More Revolting against the $US

U.S. Dollar out of yet another Bilateral Sovereign Currency Swap Deal,
Another major step towards making the Yuan fully convertible globally within five years.
                                       PBOC Yuan
Stephen S. Roach, former Chairman of Morgan Stanley Asia and the firm’s chief economist, is a senior fellow at Yale University’s Jackson Institute of Global Affairs and a senior lecturer at Yale’s School of Management wrote;
The Federal Reserve continues to cling to a destabilizing and ineffective  strategy. By maintaining its policy of quantitative easing (QE) – which entails  monthly purchases of long-term assets worth $85 billion – the Fed is courting an  increasingly treacherous endgame at home and abroad….  Read more at Occupy QE

Draghi Reveals a Clever New Hedging Strategy 

“It is worth noting that the ECB and People’s Bank of China (PBoC) have agreed to establish a bilateral currency swap line that would facilitate euro/yuan transactions. Swap agreements such as these are aimed at minimizing outside impact and
hedging US dollar exposure.

This is a trend that we expect to grow in time, but in the near term, there’s no question that the US debt problems were a primary motivation for these two central banks’ initiation of the 350 billion yuan/45 billion euro swap.”
Kathy Lien of BK Asset Management.

More Press Release confirming the European Central Bank’s agreement with the (PBoC) People’s Bank of China to establish bilateral Euro-Yuan Currency Swap arrangements;

1 thought on “More Revolting against the $US

  1. Pingback: U.S. Credit Rating Downgraded to Same Level as Brazil? — State of Globe

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