Ein spannender Blick auf Zijin Mining (Seite 60)

[Goldbaba]

Antwort auf Beitrag Nr.: 46.747.981 von Goldbaba am 01.04.14 19:42:07

Chinas Staatspräsident Xi Jinping besuchte Berlin, während in London
ein "Stellvertreter" die Vereinbarung unterzeichnet.

London

Die Bank of England (BoE) hat eine Vereinbarung mit der People's Bank of China (PBoC) zum Clearing und Settlement von Yuan-Transaktionen in London unterzeichnet – drei Tage nach einer ähnlichen Absichtserklärung der Deutschen Bundesbank. Großbritannien wetteifert darum, Knotenpunkt für den Handel in der chinesischen Währung in Europa zu werden...

..Paris und Luxemburg bemühen sich ebenfalls darum, sich eine Scheibe von dem wachsenden Markt des Yuan-Handels abzuschneiden – während China seinen Kapitalmarkt öffnet und die Nutzung der Landeswährung für den internationalen Handel und Finanzierungen fördert.

http://www.handelsblatt.com/finanzen/boerse-maerkte/boerse-i…

[Goldbaba]

Dollar Hegemony Under Attack By Export-Superpowers Germany and China
March 30, 2014
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Source: Testosterone Pit

The word dollar didn’t even come up. “The volume of transactions that can be carried out in the Chinese currency in international and German financial centers is not commensurate with China’s importance in the global economy,” the Bundesbankexplained in its dry manner on Friday in Berlin, after signing a memorandum of understanding with the People’s Bank of China. President Xi Jinping and Chancellor Angela Merkel were looking on. It was serious business. Everyone knew what this was about. No one had to say it.

The agreement spelled out how the two central banks would cooperate on the clearing and settlement of payments denominated in renminbi – to get away from the dollar’s hegemony as payments currency and as reserve currency.

This wasn’t an agreement between China and a paper-shuffling financial center like Luxembourg or London, which are working on similar deals, but between two of the world’s largest exporters with a bilateral trade of nearly $200 billion in 2013. German corporations have invested heavily in China over the last 15 years. And recently, Chinese corporations, many of them at least partially state-owned, have started plowing their new money into Germany.

This “renminbi clearing solution” – the actual mechanism, clearing bank or clearing house, hasn’t been decided yet – will be an important step for China to internationalize the renminbi and ditch its reliance on the dollar. It will be located in Frankfurt; that the city is “home to two central banks,” Bundesbank Executive Board Member Joachim Nagel pointed out, made it “a particularly suitable location.”

As a world payments currency, the renminbi is still minuscule but growing in leaps and bounds: in February, customer initiated and institutional payments, inbound and outbound, denominated in RMB accounted for only 1.42% of all traffic, but it set a new record, according to SWIFT, the NSA-infiltrated, member-owned cooperative that connects over 10,000 banks, corporations, the NSA, and other intelligence agencies around the world.

Despite China’s heft as the second largest economy, the yuan was only in eighth place as payments currency, behind the Swiss franc. The dollar and the euro have been duking it out over the top spot. In February, the dollar accounted for 38.9% and the euro for 33.0% of all payments traffic. January last year, for example, the euro was in first place with a share of 40.2%, while the dollar only came up with 33.5%. As China moves away from the dollar, its share as payments currency will continue to drop.

And Merkel, whose job it had been to keep the Eurozone together by tightening duct tape and bailing wire around the necks of other countries, hasn’t forgotten: “We’re very thankful that China made efforts during the euro crisis to consider the euro a stable currency,” she said at the press conference. “China never questioned its trust in the euro, and I find that very important....”

Setting up Frankfurt as an offshore renminbi trading center has been in the works since 2012. A steering committee was set up in July 2013 that included the Economics Ministry of the state of Hesse, the Federal Finance Ministry, and the Bundesbank. In October 2013, the “RMB Initiative Group” – which included the four Chinese banks with a presence in Frankfurt, German financial services giants, and the Bundesbank – met for the first time. The working group that deals with the establishment of the RMB clearing solution is headed by the Bundesbank and counts SWIFT among its members. German corporations and trade associations all support the initiative.

It was “a major step forward in intensifying Germany’s economic relations with China,” said Bundesbank Executive Board Member Carl-Ludwig Thiele.

In its coverage of the event, state-owned Xinhua News Agency outlined China’s “three-pronged” strategy for promoting the internationalization of the RMB: “facilitating international trade and investment denominated and settled in RMB, encouraging offshore RMB service centers to develop offshore RMB-denominated financial products, and encouraging central banks to hold RMB assets as part of their foreign exchange reserves.”

A succinct definition of breaking the dollar’s hegemony as payments currency, investment currency, and reserve currency – China’s strategy since 2009.

At the time, the financial crisis in the US sent cold shivers down the spine of China’s government that until then had been sitting loosey-goosey on mountains of US paper that suddenly threatened to evaporate, such as Fannie Mae’s and Freddie Mac’s mortgage backed securities that China had somehow thought were worth something when in fact they were not – at least not until China applied enough pressure on the Bush Administration to guarantee them and on the Fed to buy them to inflate their value.

China got bailed out by the US taxpayer and the Fed, but the episode taught the government a lesson: dump the dollar. And so it went about it, carefully, systematically, step by step, but relentlessly, as Xinhua said, in a “multi-pronged” strategy that included making broad-ranging bilateral currency deals with one country at a time.

