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Gates Says Bet On Yuan As IMF Calls Currency Fairly Valued
We’ve talked extensively about China’s currency conundrum which has put Beijing between a rock and a hard place as it seeks to combat rapidly decelerating economic growth (which, according to some estimates, is running as low as 3.8%). Facing rising capital outflows (totalling $300 billion over the past four quarters alone) on the one hand and falling exports on the other, there appears to be no ‘right’ answer, as devaluing the yuan to prop up exports risks throwing gasoline on the capital outflow fire, but failing to devalue in the face of a dramatic slowdown in the export-driven economy may ultimately prove to be completely untenable. This is all complicated by recent strength in the dollar and perpetual pressure on the euro and yen exerted by the potent one-two monetary insanity punch from the Draghi-Kuroda tag team. Meanwhile, China is keen to give the yuan a more prominent role in the global economy via the AIIB and Silk Road Fund and is also pushing for SDR inclusion by the end of the year.
Against this backdrop, the IMF is out suggesting that the currency — which, as we have noted on multiple occasions over the past several months, has appreciated to the tune of 14% on a REER basis in the last 12 or so months — is closing in on being fairly valued. Predictably, Washington does not agree. Here’s more from WSJ:
The International Monetary Fund is close to declaring China’s yuan fairly valued for the first time in more than a decade, a milestone in the country’s efforts to open its economy that would blunt U.S. criticism of Beijing’s currency policy.
The fund’s reassessment of the yuan—set to be made official in IMF reports on China’s economy due out in the coming months—follows years of IMF censure of Beijing’s management of the currency.
The IMF’s latest view undermines the Obama administration’s pressure on China over its management of the currency and could undercut congressional efforts to inject yuan concerns into pending trade legislation.
“It takes the rug out from under the feet of U.S. critics of Chinese currency policy,” saidEswar Prasad, a Cornell University economist and former China official at the IMF. “The U.S. relied to a significant extent on what was seen as the IMF’s objective assessment.”
The Obama administration disagrees with the IMF, maintaining a view that the yuan, also called renminbi, remains “significantly undervalued.”
The shift at the IMF comes as Beijing is increasingly challenging the established global order. In recent months, China has won broad support for its new Asian Infrastructure Investment Bank, an entity that would rival the World Bank, the IMF’s sister institution. China is also pushing plans to create a modern “Silk Road” by better connecting its economy with those in the rest of Asia, the Middle East, Africa and Europe. Chinese officials have asked the IMF to include the yuan in the elite basket of currencies that comprise the fund’s emergency-lending reserves, a decision the fund will consider later this year.
The yuan is roughly pegged to the dollar, and as the U.S. currency has appreciated against most other major currencies, it has helped push up the value of the yuan. In nominal terms, the yuan’s appreciation has leveled off. But accounting for inflation, the value of the currency has risen by more than 10% in the past year alone.
As China’s economy cools, some economists don’t rule out Beijing depreciating the yuan again to help juice exports and prop up its expansion.
Here’s a bit of color from Barclays on what SDR inclusion means for Beijing in terms of flexibility to devalue...
On a fundamental basis, the case can be made that China’s “reluctant easing” should include a more significant move in the currency, but our view is that, ahead of the SDR review later this year, China will refrain from devaluing the CNY and even from moving USDCNY fixings notably higher. Such moves might not be welcomed by China’s major trade partners, who might be inclined to see it as currency manipulation.
...and here's a look at the yuan's rising importance in global trade...
What the above underscores is that although Beijing faces some tough choices in terms of whether or not China will eventually be forced, by slumping economic growth, to devalue, the evidence continues to mount that the yuan will play an increasingly important role in the world economy going forward, an eventuality that try as it may, the US will not be able to head off by branding the country a "currency manipulator."
And meanwhile...
