There's a big tide arisin'
This is the BBC chart for closing prices of Commodities on World Markets last night.. click chart to enlarge
"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "
Chinese premier Wen Jiabao 12th March 2009
""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."
Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009
Push on the Picture
Indecision Theory ...so far .. so good
Strong words, ideas, pictures
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5 comments:
It looks like some poor bastards are going to have to be reminded that holding a few billion worthless dollars is the best way to avoid having their country bombed six ways from Sunday
The only question is whose turn?
It looks like China is benefitting from the rise in metal prices.
Shares in WESTERN Mining Co (China's second largest mining company) made a trading debut/went on public sale on 9th July 2007. The capitalisation prior to public sale was set at 6.2 billion yuan (US$814 million).
Investors ordered almost 244 times the stock offered, making the total cash offered equivalent to $198 Billion USD.
The shares (which opened on 9/7/07 at 13.48 yuan) are currently trading at 33.88 yuan.
I'm no financial expert, but I'm sure the dollar won't benefit from all this.
Whilst browsing, I noticed that there is an upcoming sale of Chinese shares of the world's largest coal company by market value China Shenhua Energy. The Shenhua Chinese stock (known as A shares), would be worth a staggering 50.9 billion yuan ($6.7 Billion USD) capitalisation (prior to trading) at todays Hong Kong stock exchange prices (where the shares are currently traded).
Also interesting is the announcement that China is banning the overease stock exchange listing of (Chinese) private companies, in an effort to promote the Shanghai and Shenzhen exchanges. Hong Kong, US & London have been previously used by (China's) State-owned companies to raise funds. Also, from 1st July 2007, the Chinese regulations changed allowing various world bourses (NYSE Euronext, Nasdaq, London Stock Exchange & Deutsche Borse) to set up representative offices in the Chinese mainland.
All very interesting stuff, but I'm sure another blow for the dollar........?
Check the price of Western mining now : 68.45 Yuan
Sorry, my mistake, 61.45, but still a helluva raise!
Astounding rise as Mr & Mrs China tuck away their savings.
Thrift and hard work being the habiot of the coastal Chinese - very long term the realtive poverty of the 800 MN rural Chinese poses problems as resources - fuel, electricty become scarce.
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