Compared to China, Russia is small fry in terms of trade and financial relations with the US. But it too has had it. The first official warning shot was fired before its all-out assault on the dollar system begins. Not by a Putin advisor that can be brushed off, but by Russia’s Minister of Economy and former Deputy Chairman of the Central Bank. A major escalation. Read.... Kremlin: If The US Tries To Hurt Russia’s Economy, Russia Will Target The Dollar

http://www.blacklistednews.com/Dollar_Hegemony_Under_Attack_…

[Goldbaba]

http://blogs.wsj.com/chinarealtime/2014/03/28/americans-must…

It won’t be long until the U.S. is eclipsed economically by China—and Americans need to start thinking about how to adjust to such a world.

That’s according to Federal Reserve Board of St. Louis President James Bullard, who spoke to the Wall Street Journal on the sidelines of a conference during a recent visit to Hong Kong.

“Attitudes in the U.S. are going to have to change, because the U.S. will not permanently be the global leader,” Mr. Bullard said.

China is already the largest economy in the world after the United States, and is growing much faster than the U.S. Not too far in the future — estimates range from as soon as 2016 to as “distant” as 2028 — it will surpass the American economy in size....

[Goldbaba]

Antwort auf Beitrag Nr.: 46.740.303 von Goldbaba am 31.03.14 19:35:42

Germany, England, Canada and the U.S. are all vying to become Western centers for the Yuan trade.

Germany

Bloomberg reports today:

Germany’s Bundesbank and the People’s Bank of China agreed to cooperate in the clearing and settling of payments in renminbi, paving the way for Frankfurt to corner a share of the offshore market.

***

The central banks signed a memorandum of understanding in Berlin today, when Chinese President Xi Jinping met German Chancellor Angela Merkel, the Frankfurt-based Bundesbank said in an e-mailed statement.

Germany’s financial capital prevailed over Paris and Luxembourg in a euro-area race to win trade in renminbi, which overtook the euro to become the second-most used currency in global trade finance in October, according to the Society for Worldwide Interbank Financial Telecommunication.

***

Deutsche Boerse AG, which operates the Frankfurt Stock Exchange, also signed an agreement with Bank of China, expanding a partnership that will make it easier for Chinese issuers and Asian investors to access European capital markets, including stock listings.

***

German companies including Siemens AG, the country’s biggest engineering company, and Volkswagen AG are embracing the renminbi internally as a third currency for cross-border trade settlements.....


http://www.globalresearch.ca/chinas-renminbi-challenges-us-d…

[Goldbaba]

Antwort auf Beitrag Nr.: 46.727.443 von Goldbaba am 28.03.14 19:28:20

China threatens US dollar's global status

Read more: http://voiceofrussia.com/2014_03_30/China-threatens-US-dolla…


President Xi Jinping's visit to Germany yielded an unexpected success for the Chinese quest to internationalize the yuan.
Read more: http://voiceofrussia.com/2014_03_30/China-threatens-US-dolla…

[Goldbaba]

Der Wert des US Dollar verfällt immer schneller:

Two reasons why the greenback is falling in value so fast:

First, world central banks have been slowly selling the U.S. dollars they keep in their reserves, as the percentage of world central banks that use the dollar as their reserve currency has fallen from more than 70% in the year 2000 to just over 60% today.

Secondly, with the Japanese and Chinese reducing the amount of U.S. Treasuries they buy and with the Federal Reserve reducing the paper money it prints each month (that’s billions worth of U.S. dollars that it was using to buy government bonds), who will buy U.S. Treasuries going forward?

http://seekingalpha.com/article/2113313-why-is-the-u-s-dolla…

[Goldbaba]

Antwort auf Beitrag Nr.: 46.709.099 von Goldbaba am 26.03.14 18:13:00

Chinese February Gold Imports Show Strong Chinese Demand: What Chinese Credit Crunch?


Chinese gold demand in February crosses 100 tonnes, which is the highest ever for the month.
Most gold was imported after the Chinese New Year, which should surprise some gold analysts looking for a pullback.
The Chinese credit crunch is not flooding the market with gold, which isvery bullish.

http://seekingalpha.com/article/2112283-chinese-february-gol…

[Goldbaba]

Summary

China is evidently moving towards a more market-driven economy, as shown by the doubling of the trading range for the yuan.

China revamping its financial sector often causes alarm among U.S. investors concerned the dollar will lose its status as the world’s reserve currency.

“Dollar scare” is just more media hype investors should ignore.

http://seekingalpha.com/article/2106383-what-happens-if-the-…

[Goldbaba]

Wird Indien China mit Goldimporten überholen?

http://seekingalpha.com/article/2105403-india-set-to-import-…

[Goldbaba]

Antwort auf Beitrag Nr.: 46.672.563 von FLOC am 21.03.14 10:48:36

@FLOC

vielen Chinesen ist das Tibetthema wirklich peinlich,
was ich aus einigen Gesprächen heraushören konnte.

Zijin hat aber auch Minen in Tibet, seit der Eröffnung der Eisenbahn
nach Lhasa wurden die Aktivitäten dort stark verstärkt.
Schon viel früher wurde in Tibet reichlich Gold gefunden.



http://www.meltdownintibet.com/e_mining.htm