- BILL GATES SAYS `PROBABLY WOULD PICK' CHINESE CURRENCY: CNBC
- GATES SAYS HE LOVES DOLLAR, WOULD PUT HIS BET ON YUAN
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fuck you gates
Well, Bill Gates' first bet is on tetanus vaccine that makes poor women sterile.
China is betting on gold, but they may not prop up the Yuan/Renmenbi with it.
He would bet on Juan, as he's one of those open border progressive freaks.
and that cancer molecule they now even talk about on tv show plotlines.
Right, because Gates has been so right about technology that we should listen to his currency calls lol?
What did he say, the most memory anyone would ever need in their lives was 2kB?
And that the Internet is a passing fad.
IOW, LOLcats got him twice.
If I would follow Gates, I would have to invest in Correction Corp. of America.
No thanks!!!
Apparently being a 0.000000000001% 'er makes you an expert on currencies, pharmacology, zoology, biology, sociology, climatology, environmental science, everything else.
No, unfortunately it gives them the insight and the power to influence it...
"I am not gonna give my kids fucking jack shit (in dollars) when I die! So no one in america ought to either as we should ditch inheritance for Americans all together! The government needs y'all's money!" ~ Bill Gates
(Under the breath- since with my wealth I won't use the U.S. inheritance tax to pass on to my off spring goodies from the grave).
lol you'e so gullible
you actually believe that?
the guy made billions off tech, look at his actions, not his words -- his words were just marketing to manipulate people
Bill Gates didn't make jack shit himself... he is a front for the IBM/Rockefeller Eugenics Complex. Daddy Gates was an exterminist who came out of Army Intelligence and was put in charge of global Planned Parenthood. The Globalist Psychopaths appreciated Daddy Gates so much they set his kid up at Microsoft because in the old days IBM was still weary of anti-trust actions against them controlling both the hardware and software. Bill Gates is a gopher for the global exterminists. He is a front man. All his money along with Warren Buffet's goes to sterilizing, brain damaging, and destroying the health of the people of the world. He buys his phony pr... The little prick should be charged, tried, convicted for mass murder and publicly executed by being hung by the neck from a rope.
with a capital F
You hate him for his BO?
jobs all gone
gates windows and back door all open.
is it not funny how these vampyre live long
and yet talk so much about populations and your
murder by injection
The Fed, the IMF, the World Bank and America's oligarchs are one:
“Third World countries including the whole of Africa have incurred trillions of dollars in debts through loans contracted from the World Bank, IMF and Western governments which the people who now wallow in utter poverty, never benefited. Most of these conditional loans were either stolen or used to service debts already owned by these poor countries. Part of the loans were also used to pay foreign expatriates supplied to the poor countries by IMF, World Bank as ´technical experts´ but whose contribution is the result of poverty seen in the third world. Again the loans were used to prop up corrupt regimes who diverted the funds to their private bank accounts in Switzerland, France, Britain, Liechtenstein and Luxembourg and Austria among others.
“In 2006 for example, developing countries owed $3.7-trillion in odious debt, servicing more than $570-billion per annum. An analysis by economist James Henry revealed that more than $1-trillion worth of loans ‘disappeared into corruption-ridden projects or was simply stolen outright.’ Out of this debt Africa owes $200 billion and uses $14 billion annually to service it, money that could be used to provide education, healthcare other basic needs for the people. The over $200 billion that African countries owe to foreign creditors represents a crippling load that undermines economic and social progress. The all Africa Churches Conference says this debt and its servicing represent ‘a new form of slavery, as vicious as the slave trade.’”
--Lord Aikins Adusei, IMF and World Bank: Agents of Poverty or Partners of Development?, 30 May 2009
http://www.modernghana.com/newsp/219270/1/pagenum2/imf-and-world-bank-agents-of-poverty-or-partners-o.html#continue
Since 1960 £380 billion has been stolen from the people of Nigeria by their governments. These same people still owe the IMF, however, £48 billion.
Bill Gates wears makeup
Bill Gates? ... Oh, you mean that dandruff ridden loon who wants to inject babies with poisons that will leave them mentally impaired, physical weak and sterile.
he also have patent for ebola...
