 1am, the bar is closing and the USD is the least ugly girl in the room. Some choice...
Vineyard of the Saker White Paper: the China-Russia Double Helix
http://thesaker.is/vineyard-of-the-saker-white-paper-the-china-russia-double-helix/
The US Dollar is the greatest print campaign in the history of advertising.
So do our Jews all learn to speak Mandarin now or what?
A troll you are
and an asshole 2.
andyermuthaisawhore
Follow the money. When Jews begin to emigrate to China in large numbers, then it's over for the US of Israel.
ICBC: A New Global Currency Setup Is Being Conceived https://www.bullionstar.com/blogs/koos-jansen/icbc-new-global-currency-s...
Cool ! Competition is the essence of progress...
Agreed. Please tell that to every government agency and employee you encounter.
Strange for an export economy. What would happen to their economy if the world really did accept it as the reserve currency?
The last thing China wants is a strong currency.
They're the world's largest exporter with a GDP AND GNP that's derived, as a higher % of total economic output, from EXPORTS, than any other major nation.
As it is, they're already in deep shit. Let their currency appreciate, and the Jade Revolution is very much back on the table, and their regime knows it.
There's a reason why export-dependent nations such as Japan are in a race to debase.
The U.S. for many years after WWII was the worlds largest exporter in practically every category.
As far as I know, the strength of the currency did not affect those exports. The idea that a "strengthening currency" is bad for exports is status quo propaganda in my opinion.
The status quo as it is today likes to keep prices at bare minimum for exports of anything except paper promises by the U.S. and its allies.
It was a different world at that point. For many years after WWII, the rest of the world was in utter ruins. The US manufactured a funny little status quo wherein it was pretty much the only real option.
+1 a vastly underappreciated point
They could start selling houses to each other and financing pimped out Escalades?
It's worked for 15 yrs. over here, that and whataburgers. - also genius men at apple making sleek handsets with more features nobody needs.
The billboard is promoting the RMB as the world currency, not a reserve currency. There's a difference.
That important catch that you made doesn't fit Simon Black's narrative.
Like "The Economist" cover, there may be more to these posters than we think, or at least notice on first glance. Notice the "Gold" coloured coin. Chosen for a reason - maybe to pave the way for the next "announcement" . . . . . .
On the poster, it eally does look like gold currency - wondering how it is valued on the face. As far as 'reserve' goes, if it's gold, it's reserve quality. Treasury stuff.
The larger issue is: What's a single Gold Yuan worth and how much does it weigh in what purity. China government has purchased a lot of gold. They also have a tremendous number of people that wish to buy gold as it appears to be in their future.
Asia commerce in the past depended on the silver trade dollar for many years. Bi-metalism is not dead, just hiding in the background awaiting the passage of time and death of the modern greenback dollar.
Did not take a lot of time for the old (1800s) greenback to die and disappear - a matter of months, I believe.
When the elevation to reserve currency takes place, the Chinese economy will take off, just like the USA did a hundred years ago. IMHO, what Chinese leaders have planned is a sharp correction in the markets, all of them, followed by (economic) revolution using the available manufacturing infrastructure to make domestic consumption porducts with expensive exports for wallyworld.
Don't need the U$A, not even the military for protection against terrorists.
Oh, wait ...
Well thats not good! Coming to a theatre near YOU-
China National anthem Chinese & English lyrics
http://www.youtube.com/watch?v=UctriMuXYS0 (1:27)
Q: What's BACKING IT?
"Full Faith" once again, or some REAL forking ASSETS, the way it used to be?
China has been increasing it's gold reserves at a hectic pace for years now. USA has been..........well, just ask the Germans.
Remember that nebulous gold holdings number?
But....but.....'King LOLlar'!
China now on the axis of evil.
" In the financial crisis of 2008 and its aftermath, China saw the United States as a failing system, its government unable to manage its politics or its economy, and vulnerable to being replaced as the world’s leader.
The deeper strategic challenge for the United States… is to deal with the more fundamental challenge to the global architecture of trade, law, and peaceful resolution of dispute that the United States and its allies created after World War II. China’s strategic rise to global power - patient, nuanced, and far-sighted - implicitly threatens all of this…. China’s strategy will be to seek structures and relationships that support its value of Communist Party rule and its declared policy of nonintervention in foreign states. The ascendancy of Chinese self-interest as an organizing principle would mean a fundamental weakening of Western institutions, the rule of law, and other Western values, and perhaps their replacement with a more traditional, Beijing-centric approach.
