Wednesday, August 31, 2016

China - Your Currency Is Not Wanted

That is in it's current form.

And according to a fund manager quoted in an article by ZeroHedge, they don't want a SDR even if the Yuan is in it.

China's currency needs GOLD backing! Gold backed bonds. Witness the world reject the SDR. The Zionist Jew bankers will be quaking in their boots now.

In Historic Event, China Sells First World Bank SDR-Denominated Bonds In Decades

The global lender has got approval from the PBOC for a 2 billion SDR programme, and despite the apparent success of Wednesday's issue analysts say future demand for the bonds from local investors might prove tepid. 

"We are not interested in SDR bonds and we can't see why Chinese investors should want these bonds since they can easily buy much higher yielding bonds in China," said a fixed-income fund manager in Hong Kong who invests both onshore and offshore debt markets.

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