Russell Napier Explains How The Decline Of The Yuan Destroys Belief In Central Banking

From Russell Napier of ERI-C

It’s Not a Pet, It’s a Falcon: How the decline of the RMB destroys belief in central banking and a successful reflation

Turning and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;

– The Second Coming- W.B. Yeats

First catch your falcon, as the formidable Mrs Beeton might have said if she was in need of a method of catching her main course (see Mrs Beeton’s Book of Household Management 1861- ‘Recipe for Jugged Hare’). Continue reading

China boosts gold reserves for 5th straight month

Taking advantage of the low price of gold, in November China boosted its gold holdings for the fifth consecutive month, the fastest growth rate since June, the central bank reported Tuesday.

However, November’s $87 billion decline in total foreign exchange reserves was the country’s biggest drop since August’s record-high decline of $93.9 billion. Continue reading