Shanghai will [be] becoming increasingly powerful in global banking. US influence with the United Nations, the International Monetary Fund, and the world Bank may shrink in significance, increasingly reflecting China’s priorities and interests, or these institutions may be replaced by emerging institutions which more expressly recognize Chinese self-interest. "
— Don’t Wait for the Next War, General Wesley K. Clark, 2014
I agree with Wesley when he writes
"The ascendancy of Chinese self-interest as an organizing principle would mean a fundamental weakening of Western institutions, the rule of law, and other Western values, and perhaps their replacement with a more traditional, Beijing-centric approach."
Just look at what we have done to Western Institutions & the rule of law. In this century, we have wrecked both, and our "values" are a total joke. We have proven time and again we are litle better than our "enemies".
The Chinese have done more than that.....they are shacking up with everybody
China Creates Yuan Trading Center in Los Angeles
Canada Gets Yuan Trading-hub Status
"...with renminbi trading hubs popping up all over the world, from Singapore to London to Luxembourg to Frankfurt to Toronto."
Speaking of "The Way It Used To Be", here's an old crooner tune, that will be apt for the Dollar one day...
https://www.youtube.com/watch?v=RWhZKzjq--M
Lyrics (manipulated by fiat):
Lonely fiat table just for one
In a bright and crowded room
While the music has begun
I drink to memories in the gloom
Though the music's still the same
It has a bittersweet refrain
So play the song the way it used to be
Before she left and changed it all to sadness
And maybe if she's passing by the Window
She will hear our love song and the melody
And even if the words are not so tender
She will always remember the way it used to be
Banker friends stop by and say hello
They laugh and I hide the pain
It's quite easy till they go
Then the song begins again
Is that gold the hand is holding?
just like the picture of gold on the new $100 bill----pictures of gold----my first rememberd picture of gold was in a Donald Duck comic book
Tyler and ZH seem to be implying this is a good thing? But, isn't the narrative that all paper currencies are BS? Now it seems that a non-dollar paper currency controlled by an elitist, authroitarian regime is good, as long as it's, again implicitly, bad for America. Tyler: Isn't this a load of crap?
And anyway, if you've got to advertise to get people to use your paper money.... there are billboards for charmin too, but you don't see people using that to buy a latte at starbucks.
It's a Simon Black article, not an actual Tyler article.
I've reported on ZH, when Bitcoin was in full craze and ZHers were jumping on the bandwagon, about a perpetually-paid-for billboard in Santa Clara, CA which had been advertising the damn thing since it was unknown and only crusty 'miner' nerds bought into that shit.
http://i.imgur.com/YMqrrDJ.jpg
Totally agree with "If you gotta advertise...".
I think it's a load of truth. I've lived there, 2012-2013. The Chinese entrepreneurs I met, were relentless workers and savers.
Sometimes a weather forcast is loaded with nasty outcomes. But of course an Ostrich who lives his life with his head in the sand, never sees a weather forcast.
No, only USD, Yen and Euro, they're real stinkers because they're like totally indebted man.
But not this one!
The bullboard, sorry, billboard, reminds me of hand-flailing screaming desperation of a young woman swimming nude on a moonlit night towards a harbour bell.
HELP ME!! SOMEBODY! ... HEEEEELPP ME! ... PLEEEESE! HEL ..YURHAAARGGHHAHEEEEE!
Very soon some announcements.
No wonder Barry was bowing to the Chinese.
I wonder what currency they used to buy those billboards?
Kissinger: U.S. and China to Collaborate on Globalist “World Order”
http://www.infowars.com/kissinger-u-s-and-china-to-collaborate-on-global...
"Whatever the price of the Chinese revolution [an indirect reference to millions killed] , it has obviously succeeded not only in producing more efficient and dedicated administration, but also in fostering high morale and community of purpose… The social experiment in China under Chairman Mao’s leadership is one of the most important and successful in human history," Rockefeller wrote for the New York Times on August 10, 1973.
-1 for infowars link.
Coming soon, to a nation near you.
Isn't the renminbi still pegged to the US dollar?
