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Elmerf123456:  The People’s Bank of China (PBOC) has issued its first offshore yuan bonds in London. The bonds are expected to raise $787 million (5 billion yuan), offer an interest rate of 3.1 percent and mature in 2016.

It’s the first time Chinese government notes have been issued outside China, PBOC said. The move is expected to help the yuan explore the offshore currency market and facilitate cross-border trade and investment.

“This strategic move demonstrates the clear commitment by the Chinese authorities to grow the offshore bond market and the confidence in the City of London as a leading renminbi hub for future activities,” Spencer Lake, global head of capital financing at HSBC, was cited as saying by the Financial Times

He called the bonds’ issuance a milestone in the internationalization of the yuan, saying it will “give a genuine boost to liquidity, market confidence and provide investors with the quality that they demand.”

He being: President Xi Jinping

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Elmerf123456:  Do you all realize how big that article is? Well in case you don’t Germany support most of the EU and that in itself is a huge voice of confidence for the IMF

Markets | Thu Oct 29, 2015 12:01am EDT Germany would support ‘very rapid’ conclusion of EU-China investment treaty German would be pleased if the International Monetary Fund (IMF) included China’s yuan in the Special Drawing Rights (SDR) currency basket, German Chancellor Angela Merkel said on Thursday in Beijing

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GodBlessTony:  Elmer…because I think IMF made the decision months ago not to include because U.S. controls IMF and no upside for U.S. to include Yuan now. IMF said months ago…and this is a quote….”The Yuan maybe included in late 2016″

ElmerF123456:  God bless they did say may include and that really pissed off China and they have the Fed and the IMF in a box and you watch what happens …everyone mark this down… China will be a reserve currency…. no if ,Ands, or butts

I have often stated this is a global event not a US- China event and everything is paid to one another…r this is a necessary move… many countries are broke… many countries are failing because the Fiat system is dead

Do you think for a minute there anyone in the world wants to hold onto hyperinflated hedge money? ask Greece… how did a Fiat currency system work for them ? even though they’re managing our money is not very good… ask other countries that are failing because of this hyperinflation.

Which means printing extra money and just going on about business !! The end is very near the Fiat system and the change for us is right on the doorstep …market down!.  The end is very near for the Fiat system

China is not a little kitty cat playing it’s on litter box ..It is a  country that is strong with gold and is a very wealthy nation and is going to back a lot of things ….they will not be excluded ! Money talks

GodBlessTony:  elmer…the FED can’t run out of money…the create it by monetizing debt. The Dollar will be strong for some time to come, much to the dismay of U.S., for there’s 50 Trillion in dollar denominated debt World Wide..the demand for dollars will be strong for a while

Elmerf123456:  God bless Tony monetizing the money is gotten the world and the United States and the trouble but it’s in that’s why the end of the system is over we can agree to disagree

Lane1214:   Elmer, if the fiat is near dead and China becomes the reserve, what will that do to our exchanged cuurency which will be fiat money?

Elmerf123456:  It remains to be seen if it comes out as Fiat if it does come out at Fiat it will be for short period of time and then it will go to a gold backed currency which China has stated from day one

This entire process is been with the issue of derivatives those zeros are bigger than all the currency  in the world and of course no one could pay that off that’s why they have to be marked down to market or zeroed out and then a new system starts and that is in the process as we speak… look at all the articles out there

the derivatives exposures in the bank is 240 times that of all the currency in the world …that’s why they have to be zeroed off

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[daz] i dont see how it can be the banks position or authority to dictate who you have with you…especially legal cousel. ask yourself…..is there ever a situation where a multimillion dollar transaction happens when theres not a lawyer in the room? would any of the bankers do a personal multimillion deal without a lawyer….doubtful. i think a good contract lawyer could be very helpful in most contract situations. contract language is very different than english language. “There is no surer way to misread any document than to read it literally.” — Guiseppi v. Walling, 324 U.S. 244, 65 S.Ct. 605, 89 L.Ed. 921 (1944).

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