1.SANYA, China (Reuters) - The BRICS group of emerging-market powers kept up the pressure on Thursday for a revamped global monetary system that relies less on the dollar and for a louder voice in international financial institutions. The leaders of Brazil, Russia, India, China and South Africa meeting on the southern Chinese island of Hainan, they said that what was needed was "a broad-based international reserve currency system providing stability and certainty".
COMMENT: The noise is getting louder. Obama behaves as if he is living in a bubble. Unfortunateley this bubble is get smaller. The precious metals are reflecting the markets impatience with Washington.
2.BEIJING—China announced an increase in the share of deposits banks must hold in reserve, its fourth such move this year, a fresh step in its battle against inflation that came after data showed consumer prices rising at their fastest clip in nearly three years in March.
COMMENT: Inflation is like a war. Its easy to start but not so easy to end....
3.Pecans are as all-American as anything can be. Washington and Jefferson grew them. They are the state nut of Arkansas, Alabama and Texas. The U.S. grows about two-thirds of the world's pecans and chews most of them itself. Five years ago, China bought hardly any pecans. In 2009, China bought one-quarter of the U.S. crop. The price has doubled to $2.14 a pound in 3 years.
COMMENT: Sorry couldn't resist....No comment from the peanut gallery!
4.Obama has recently promised 10 billion of US tax dollars to Brazil in order to give them a leg-up in expanding their offshore oil fields. Obama's largesse towards Brazil came shortly after his political financial backer, George Soros, invested heavily in Brazilian oil (Petrobas).
COMMENT: Makes one wonder where the truth lies. One day, if ever, it would make a fascinating read.
5.China can buy up the world. At the end of last year, China's foreign exchange reserves amounted to $2.85 trillion. By the end of March 2011, China's reserves had swelled to the almost ridiculous level of over $3 trillion.
The Economist:
China could buy ALL U.S. farms (value $1.87 trillion) and still have over one trillion left over.
China could buy all the world's monetary gold (value $1.43 trillion) and have change left over.
China could buy Apple, Microsoft, IBM and Google (cost $916 billion),
China could buy all existing US military equipment (value $414 billion).
China could buy ALL Manhattan real estate (value $287 billion). What would Trump say?
China could buy all of the PIIGS sovereign debt (value $1.51 trillion).
6.Financial Times: The income level at which Chinese citizens will have to start paying income tax will be raised from the current Rmb2,000 ($305) per month to Rmb3,000 per month, once the country’s rubber stamp legislature has given its approval, China’s finance ministry said on Wednesday. Thus narrowing the widening wealth gap in the country.
COMMENT: Slowly but surely......
Where others see problems, we can see possibilities - Diana Dreher
COMMENT: The noise is getting louder. Obama behaves as if he is living in a bubble. Unfortunateley this bubble is get smaller. The precious metals are reflecting the markets impatience with Washington.
2.BEIJING—China announced an increase in the share of deposits banks must hold in reserve, its fourth such move this year, a fresh step in its battle against inflation that came after data showed consumer prices rising at their fastest clip in nearly three years in March.
COMMENT: Inflation is like a war. Its easy to start but not so easy to end....
3.Pecans are as all-American as anything can be. Washington and Jefferson grew them. They are the state nut of Arkansas, Alabama and Texas. The U.S. grows about two-thirds of the world's pecans and chews most of them itself. Five years ago, China bought hardly any pecans. In 2009, China bought one-quarter of the U.S. crop. The price has doubled to $2.14 a pound in 3 years.
COMMENT: Sorry couldn't resist....No comment from the peanut gallery!
4.Obama has recently promised 10 billion of US tax dollars to Brazil in order to give them a leg-up in expanding their offshore oil fields. Obama's largesse towards Brazil came shortly after his political financial backer, George Soros, invested heavily in Brazilian oil (Petrobas).
COMMENT: Makes one wonder where the truth lies. One day, if ever, it would make a fascinating read.
5.China can buy up the world. At the end of last year, China's foreign exchange reserves amounted to $2.85 trillion. By the end of March 2011, China's reserves had swelled to the almost ridiculous level of over $3 trillion.
The Economist:
China could buy ALL U.S. farms (value $1.87 trillion) and still have over one trillion left over.
China could buy all the world's monetary gold (value $1.43 trillion) and have change left over.
China could buy Apple, Microsoft, IBM and Google (cost $916 billion),
China could buy all existing US military equipment (value $414 billion).
China could buy ALL Manhattan real estate (value $287 billion). What would Trump say?
China could buy all of the PIIGS sovereign debt (value $1.51 trillion).
6.Financial Times: The income level at which Chinese citizens will have to start paying income tax will be raised from the current Rmb2,000 ($305) per month to Rmb3,000 per month, once the country’s rubber stamp legislature has given its approval, China’s finance ministry said on Wednesday. Thus narrowing the widening wealth gap in the country.
COMMENT: Slowly but surely......
Where others see problems, we can see possibilities - Diana Dreher
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