Tidbit of information time: Currency swapping with China…
Russia and China! Japan and China! India and China! Iran and China! Singapore and China! Pakistan and China! Brazil and China! South Korea and China! Argentina and China! Indonesia and China! New Zealand and China! Malaysia and China! Belarus and China! Hong Kong and China! Uzbekistan and China! Thailand and China! Turkey and China! Kazakhstan and China! Now add to this growing list, Britain and China!
Mervyn King, governor of Bank of England (BoE) and Zhou Xiaochuan, governor of People’s Bank of China (PBoC), have signed an agreement to establish a reciprocal 3-year sterling/renminbi (RMB, or Chinese yuan) currency swap line, according to an announcement on the BoE’ website on Saturday night. This is China’s first such currency deal with a G7 nation!
A G7 Nation?
That is correct, you know one of those super rich western countries that use only dollars…
Now one of those “super rich western countries that use only dollars” is swapping Chinese renminbi and that my friend is the definite slide of the dollar into the pit…
And the beat goes on, as the wind does blow…
Post by Kyle Keeton
Windows to Russia…