Is it normal to have a reserve currency pegged to another country's currency?
/s/
Answer this question: Are the Chinese serious about this?
If you can answer that, you can tell whether or not that peg to the USD is going to stay.
They are serious but their actions are not.
Cannot have your cake and eat it too.
I'm pretty sure that top level communist party officials in China can have and eat anything they want.
the nerve. to think the same day ZH publishes: http://www.zerohedge.com/news/2015-03-04/china-blasts-obamas-paranoid-na...
arrogance. cant wait to safeguard my CASH BALANCE left over from all my Ag/Au purchases (about $16 bucks n change) and buy renminbi
such arrogance
Paper currency can work if the issuing authority does not abuse the privelage and print more than the true supported value of the society.
And the country which proves that is?
Great news for Gold......
Just when do you expect to see
the effect of this great news on Gold ?
Inquiring minds want to know when.
"In the Chinese oligarchy we trust."
The whole Syria proxy war is dirty. She had proof and they killed her.
New Anonymous op as White House still ignores murder of American reporter Serena Shim in Turkey
and b/c everything about Israel is a war crime...
UN Chief: Israel may have purposely targeted UN base in Lebanon, killing Spanish soldier – VIDEO
While China has been around for a very long time in comparison to the USA, the consistently troubled history of China and consistent repression of its people will make it very difficult for China to become the worlds reserve currency. A reserve currency must also be a safe harbor, China has a long, long way to go in order to hit that mark.
Under Communism, every man has what he needs. That's why the butcher puts up a sign that says " nobody needs meat today ".
Sometimes my girlfriend puts that same sign up...
Who do they think they are?!
Old Yella and her gaggle of bankers ain't going to like this.
Who says they aren't setting it up?
And that is why China keeps buying all that dirt cheap gold that the banksters keep manipulating lower.
They will have a currency that is backed by real assets!
Sun Tzu... classic
If you need to put up bilboards claiming you're the new global currency then you're not the new global currency.
Chinese bankers trying to trick people into giving them there $ for soon to be worthess chinese paper.
Paper isn't worthless.
It does have some calorific value.
Update on the I-95 gold heist.
http://www.wcvb.com/news/4-million-in-gold-stolen-from-truck-in-north-ca...
RALEIGH, N.C. —Shortly after dusk along a lonely stretch of Interstate 95, armed robbers hijacked an armored truck, tied up the two guards and disappeared into the night with 275 pounds of gold bars.
The guards working for Transvalue Inc. of Miami reported pulling off to the side of the interstate about 6:30 p.m. Sunday after their vehicle began having mechanical problems in eastern North Carolina, according to the Wilson County Sheriff's Office.
Watch report
The guards told police they were surprised by three armed men driving a white van who ordered the guards to lie on the ground, tied their hands behind their backs and then marched them into nearby woods.
The robbers then helped themselves to barrels filled with about $4.8 million in gold before making their getaway. Transvalue said its employees were not injured during the heist.
Transvalue chief executive officer Jay Rodriguez said the truck carrying the gold bars left Miami about 4 a.m. Sunday. The load was headed to Attleboro, Massachusetts, a town south of Boston nicknamed "Jewelry City" for the large number of manufacturers based there.
However, a source told NewsCenter 5 that the destination was Bridgewater, Mass.
---------
I was right about Bridgewater in a previous post.
---------
Now add this:
http://boston.cbslocal.com/2015/03/04/inside-job-suspected-after-4-milli...
WILSON, N.C. (AP) — A search warrant suggests that investigators suspected a multimillion-dollar gold heist from an armored truck was an inside job, though a sheriff said Wednesday that the two guards are not currently considered suspects.
The warrant was written in a hurry before the two guards, who spoke little English, could be thoroughly interviewed in Spanish, Wilson County Sheriff Calvin Woodard said Wednesday during a news conference.
The search warrant, which seeks permission to search the cellphone of the truck’s passenger, details the account of the two men in the armored truck. The driver pulled over on the side of Interstate 95 on Sunday when his passenger smelled gas and began to feel sick.
Then, three men pulled up in a white minivan, armed with handguns, and bound both the driver and passenger. Both men were ordered to go into nearby woods.
The three men then opened the trailer and took out five buckets’ holding 275 pounds in gold bars, valued at about $4.8 million. The suspects tried to steal the truck but couldn’t get it started, even though it was in good working condition.