That's so he can hire them at cheaper than slave wages.
It's a push for greater diversity.
http://www.nydailynews.com/life-style/microsoft-hire-autistic-employees-article-1.2176054
What an obvious set up. An underhand lob from lagarde.
David Naughton - Makin' It
http://www.youtube.com/watch?v=F47AfASOnA8 (3:15)
Thread jacking.. 40 years since "scientists" blammed global cooling on the drought in Kalifornia
https://stevengoddard.wordpress.com/2015/05/03/40-years-since-climatolog...
Several years later, in 1975, a supercomputer named Cray-1 came around. It was a capable and awesome-looking piece of machinery that "flew" at a rate of 80MHz. While generally used for scientific projects, such as simulating the interaction of fluids, one of these bad boys helped render the CGI for the first Tron movie, released in 1982. But a Cray-1's raw computational power of 80 million floating-point operations per second (FLOPS) is laughable by today's standards; the graphics unit inside theiPhone 5s produces about 76.8 GFLOPS – nearly a thousand times more.
-----------------
Also, thankfully, RUSH isn't still writing stuff like "Hey Baby it's a quarter to eight, I feel I'm in the Mood..."
Like I give two shits about Gates or any of his ilk! WTF does "I love the dollar..." even mean? Nothing. Gates is the biggest tool on the planet.
Yuan under valued to the tune of more-gold-than-anyone-thinks? http://www.mineweb.com/news/gold/could-china-actually-have-30000-tonnes-of-gold-in-reserves/
The Shanghai Gold Exchange shows 8,696 Tonnes withdrawn since 2009...where, oh where, could it all be?
http://jessescrossroadscafe.blogspot.com/search/label/Shanghai Gold Exchange
Good thing they postponed that SDR meeting... wouldn't do much for IMF "legitimacy" if they were letting accused currency manipulators into the club...
In Griffin’s powerful book, The Creature from Jekyll Island, he explains the route the IMF money takes. Originating from the Fed printing press, it goes directly to the IMF and proceeds to the bankrupted and bank- indebted nation whose politicians, taking their cut, then pay through their local banks to the big New York banks to prevent their possible bankruptcy or reduction in profits from the bad loans.
All paid for by the American taxpayers.
Ron Paul in "Repeal, Don't Reform The IMF" earlier this year issued this warning: "By taking money from American taxpayers to support economically weak and oftentimes corrupt governments, the IMF distorts the market, enriches corrupt governments, and harms both the American taxpayer and the residents of the counties receiving IMF 'aid.' It is past time to end the IMF along with all instruments of American interventionist foreign policy."
http://www.zerohedge.com/news/2015-03-30/repeal-dont-reform-imf-ron-paul-rages
This is all BULLSHIT until the Yuan is allowed to float on the world's currency markets...
Yuan inclusion is what's going to help end said floating currency markets. They are the future of the NWO.
Along with kicking Gates out of the country, how about moving enemy organizations such as the IMF out of the country?
Headquarters 1 (HQ1):
International Monetary Fund, 700 19th Street, N.W., Washington, D.C. 20431
Headquarters 2 (HQ2):
International Monetary Fund, 1900 Pennsylvania Ave NW, Washington, DC, 20431
I wouldnt be holding my breath when it comes to the Yaun. They still have a shitload of printing to do, an army to build and a middle class (to hollow out). Who really wants to have global currency anyways? It usually comes with the destruction of the manufacturing base/economy, don't think China is ready for that.
Bill Gates might not be betting on the dollar but he bets on the U.S. Marines saving his empire if it runs into trouble. Perhaps this citizen of the world would be happier betting on the army of the People’s Republic of China for his protection and his profits. And perhaps the headquarters and the imported staff of Microsoft should be moved from Seattle to Beijing which is more in keeping with the kind of patriotism Gates exhibits.
