Posts Tagged ‘currency’


Nu au trecut mai mult de 2-3 ani de cand politicieni si analisti celebrii de prin toata lumea ne spuneau cu mare emfaza ca vremea occidentului, in frunte cu SUA a apus, si ca noile puteri economice si politice care se intrevedeau la orizont – Brazilia, Rusia, India si China, denumite generic BRIC, vor conduce si domina lumea.

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Who would have thought a decade ago that Brazil would now be one of the highest-­cost countries for manufacturing—or that Mexico could be cheaper than China? While London remains one of the priciest places in the world to live and visit, the UK has become the lowest-cost manufacturer in Western Europe. Costs in Russia and much of Eastern Europe have risen to near parity with the U.S.

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Friday 03:05 BST. Asian markets were generally higher following a strong Wall Street session buoyed by corporate earnings, with Japanese stocks brushing off figures showing a fall in inflation.
The Nikkei 225 rose 0.6 per cent while the broader Topix gained 0.4 per cent. Hong Kong’s Hang Seng Index and the Shanghai Composite each gained 0.2 per cent. In Australia, however, the S&P/ASX 200 dropped 0.3 per cent.

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Rusia lucreaza la un proiect de lege prin care sa interzica cetatenilor sai mai detina dolari americani – moneda pe cale de disparitie a decadentei Americi – tara al carei sistem financiar, se afla pe marginea prapastiei. Scopul declarat al legii este protectia populatiei! Dar interdictia nu este valabila pentru institutiile statului ….

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In ultimii ani, China a devenit unul dintre cei mai importanti jucatori (daca nu chiar cel mai important !) de pe piata globala a aurului. Achizitiile masive de aur ale Chinei, dublate de achizitii deasemeni semnificative facute de entitati publice ale altor state considerate economii emergente (precum Rusia, Brazilia, India, Iran, etc – care au insa in comun si faptul – mult mai important – ca pun la indoiala stabilitatea sistemului financiar global bazat excesiv pe monedele marilor puteri occidentale traditionale, si faptul ca sunt contestatari majori ai politicilor hegemonice ale occidentului in plan financiar-monetar global) … sunt rezultatul gandirii unor “minti luminate” si sunt considerate de unii analisti ca semnale ale unei potentiale amenintari majore pentru civilizatia cladita pe valorile si sistemele occidentale. Si asta pentru ca scindarea sistemului financiar global in doua (occident vs emergente) si o rivalitate intre acestea este vazuta ca o amenintare pentru marile puteri occidentale … Cine sunt oamenii care se afla asadar in spatele politicilor Chinei cu privire la gestionarea relatiei dintre sistemul financiar si aur … mai jos:

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Today’s aggressive intervention by various monetary authorities to prevent the Swiss Franc from trading anywhere close to its fair value (yes “intervention”, the same that happens each day in other capital markets, like stocks and commodities, read gold) reminded us once again that it is always and only a central planner’s world.

Source: http://www.zerohedge.com

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“In other words, successful domestically-orientated policy in Japan will have second-round effects that will induce further policy easing [in] Europe. And a good kick in the pants in Europe is exactly what we need right now. Rather than thinking about Japan’s policy as triggering “competitive devaluations”, think of it as triggering “coordinating global easing” …. oare????

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The latest (apparently) “sky is falling” event for the U.S. dollar is a plan to make the Chinese yuan and Australian dollar freely convertible into each other. BUT:

– the Chinese yuan is a long way from being convertible across the board because chinese exporters who receive U.S. dollars are forced to turn them over to the central bank. (This is how China built its $3 trillion in reserves.) Citizens can’t take it out of the country. The yuan is not accepted as legal tender anywhere outside of China.

– it will be a long, long time before China allows its currency to freely float, because its whole system is built on tightly controlling its value. If the yuan strengthened 10% in six months, millions of exporters already on razor-thin margins would go bust.

– it would also be a volatile currency because of the economies that are dependent on so many commodities.

– in addition, China’s weaknesses as a global safe haven are glaringly obvious. Two examples should suffice: all of its strategic industries are firmly in state hands; its judicial system is anything but independent.

– then there is significant political risk. China’s decision-making process is anything but transparent.

– in addition, its more aggressive posture on regarding territorial disputes with Japan and some Southeast Asian nations is also a bit disquieting.

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The euro’s challenge to the international status of the US dollar has been set back a generation as new data show developing countries dumping the European currency from their official reserves.

Central banks in developing countries sold €45bn of euros in 2012, according to data compiled by the International Monetary Fund, cutting their holdings of the currency by 8 per cent.

Euros now make up only 24 per cent of their reserves, the lowest since 2002, and down from a peak of 31 per cent as recently as 2009. The dollar has held steady at about 60 per cent.

Developing countries have shifted instead into other currencies such as Australian dollars and those of fellow emerging markets. The euro’s share of total global reserves has also fallen.

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Africa, Asia, the Middle East and Latin American are tipped to drive growth in retail foreign exchange volumes, according to results of an industry survey by trading technology vendor Integral, published on February 14

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