Posted on 03/13/2022 2:17:25 PM PDT by delta7
Russia's VTB Bank Offering Maximum Interest Rates For Chinese Yuan Amid West's Sanctions Russia's state-owned VTB Bank has offered its customers the option of opening Chinese Yuan deposits in thier savings accounts, which pay up to 8% interest.
High interest rates = high risk to gain ratio. Junk bonds have high interest rates.
Yeah, until all those Chinese people try to get their money out in a few years.
Rouble accounts were paying 20% plus.
They're BRIC nations (read...factory nations).
There will be no "dethroning" the US Dollar.
The lowest rated tranche of a Collateralized Debt Obligation pays the highest interest rate and is the most worthless.
Yeah, until all those Chinese people try to get their money out in a few years.
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The US GDP has been about 1-2 percent growth the past two years, dismal. China’s GDP has been 5-7 percent growth the same period.
China has the economic growth to sustain their Yuan…..wait till they announce they are backing it with gold….stay tuned, it is also “ rumored” Russia will announce they will take gold as payment for oil….say good bye to the petro dollar. Stay tuned.
Sorry, I understated China’s growth.
“ BEIJING — China’s economy grew by 8.1% in 2021 as industrial production rose steadily through the end of the year and offset a drop off in retail sales, according to official data from China’s National Bureau of Statistics released Monday.
Fourth-quarter GDP rose by 4% from a year ago, according to the statistics bureau. That’s faster than the 3.6% increase forecast by a Reuters poll. For the full year, China economists expected an average of 8.4% growth in 2021, according to financial data provider Wind Information.”
The new world’s economic giant in the making.
While the US argues about how many genders there are.
The lowest rated tranche of a Collateralized Debt Obligation pays the highest interest rate and is the most worthless.
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Maybe so, but that will be hundreds of billions of dollars NOT being invested in US debt instruments. We are witnessing an historic financial change. Another milestone awhile back, more money was being invested in China securities than US securities, another historic first….trends my friend, watch the trends….a huge shift is occurring. Couple those trends with all the big money going to private instead of public.
There will be no “dethroning” the US Dollar.
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Happening as we speak.
Only a mentally challenged Putinist would keep their money in a Russian bank at the moment.
That's not what the Dollar Index chart shows. Investors are flocking to the US Dollar.
8% paid in what? Yuan? The Chinese play around with that valuation every day.
I agree that the dollar is in trouble, but the Yuan isn’t taking its place.
PS: I'm not at all in favor of debt-based money - just stating a point.
You believe those numbers?
China is panicked right now, as their money supply begins to crater from the burst of their real-estate bubble on properties that are completely worthless (ghost cities anyone?).
China's economy is in a position to explode downward, and drag much of the world with it.
That's the thing to watch - not what Russia does with their economy.
Those stats are complete make believe. No one takes them seriously. Remember China saying they had not a single new covid case in months while the West was raking up millions? Or they would report 4 cases in city of 10 million and that is why they were closing it?
Wonder how many Russians have access to Chinese Yuan...just a first thought.
Yup, all that insane money printing from 2008 onward, going into building ghost cities and other non productive assets is all catching up with them.
All of the current, and previous spending bills (with money which we don’t have) in addition to the FED’s action/inaction are contributing to inflation/the collapse of the dollar. What we’re seeing now, are other countries tossing the dollar as their reserve currency, and attempting to go to some semblance of a “Gold Standard”. When the dollar loses reserve currency status...we’re f!@#ed overnight.
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