Bullionstar - New Zealand
Buy Silver & Gold With Cryptocurrencies - Storage & Insurance In Safe Jurisdiction
Bullionstar - Singapore
Buy Silver & Gold With Cryptocurrencies - Storage & Insurance In Safe Jurisdiction
North America
Buy & Sell Gold & Silver With North America's Most Respected Dealer

China's state banks told to stock up for yuan intervention

By Julie Zhu
Reuters
Thursday, September 29, 2022

HONG KONG -- China's central bank has asked major state-owned banks to be prepared to sell dollars for the local unit in offshore markets as it steps up efforts to stem the yuan's descent, four sources with knowledge of the matter said.

State banks were told to ask their offshore branches, including those based in Hong Kong, New York and London, to review their holdings of the offshore yuan and ensure U.S. dollar reserves are ready to be deployed, three of the sources, who declined to be identified, told Reuters.

... Dispatch continues below ...

... ADVERTISEMENT ...

Fisher Precious Metals offers great prices
with personal service from a family team

Family-owned and operated Fisher Precious Metals is a great low-cost source for precious metals -- coins, rounds, and bars. But we also get you the highest prices available when you sell your precious metals.
 
Expect a personal approach with Fisher Precious Metals. You can always speak directly with the owners within 24 hours if not immediately. We provide you a team you can get to know and call at any time to discuss your investments with no pressure to buy.

Check our Google reviews to see what our clients have to say:

https://g.page/FisherPreciousMetals?share

Contact us at 1-800-390-8576 or Info@FisherPM.com or visit us here:

https://fisherpreciousmetals.com/

The simultaneous selling of dollars and buying of yuan could put a floor under the Chinese currency, which has lost more than 11% to the dollar so far this year and looks set for its biggest annual loss since 1994, when China unified its official and market rates.

... For the remainder of the report:

https://www.reuters.com/markets/currencies/exclusive-chinas-state-banks-told-stock-up-yuan-intervention-sources-2022-09-29/

* * *

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 12-15, 2022
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana

https://neworleansconference.com/wp-content/uploads/2022/07/NOIC_2022_powellgata.html

* * *

Toast to a free gold market
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

http://www.gata.org/files/FayJWineryVarietals.jpg

GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

https://www.amazon.com/Rigged-Exposing-Largest-Financial%20-History/dp/1651405204/ref=sr_1_fkmr1_2?keywords=rugged+stuart+englert&qid=1579708888&sr=8-2-fkmr1

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

The UK's crisis of confidence was years in the mak...
Alasdair Macleod: Kwarteng and a job half done

By accepting you will be accessing a service provided by a third-party external to http://silvergoldadvisor.com/