About $5 million in silver was left on the truck.
“There is suspicion at this time that this could be an inside job due to the circumstances of the robbery,” the warrant reads. “The fact that the truck was robbed immediately upon it pulling over at an unannounced stop is suspicious in and of itself. It is also suspicious because there are no markings on the side of the truck that would indicate the type of cargo contained therein.”
The guards — working for Transvalue Inc. of Miami — were not injured. The truck had left Miami, bound for a town south of Boston in Massachusetts.
=============
They spoke little english and needed an interpreter. Then get this, a mechanic found the truck was in perfect working order... I am pissing myself learning of this as most trucks have a key AND A STARTER BUTTON, you need to turn the key on and then press the button! This is so amaturish I can visualize beavis and butthead as the perps!
Flashback" another heist...
Multi-million gold heist from boat in Caribbean - Telegraph
www.telegraph.co.uk/news/worldnews/centralamericaandthecaribbean/9715842....
4 days ago ... Armed men dressed as police boarded a fishing boat Friday in Curaçao and stole about 70 gold bars worth an estimated $11.5 million (£7.2
Multi-million gold heist from Curacao boat
www.usatoday.com/story/news/world/2012/11/30/curacao-gold-heist/1738409/
4 days ago ... WILLEMSTAD, Curacao (AP) — Masked men in jackets emblazoned with the word 'police' boarded a fishing boat Friday in Curacao and stole
Then there are always the brilliant bandits who never learned how to drive a standard transmission (or the retards who can't even start a diesel with a choke)...
If the shit does hit the fan, there will be some hilarious moments providing much needed comic relief for the rest of us in Dante's inferno.
They left $5mm in silver behind!
Here is my comment re: bridgewater.
http://www.zerohedge.com/news/2015-03-02/4-million-gold-bars-stolen-11th...
If you ever have watched Moonshiners and Gold Rush on Discovery, I would imagine that knowing who the ownership is, they are filming a new series.
Seems like a lot of trouble just to steal a barbarous relic.
The problem is with these kind of people. The gold may well be gone. The fall guy immigrant retardo guards will go to prison for this inside job, but who cares? It's like the subprime disaster, financial illiterates took mortgages that blew up then just handed in the keys while the losses were socialized. Even if they had been left on the hook, they would just have gone back to their country. Who is handing out all this responsibility to incompetents that have not much to lose? Or should the question be, why are so many people here with nothing much to lose?
I hope it was real Americans who ripped off the wetbacks.
I am sure their children that they relocate to other shores have their accounts stuffed with the motherland's currency.
I am not good at math, please help me out here....
((Russian resources + China manufacturing) + ((Russian nukes + China nukes) + 100 million man army) x (Russian gold + China gold) x (Brazil + India + South Africa) ^ (Putin+Jinping)) = ?
= Over population in China. Written by, We Fucm Young. Or could be, funny trails in the sand by, China Pecker Dragon....
Although, I may be off. Little help here?
Total photoshop propaganda bullshit.
Photoshop? The picture makes me miss Thailand...
Lord Rotchild is foaming at the lips.
LOLOLOL>>>.....
The dollar may still be king for now... but this really is saying that things are a changin...
If your fiat is the world's currency, you don't have to advertise it.
In re: "Given that the Bank of China is more than 70% owned by the government of the People's Republic of China ..."
Who owns the other 30%?
Goldman Sachs!
when the Renminbi takes over it will
be the 'Year of the Monkey Hammer'
Yellin's gonna love that eggroll up her snatch.
Hey there... a little respect for eggrolls please...
More like tuna salad with extra mayo.
I think I've seen that advert or one very similar to it on a pamphlet almost 9 years ago when the CNY was floated. "RMB: World currency", as in exchangeable at a bureau de change, not "Reserve currency". :). Somebody out there might remember this as well?
Baloney. India is the next power. Plus it has the most gold to back its currency in private hands. INdian economy is knowledge driven and will suddenly rocket in 10 years. Population too is growing plus infrastructure, so no longer it will be people like cattle, but productive.
"Population too is growing plus infrastructure, so no longer it will be people like cattle, but productive."
A growing population is not a good thing. Jobs are shrinking and extra people will just be a burden.