Zeev's Turnips Patch-No Politics (ZEEV)

[fois gras]

Jim Sinclair in the category Jim's Mailbox | Print This Post | Email This Post
Jim,

Here we go. Watch the Chinese control the finance world.

Regards,
CIGA Luis Ahlborn Sequeira

China advocates Europe borrow in renminbi
By David Marsh, MarketWatch

BEIJING (MarketWatch) — In the wake of last week’s new deal on European debt, China is serving up a steely reminder to Europe: you may have to start borrowing in renminbi to gain a sympathetic hearing from the world’s largest creditor.

Already officially enshrined by U.S. Secretary of State Hillary Clinton as bankers to the world’s biggest debtor the Americans, the Chinese have no wish to become, too, a last-ditch lender to the Europeans. The idea of renminbi borrowing has been put forward by Beijing advisers and officials as a way of lowering Chinese foreign-exchange risks caused by further exposure to Europe — and also of using the Europeans’ latest discomfiture to advance China’s international monetary-policy agenda.

If this happened, it might pave the way for the U.S. Treasury eventually to issue renminbi-denominated paper — a momentous moment in world monetary history .

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