zugzwang Posted January 23, 2016 Share Posted January 23, 2016 (edited) 'Leatherface' Lagarde and 'Oaf' Kuroda now calling on China to impose capital controls. Keynesian dunces attempting to quarantine Chinese deflation? http://www.bloomberg.com/news/articles/2016-01-23/kuroda-advises-china-to-impose-capital-controls-to-defend-yuan Bank of Japan Governor Haruhiko Kuroda said China should impose capital controls to defend the yuan rather than keep burning through currency reserves. As he and other international policy makers expressed confidence that the world’s second largest economy will avoid a hard landing, Kuroda made his proposal on the final day of the World Economic Forum’s annual meeting in Davos, Switzerland. China is struggling to hold up the yuan as a slowing economy forces it to loosen monetary policy and prompts capital to flee. It now faces questions from investors over just how long it can keep deploying reserves to calm the yuan’s volatility. “This is my personal view, and it may not be shared by the Chinese authorities, but in this kind of somewhat contradictory situation capital controls could be useful to manage the exchange rate as regards domestic monetary policy in a consistent and appropriate way,” Kuroda said on Saturday. Deploying ReservesChina is burning through its reserves as it tries to prop up the currency. China’s stockpile plunged $513 billion last year to $3.33 trillion, the first annual decline since 1992 and the holdings will drop to $3 trillion or less by the end of this year, according to the median of 12 forecasts in a Bloomberg News survey this month. They were projected to tumble further, to $2.66 trillion by the end of next year. “The massive use of reserves would not be a particularly good idea,” said International Monetary Fund Managing Director Christine Lagarde, who suggested China better clarify how it manages the yuan. Edited January 23, 2016 by zugzwang Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted January 23, 2016 Share Posted January 23, 2016 Capital controls in China? I thought China was the saviour of the world? Quote Link to comment Share on other sites More sharing options...
Errol Posted January 23, 2016 Share Posted January 23, 2016 They won't do what the West wants. Quote Link to comment Share on other sites More sharing options...
suntory Posted January 23, 2016 Author Share Posted January 23, 2016 (edited) They won't do what the West wants. Am I right in thinking that China wants to devalue to make exports more competitive and the West wants the Chinese to keep the current peg because they don't want the Chinese to export deflation? Is that about right? Edited January 23, 2016 by suntory Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted January 23, 2016 Share Posted January 23, 2016 Am I right in thinking that China wants to devalue to make exports more competitive and the West wants the Chinese to keep the current peg because they don't want the Chinese to export deflation? Is that about right? All depends on how much sway the Davos elite have over the Chinese visitors. I long for these global crooks to be consumed by the fires of Armegeddon, and roasted eternally while their skin is peeled off by Satan's army of demons. Just saying. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted January 23, 2016 Share Posted January 23, 2016 Am I right in thinking that China wants to devalue to make exports more competitive and the West wants the Chinese to keep the current peg because they don't want the Chinese to export deflation? Is that about right? The Keynesian dunces were demanding full convertibility last year, now they've all got the fear. Osborne and Carney, in particular, one suspects. Given that UK banks are holding 28% of Chinese overseas loans (according to the BIS). Quote Link to comment Share on other sites More sharing options...
Snugglybear Posted January 24, 2016 Share Posted January 24, 2016 BBC website, business section "Profit warnings reach highest level since recession - report" http://www.bbc.co.uk/news/business-35394180 Quote Link to comment Share on other sites More sharing options...
stormymonday_2011 Posted January 24, 2016 Share Posted January 24, 2016 The Keynesian dunces were demanding full convertibility last year, now they've all got the fear. Osborne and Carney, in particular, one suspects. Given that UK banks are holding 28% of Chinese overseas loans (according to the BIS). Osborne's China Put about to go bad ? http://www.itv.com/news/2016-01-22/has-osborne-made-a-bad-bet-on-china/ Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted January 24, 2016 Share Posted January 24, 2016 Output in China grew by 6.9% in 2015, compared with 7.3% the year before - its slowest growth in a quarter of a century. - Got to love how they make such a huge deal out of 0.4% !!!! Those figures are entirely made up I assure you. GDP growth is, at most, half that figure. These figures come from a government that censors its citizens' internet access. Do you really think they'd tell the truth? Quote Link to comment Share on other sites More sharing options...
fluteroop Posted January 24, 2016 Share Posted January 24, 2016 At some point, the block chain of lies will fail. A company can't talk its liabilities away and neither can a debtor Quote Link to comment Share on other sites More sharing options...
chronyx Posted January 24, 2016 Share Posted January 24, 2016 These figures come from a government that censors its citizens' internet access. Chronyx thinks this is a great idea. Chronyx wants to know why you support cyber bullying and virtual pimping. Chronyx hopes you live in interesting times. Message ends. Quote Link to comment Share on other sites More sharing options...
