Russia's VTB Bank Offering Maximum Interest Rates For Chinese Yuan Amid West's Sanctions ( 8 percent)

Republic world ^ | 13 mar 22 | Written By Aparna Shandilya

[gw-ington]

They're BRIC nations (read...factory nations).

Agreed. China is just a factory nation and nothing more. Nothing to worry about there.

Even with senile Sleepy Joe "running" (ruining?) things for the next three years (and possibly another four years after that, followed by a possible eight years of "leadership" by the Laughing Hyena Headboard), the U.S. is in great shape in comparison to China. Xi Jinping has no clue what he's doing while super-genius Sleepy Joe & Laughing Hyena Headboard are totally on top of their game. Great news all around.

/s

[politicket]

I don't like our current "leaders" any more than you do - but the facts remain that China is a factory nation that collapses economically if other nations don't buy their junk.

Do you think other BRIC (Russia, India, and Brazil) have the means to keep China afloat if other prosperous nations bow out? Not a chance.

As I stated in another post - China is also economically collapsing due to their real-estate crisis. Their central bank will need to implement some form of quantitative easing to give them an opportunity to survive.

[mvonfr]

**Wonder how many Russians have access to Chinese Yuan...just a first thought.**

Probably all before long... because of the there of the MIR/UnionPay credit card alliance.

[BiglyCommentary]

I die laughing read this stuff. The combined GDP of the US, EU, Canada, and Mexico is north of 40 TRILLION. China is about 10 (real, not their fake number). These China puffers think somehow the store rules, not the customers with the spending money.

[BiglyCommentary]

Youve been here long enough to remember all the posts in 2009 and 2010 how Bernanke was crashing dollar due to all the printing with quantitative easing. Endless posts how the yuan was going to take over. Here China was printing 4 times the number of yuan than Bernanke was of dollars.

[Codeflier]

Where is Baghdad Bob graphic? It’s already happening with India, China, and Russia. You haven’t seen pain until this happens. Imagine paying $90 for a hamburger. No one will buy our debt either. It’s basically game over. You should be far more concerned.

[politicket]

You should be far more concerned.

I've studied economics for decades. You're mis-reading the tea leaves.

Keep your eyes focused on the collapsing real-estate bubble in China. It tells the biggest economic story out there. Much, much, much bigger than Russia.

[politicket]

You've been here long enough to remember all the posts in 2009 and 2010 how Bernanke was crashing dollar due to all the printing with quantitative easing.

That's back when I was saying the US Dollar was going to strengthen, gold and silver were going down instead of up, and that oil would eventually hit $30/barrel instead of $300.

Had a lot of people calling me a lot of names back then, but every single one of those calls proved correct.

[BiglyCommentary]

Yup, massive deflationary forces in effect, tons of money going off to money heaven that Bernanke was replacing.

[grey_whiskers]

What’s oil at right now, btw? 🥸

[delta7]

China is panicked right now,
———-
Not hearing that from my contacts in China. Granted, one national was in lockdown for three weeks upon arrival ( the norm) from the US, the banker in Hong Kong doing fine, the two others carrying on. Not a major representation of the population, but these are not “ panicked”.

[delta7]

I agree that the dollar is in trouble, but the Yuan isn’t taking its place.
——- it is in more than a third of the world. Capitol always move to the highest returns.

[politicket]

Not hearing that from my contacts in China.

Are your contact in their central bank? China is pretending it's not a big deal, while knowing that it is.

They will have to undertake quantitative easing at some point to try and ward it off.

Also, wondering who owns the CDS on that worthless debt?

[politicket]

What’s oil at right now, btw?

High - due to Biden and the war. But have you noticed how it has come way off its highs of almost $140/barrel?

Have you noticed how gold and silver have come off of their highs?

Also, did oil reach $30/barrel? Why yes...yes it did...

[politicket]

Yup, massive deflationary forces in effect, tons of money going off to money heaven that Bernanke was replacing.

You got it.

Most everybody else thinks we're heading the other way because they're looking at price inflation, instead of monetary signals.

[BiglyCommentary]

Do you have any of those US dollars? I’ll give you 50 cents for each one, but only if you accept the deal now, since as you know, the dollar is collapsing by the minute, so I’d have to pay less tommorow.

[grey_whiskers]

The price of oil bounces.