America’s manufacturing base, America’s workers and America’s future and her freedoms would be more secure without Bill Gates.
What freedoms? To comment on a blog under an alias in case someone we know, an employer, reads our views.
Ever live in a place with an HOA? They fine you for leaving your garage door open longer than 15 minutes.
What about carrying around 10 grand in cash, rightfully yours, but enough for the cops to seize it as it looks 'suspicious'.
Try selling a cigarette in NYC and they come down on you and choke you to death, or get killed for running away after a cops sees you.
Why does the USA have more people in jail per capita than most all other nations on this planet? Are you overrun with serial killers, rapists and thieves?
Why does the USA invade countries it does not like. I did not see the tanks stop at the border in Iraq and ask permission to enter did you?
Let us not get into your CIA secret prison and torture facilities.
Freedom in the USA is just another joke.
At the present time, Cherry Picker, no one on the planet doubts that America has greater freedom than other countries, notwithstanding the growing exceptions. The problem here with our freedom is where we’re headed - straight for the kind of society that is ruled by the Chinese dictators.
Fortunately we have a chance to save America from that fate and the widespread ownership of guns in this country is a key factor. When the Bundy situation began to develop in Arizona many patriots, armed, headed for the Bundy Ranch and after some confrontation government agents backed away. Why? Because they feared the beginning of revolution. And it is this fear - if not eventually the actual revolution - that will secure the kind of liberty envisioned by the Founders.
I was preparing to join the resistance at the Bundy Ranch when it was resolved. I expect you were, too, Cherry Picker.
Americans must….will fight for their country. The shape of the enemy is now known to anyone who wants to see it. It is the international bankers headquartered at the Fed.
You sound like a guy with no passport.
Sadly the omens for America's future and her freedoms are ill-favored. Just as some nations are on the hook to the IMF for their past profligacy, America herself is on the hook to Fate for all her slaughterings from Vietnam to Donbas.
i guess there's no vaccine for stupid
slobber, drool
If you ask Bill, I'm sure he has something for that or at least to stop those from reproducing.
GATES SAYS HE LOVES VACCINES
Bill Gates Admits Vaccines Are Used for Human Depopulation
http://www.youtube.com/watch?v=6WQtRI7A064 (3:43)
No other financial organization has affected the lives of the majority of the world’s population more profoundly over the past fifty years than the International Monetary Fund (IMF). Since its inception after World War II, it has expanded its sphere of influence to the remotest corners of the earth. Its membership currently includes 188 countries on five continents.
Ernst Wolff, author of Pillaging the World. The History and Politics of the IMF, writes:
In pursuing its objectives, the IMF never resorts to the use of weapons or soldiers. It simply applies the mechanisms of capitalism, specifically those of credit. Its strategy is as simple as it is effective: When a country runs into financial difficulties, the IMF steps in and provides support in the form of loans. In return, it demands the enforcement of measures that serve to ensure the country’s solvency in order to enable it to repay these loans.
Because of its global status as “lender of last resort” governments usually have no choice but to accept the IMF’s offer and submit to its terms – thus getting caught in a web of debt, which they, as a result of interest, compound interest and principal, get deeper and deeper entangled in. The resulting strain on the state budget and the domestic economy inevitably leads to a deterioration of their financial situation, which the IMF in turn uses as a pretext for demanding ever new concessions in the form of “austerity programs”.
The consequences are disastrous for the ordinary people of the countries affected (which are mostly low-income) because their governments all follow the same pattern, passing the effects of austerity on to wage earners and the poor.
In this manner, IMF programs have cost millions of people their jobs, denied them access to adequate health care, functioning educational systems and decent housing. They have rendered their food unaffordable, increased homelessness, robbed old people of the fruits of life-long work, favored the spread of diseases, reduced life expectancy and increased infant mortality.
