China is building a yuan currency reserve to compete with the dollar and prop up other economies facing volatility; BRICS-Brazil, Russia, China and South Africa; Fractional Reserves and the Fed
Chinese, Russian Scientists Create Cheap, Efficient New Hydrogen Energy Material; the Gold Standard Promotes Economic Stability; Dallas Fed Plunges-Respondents Unleash Unprecedented Slamdown of Biden
China is building a yuan currency reserve to compete with the dollar and prop up other economies facing volatility
“China is teaming up with Indonesia, Malaysia, Hong Kong, Singapore, and Chile to each contribute 15 billion yuan — about $2.2 billion — to a Renminbi Liquidity Arrangement, China's central bank said in a Saturday statement. "When in need of liquidity, participating central banks would not only be able to draw down on their contributions, but would also gain access to additional funding through a collateralised liquidity window," the bank said.
Per the report, the funds will be stored with the Bank for International Settlements.”
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BRICS - Brazil, Russia, China and South Africa
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Chinese, Russian Scientists Create Cheap, Efficient New Hydrogen Energy Material
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Fractional Reserves and the Fed
“The following is a testimony before the U.S. House Committee on Financial Services, Subcommittee on Monetary Policy (Chairman: Ron Paul). Dr. Salerno was able to give this testimony thanks to the generous support of Mises Institute donors.” 2019.
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Contra Ben Bernanke, the Gold Standard Promotes Economic Stability
“Ben Bernanke once claimed that a monetary gold standard caused economic instability. He failed to mention that his fiat money standard causes the boom-and-bust cycles.”
“Currently the world is on a fiat money standard—a government-issued currency that is not backed by a commodity such as gold. The fiat standard is the primary cause behind the present economic instability, and is tempted to suggest that a gold standard would reduce instability. The majority of experts however, oppose this idea on the ground that the gold standard is in fact a factor of instability.”
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Dallas Fed Plunges As Respondents Unleash Unprecedented Slamdown Of "Disastrous" Biden Administration
"We’ll all be lucky to have a job with two more years of this disaster... the administration is either stubborn or as paralyzed as a deer in headlights..."
[The economic ignorance of the Biden Administration is beyond belief showing extreme stupidity. - JRD]