Maximus Skepticus Posted January 24, 2016 Share Posted January 24, 2016 Those figures are entirely made up I assure you. GDP growth is, at most, half that figure. These figures come from a government that censors its citizens' internet access. Do you really think they'd tell the truth? Comparing two fabricated numbers, is more belivable than one made up number... The whole thing is a joke....the US went through some pain, the UK didnt..it will....this isn't finished by far, and is currently unravelling. Zero% interest rates are paying a lot of wages in central London, nothing bad can happen...until it does. Looking forward the zombies being shot in the head (this year). Then we can all breath. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted January 24, 2016 Share Posted January 24, 2016 I hope it will just be a plain old vanilla recession, and a housing bust. But if central banks have truely used up all their ammo, then it could be a full blown depression, I don't fancy going to war to destroy excess capacity to start inflation and halt the deflation spiral. I also don't fancy the bail-ins, currency trashing, cash banning and everything else we are about to see. I only want the good bits HPC and purge of zombies, but I expect we will get a hazardous mix of events and reactions some we will hate some love. not long to wait to find out now. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted January 24, 2016 Share Posted January 24, 2016 I hope it will just be a plain old vanilla recession, and a housing bust. But if central banks have truely used up all their ammo, then it could be a full blown depression, I don't fancy going to war to destroy excess capacity to start inflation and halt the deflation spiral. I also don't fancy the bail-ins, currency trashing, cash banning and everything else we are about to see. I only want the good bits HPC and purge of zombies, but I expect we will get a hazardous mix of events and reactions some we will hate some love. not long to wait to find out now. Have they used it all up ? .if you got to the bank looking to borrow money the interest rate you are likely to be paying bears no resemblance to the BOE`s base rate Its just a case of how much control do the CBs have over the retail lenders i guess, Quote Link to comment Share on other sites More sharing options...
Silverfinger Posted January 25, 2016 Share Posted January 25, 2016 Have they used it all up ? .if you got to the bank looking to borrow money the interest rate you are likely to be paying bears no resemblance to the BOE`s base rate Its just a case of how much control do the CBs have over the retail lenders i guess, The helicopters have only hit the banks so far. Once they drop it on Joe Sixpack you know the end is nigh. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 25, 2016 Share Posted January 25, 2016 The helicopters have only hit the banks so far. Once they drop it on Joe Sixpack you know the end is nigh. Vote Corbyn, he will save us. Quote Link to comment Share on other sites More sharing options...
fluteroop Posted January 25, 2016 Share Posted January 25, 2016 Goldman Sachs 'backs pro-EU campaign' Posted at 20:44 Investment bank Goldman Sachs has reportedly given a "six figure" donation to the campaign to keep the UK in the European Union. The US bank is said to have given the money to Britain Stronger In Europe, a cross-party group which argues that the UK is better off in the EU. Britain Stronger In Europe said it would not confirm the donation which Sky News said was a "substantial" sum. Share this post Quote Link to comment Share on other sites More sharing options...
zugzwang Posted January 25, 2016 Share Posted January 25, 2016 Goldman Sachs 'backs pro-EU campaign' Posted at 20:44 Investment bank Goldman Sachs has reportedly given a "six figure" donation to the campaign to keep the UK in the European Union. The US bank is said to have given the money to Britain Stronger In Europe, a cross-party group which argues that the UK is better off in the EU. Britain Stronger In Europe said it would not confirm the donation which Sky News said was a "substantial" sum. Share this post If anyone is still harbouring doubts about what the 0.1% want viz. Europe then this information will surely dispel them. Know. Your. Enemy! Quote Link to comment Share on other sites More sharing options...
onlyme2 Posted January 25, 2016 Share Posted January 25, 2016 If anyone is still harbouring doubts about what the 0.1% want viz. Europe then this information will surely dispel them. Know. Your. Enemy! indeed, Supra-national authorities put interest and influence of the individual one level further away from them and one step nearer to those wishing to user power money and influence to further their agenda like Golden Scum. Quote Link to comment Share on other sites More sharing options...
billybong Posted January 25, 2016 Share Posted January 25, 2016 (edited) If anyone is still harbouring doubts about what the 0.1% want viz. Europe then this information will surely dispel them. Know. Your. Enemy! There was always going to be plenty of funding for the IN vote and the 1%'s position has been fairly clear what with the CBI constantly going on about it apparently being entirely a good thing and not seeing any disadvantages including any disadvantages staring them in the face and damaging ordinary people's lives. It's good to see GS coming out and displaying their position - it also helps to explain their actioins in loading countries down with excess debt in the past which weakened sovereign countries level of independence come the crash. Seeing as so many UK politicians are always looking towards the trough rather than the people they're supposed to represent it explains why so many of them are on the side of the likes of GS and in favour of the eu however undemocratic and crazy it turns out to be. Edited January 25, 2016 by billybong Quote Link to comment Share on other sites More sharing options...
winkie Posted January 25, 2016 Share Posted January 25, 2016 Quote Link to comment Share on other sites More sharing options...
Vigilante1 Posted January 25, 2016 Share Posted January 25, 2016 I would be astounded if anyone could fake a monster storm.... so I think it is real Quote Link to comment Share on other sites More sharing options...
Fully Detached Posted January 25, 2016 Share Posted January 25, 2016 Quite clearly these weapons are available and currently being used against the UK in an attempt to depress us all to death. Quote Link to comment Share on other sites More sharing options...
winkie Posted January 25, 2016 Share Posted January 25, 2016 Breaking news......Strong Earthquake Strikes Mediterranean. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 25, 2016 Share Posted January 25, 2016 Breaking news......Strong Earthquake Strikes Mediterranean. What will be blamed on that ? I thought about buying a holiday home in south Spain in 2002 till I realized it was right in the middle of an earth quake zone. I thought, their must be a reason why millions of Spaniards dont build houses here Quote Link to comment Share on other sites More sharing options...
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