At the other end of the social scale, however, the policies of the IMF have helped a tiny layer of ultra-rich increase their vast fortunes even in times of crisis. Its measures have contributed decisively to the fact that global inequality has assumed historically unprecedented levels. The income difference between a sun king and a beggar at the end of the Middle Ages pales compared to the difference between a hedge fund manager and a social welfare recipient of today. ….
Although these facts are universally known and hundreds of thousands have protested the effects of its measures in past decades, often risking their lives, the IMF tenaciously clings on to its strategy. Despite all criticism and despite the strikingly detrimental consequences of its actions, it still enjoys the unconditional support of the governments of all leading industrial nations.
Why? How can it be that an organization that causes such immense human suffering around the globe continues to act with impunity and with the backing of the most powerful forces of our time? In whose interest does the IMF work? Who benefits from its actions?
It is the purpose of this book to answer these questions. … Read more…
http://www.globalresearch.ca/pillaging-the-world-the-history-and-politics-of-the-imf/5420397
Is the dollar up on "exit," or "strength?"
Liberty is a demand. Tyranny is submission.
gates wants all of you goy to eat drink swim and piss monsanto product.
then when you get ill take his zombie vaccines.
come on goy ebola rocknrolla so gates can make another glaxo smithklein bayer billion.
if he does a real good job with vaccines and war the planet will be so happy with you non jewishers gone.
The guy that makes hard drives for a living can't even to think to invest in gold. Jeesh.
Jack Burton just gave this current case-in-point of IMF operations – in Kiev – on an earlier ZH article:
The IMF has little time for Greece now days, as the IMF has taken on another bigger job at the behest of Washington DC. The Kiev Junta installed by an American Coup in Kiev is bankrupt, broke and penniless. With GDP falling at over 20% annual rate and the need to reconquer territories where the people have openly revolted against the new Kiev Junta, the IMF is the one and only real financial backer of the Junta. Billions of IMF funds are being used to buy arms, mercenaries, tanks, planes, IFV, missiles and small arms. yet this is a stop gap, only enough to fund an all out offensive in June. In the long run, the IMF will need several hundred billion dollars to keep the Junta in power as there is no tax revenue and no economy. Greece is an after thought when the IMF has wars to fund. The Trokia will be setting up shop in Kiev, cutting wages, slashing pensions, closing schools and hopitals, firing tens of thousands of workers, while demanding more work at lower wages and longer hours. The Troika will repeat the Greece and Portugal scenario, where all those in the bottom 90% are slashed to the bone. Guess what Ukraine? The Troika is in town, so is the draft board looking for soldiers 16-60, needed to fight Washington's conquest of the Donbas. (emphasis mine)
Billy the Geek is a twice convicted monopolist and serial intellectual property thief. Thanks to open source software and Linux I have avoided Billy the Geek and his companies trap$, NSA back doors and his poorly written virus ridden software. I will ignore what ever he says and deal in facts, not opinions.
Gates loves Eugenics and hates America.
He still has his vendeta against the people for the last time we had him on the stand. This attempt to destroy the dollar and starve the country into complete starvation is treasonous and the criminal wanted for tax evasion of a trillion in back taxes and loans owed, makes this criminal bigger than worldcom enron gates madoff.
Fuck that Criminal Golbalist Eliteist Eugenics POS. Hope to see him in his Bunker in HELL.
it"s common knowledge
It follows, therefore, that in a brain dead world, the race with the largest braincase will have a more acceptable GDP (3.8%) than everybody else.
sorry Whities. you'll get over it.
The anthropology departments of American universities are an arm of America’s “Diversity” propaganda.
Kevin MacDonald's The Culture of Critique reviewed by Stanley Hornbeck (excerpt):
“Prof. Kevin MacDonald traces the development of this diversity strategy to several sources. It is widely recognized that the German-Jewish immigrant Franz Boas (1858-1942) almost single-handedly established the current contours of anthropology, ridding it of all biological explanations for differences in human culture or behavior. Prof. MacDonald reports that he and his followers -- with the notable exceptions of Margaret Mead and Ruth Benedict -- were all Jews with strong Jewish identities: ‘Jewish identification and the pursuit of perceived Jewish interests, particularly in advocating an ideology of cultural pluralism as a model for Western societies, has been the 'invisible subject' of American anthropology.’"
