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Originally posted by boondock-saint
Originally posted by Vitchilo
Well it's not the Bank of China doing this... it's the Chinese government.
I sure would like to read up on that a lil,
have u got a link for me to read ???
China's foreign exchange reserves soared to a record $3.1975 trillion at the end of June, the central bank said Tuesday, highlighting concerns over inflation in the world's second biggest economy.
China's stockpile of foreign currency -- the largest in the world -- expanded by 30.3 percent from a year earlier, the People's Bank of China said in a statement.
so now they have no choice but to invest more or lose a boatload.
Originally posted by Vitchilo
China's foreign exchange reserves soared to a record $3.1975 trillion at the end of June, the central bank said Tuesday, highlighting concerns over inflation in the world's second biggest economy.
China's stockpile of foreign currency -- the largest in the world -- expanded by 30.3 percent from a year earlier, the People's Bank of China said in a statement.
So with that money, China is buying European bonds... they already invested hundreds of billions in Europe... so now they have no choice but to invest more or lose a boatload.
The Foreign exchange reserve of the People's Republic of China is mainly composed of US dollar in the forms of US government bonds and institutional bonds, and excludes reserves held by Hong Kong and Macau. As of the end of March 2011, the reserve holds $3.0447 trillion, making it the highest foreign exchange reserve in the world and far exceeded holdings of the next largest holder, Japan (~$1 trillion). The reserve is governed by State Administration of Foreign Exchange and People's Bank of China all of which are under operation of the Bank of China.
In October 2005, the Royal Bank of Scotland Group PLC announced a $3.1 billion investment which would give the British bank control of just under 10 percent stake in the Bank of China. Further investments were made by Swiss bank UBS AG, and by Temasek Holdings Pte. Ltd, who also promised to subscribe for an additional $500 million worth of shares during Bank of China's initial public offering.
The Bank has been investigated by the United States in its money laundering probe related to the superdollars affair
in 2008 Bank of China buys 20 percent stake in La Compagnie Financiere Edmond de Rothschild (LCFR) for 236.3 million euros (US$340 million)
Originally posted by A por uvas
reply to post by boondock-saint
and the cycle goes on
whats next ?
Originally posted by BobAthome
reply to post by wonderworld
Thats if they dont try too settle the imbalance militarily first,,
which is why the U.S sent a General to China,,couple days ago,,,
Which is just "speculation" on my part,, but hey thats what make the markets fun right,, speculation,, that is.
Me.