_(*)[Historian] Here is the article on Japan and China agreeing to start direct trading of their currencies, and moving away from using the USD. :::::
The New York Times | December 26, 2011 | Currency Agreement for Japan and China | BEIJING | China and Japan have agreed to start direct trading of their currencies…..
Japan will also apply to buy Chinese bonds next year, allowing it to accumulate more renminbi in its foreign-exchange reserves…..
China is the world’s second-largest economy while Japan is the third largest, and the currency agreement is part of a move away from using dollars. They hold the world’s largest foreign-currency reserves —
China has about $3.2 trillion, while Japan holds $1.3 trillion — and any moves to reconstitute the makeup of those holdings could change the global currency map…. As for the long-term ramifications for the United States, analysts said it was difficult to predict before the pact took effect….
...
Read More Link On Right
_Professor Bergstrand* compared the role of the dollar on the world state now to the waning of the British pound 100 years ago as the prominent currency for international transactions. (* Jeffrey H. Bergstrand, professor of finance at Mendoza College of Business, University of Notre Dame.) http://www.nytimes.com/2 ··· n&st=cse
[10:19:39 PM | Edited 11:17:20 PM] toni (TONI1960): comments on new empires rising to overtake old empires. London and New York were the top global financial centres for years. That lead has eroded steadily in recent years, and on Tuesday the World Economic Forum stated that Hong Kong has moved into first place. ::::::
ALJAZEERA | 14 Dec 2011 | Hong Kong named world’s top financial hub http://www.aljazeera.com ··· 525.html Hong Kong has become the first Asian city to top an annual survey of global financial development, overtaking the world's traditionally dominant financial industry hubs in New York and London.
The World Economic Forum on Tuesday said that Hong Kong, a semi-autonomous Chinese territory, had jumped from fourth to first due to its strong scores on non-banking financial services such as initial public offerings and insurance
.
New York's Wall Street and the City of London … slipped on lower scores for financial stability…. Among the top 20, Japan moved up to eighth place while Malaysia climbed one spot to 16th. South Korea jumped six spots to 18th place while China, treated as a separate entity to Hong Kong, rose three places to 19th…
.
[Historian] (Part 2 of 3) Excerpts from article showing Hong Kong’s rise from 3 months ago. :::::
HITC | 3 months ago | And the Top Ten Global Financial Centres Are… http://hereisthecity.com ··· st-chan/ …. Eurozone - capital cities of the weaker Euro economies are clearly suffering - examples include - Madrid… Dublin… Milan down; Asia - the strongest centres are strengthening and consolidating their positions -
Hong Kong up 11 points, Singapore up 13, Shanghai up 30 and Seoul up 28… The three top centres [London, NY, HK, Singapore] are now only four points apart (there was a gap of 16 points between first and third 6 months ago).
[Historian] (Part 3 of 3) Excerpts from January 2010 article predicting the changes. :::::
BUSINESS INSIDER | Jan 7, 2010 | 10 Emerging Financial Centers That Will Blindside New York and London http://www.businessinsid ··· gfiVkLBS … The financial crisis slammed global banking hubs around the world.
Were it not for government bailouts, Wall Street, The City and other banking hubs may never have recovered. The traditional financial powerhouses stand weakened, and others, long hungry to steal their business, are taking advantage.
Around the world, regional banking centers like Toronto, Shanghai, Singapore and Zurich are poised for explosive growth and to become the new world financial leaders…. as Western power declines, banks could increasingly favor Hong Kong and Sao Paulo….http://www.businessinsider.com/top-emerging-financial-centers-2010-1#ixzz1gfiVkLBS
[10:20:03 PM] toni (TONI1960): [Historian] hotdogs All that is going to change with the RV of multiple currencies. At that point, IMO we are likely going back to asset-backed currencies. So things will be different then compared to now. You will need to watch what happens.
[10:20:47 PM] toni (TONI1960): [Historian] hotdogs There may be a new gold-backed reserve at that time. We just can't predict that now. Right now, I am comfortable with the Canadian dollar, Australian dollar, Swiss franc -- but that is JMHO. You need to speak with a currency specialist to get a professional opinion.
0 Response to "Dinar Recaps - Our Blog: HISTORIAN - Post By Toni1960 G.E.T. Forum"
Catat Ulasan