By 1915, Boas and his students controlled the American Anthropological Association and by 1926 they headed every major American university anthropology department. From this position of dominance they promoted the idea that race and biology are trivial matters, and that environment counts for everything. They completely recast anthropology so as to provide intellectual support for open immigration, integration, and miscegenation. They also laid the foundation for the idea that because all races have the same potential, the failures of non-whites must be blamed exclusively on white oppression. The ultimate conclusion of Boasian anthropology was that since environment accounts for all human differences, every inequality in achievement can be eliminated by changing the environment. This has been the justification for enormous and wasteful government intervention programs….
While the Boas school was promoting integration and racial equivalence, it was also critical of, in Prof. MacDonald's words, "American culture as overly homogeneous, hypocritical, emotionally and aesthetically repressive (especially with regard to sexuality). Central to this program was creating ethnographies of idyllic [Third-World] cultures that were free of the negatively perceived traits that were attributed to Western culture."
The Role of the anthropologist became one of criticizing everything about Western society while glorifying everything primitive. Prof. MacDonald notes that Boasian portrayals of non-Western peoples deliberately ignored barbarism and cruelty or simply attributed it to contamination from the West. He sees this as a deliberate attempt to undermine the confidence of Western societies and to make them permeable to Third World influences and people. Today, this view is enshrined in the dogma that America must remain open to immigration because immigrants bring spirit and energy that natives somehow lack. ...
http://web.csulb.edu/~kmacd/review-AR.html
The only thing I can say is that the Montagu results were hated by white Americans. He came up with his 'theory' in the 1950s.
It was essential for the patriots who promote Creationism and hate Darwin, and otherwise adore their white Americaness that the Montagu study be proved wrong. The government funded one that did. It was called:
This is it's main point:
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC3361742/
The Methods/participants section as to how they got their subjects was very amusing.
But the study did what it was supposed to.
Instead of this he-said she-said research, an easier method to compare races, in my opinion, is to compare the fruits of their cultures and you be the judge. In my opinion, the product of intelligence isn’t determined by multiple choice on a piece of paper, it’s determined by what you produce.
No doubt you are right.
As long as there's a level playing field.
Perhaps you heard Yundi Li playing Chopin (the first piano concerto is at 28:47) when he won the 14th international Chopin Competition in Warsaw in 2000.
https://www.youtube.com/watch?v=yo82ipPkTRY
The 50 years from the end of the Century of Humiliation to Yundi Li's performance in Warsaw might be considered an excessively long absence of production.
But when did all the Steinways and master teachers show up in Beijing to teach the young Chinese how to play Western music?
good thing all the Asian hotties are like, "where all the white guys at" when they get to the USA... a couple of generations of yellow fever will take care of that difference in short order
How much Gold do they have!
<-- Bill Gates
<-- Tyler
If you had a 1:1, whose investment advice would you take?
<-- Bill Gates is not an American/US Patriot, Probably Mafia
<-- Bill Gates should be Exiled/Jailed, Prosecuted as Racketeer
Just think Bill is equal to Organized Criminals in VICHY DC and VICHY Wall Street.
I'm surprised at the stats. But then I'm surprised that the AUD and the CHF are used more than the CAD, given that both have smaller economies than Canada.
Clearly this is Mass-psychology, Confidence and Custom at work. As is money laundering: AUD and CHF.
That's weird. I've got a big bet with a Chinese Bookie that Bill will eat his first Grandchild at Buffett's 90th! And, you guessed it, it's in Yuan! Pays 1.5 to 1!
Because USA and China are not both equally totally infected with debt cancer.
So nice to see that it is almost unanimous that gates needs to be put to death asap.
Sounds like Gates is talking his book and exiting China.