by We’re going to be introducing some new formats. One of them is quick article links, with the good ones labelled Pure Gold and the bad ones labelled Soggy Dollars. Pure Gold When a Fed-induced boom turns to bust: “In the lynch-mob atmosphere that inevitably follows the bust cycle of Fed-induced business cycles, it was not hard to convince Americans that the corporate bankruptcies and the subsequent recession were the handiwork of criminal executives.” Of course, this sentiment prevails today too. Look for the coming “corporate crime wave“. A Soggy Dollar The headline reads, “China Bought Gold With Proceeds From Record Sale Of US Treasuries”. It’s been in the news for a while: China is selling Treasurys (i.e. dollars). The PBoC is forced to sell dollars and buy yuan, to prevent a yuan crash as people are selling yuan. However, many mistake this for China “de-dollarizing” in favor gold. According to the article above, China sold B of Treasurys (i.e. dollars). And how much gold did they buy? Less than 0M, or 0.7%.
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Keith Weiner considers the following as important: Belgium Treasuries, china FX reserves, Featured, Gold and its price
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We’re going to be introducing some new formats. One of them is quick article links, with the good ones labelled Pure Gold and the bad ones labelled Soggy Dollars.
Pure Gold
When a Fed-induced boom turns to bust: “In the lynch-mob atmosphere that inevitably follows the bust cycle of Fed-induced business cycles, it was not hard to convince Americans that the corporate bankruptcies and the subsequent recession were the handiwork of criminal executives.” Of course, this sentiment prevails today too. Look for the coming “corporate crime wave“.
A Soggy Dollar
The headline reads, “China Bought Gold With Proceeds From Record Sale Of US Treasuries”. It’s been in the news for a while: China is selling Treasurys (i.e. dollars). The PBoC is forced to sell dollars and buy yuan, to prevent a yuan crash as people are selling yuan. However, many mistake this for China “de-dollarizing” in favor gold.
According to the article above, China sold $83B of Treasurys (i.e. dollars). And how much gold did they buy? Less than $600M, or 0.7%.