Two days after President Donald Trump tweeted he was "very disappointed" in China
following Pyongyang's latest missile test adding that "we will no longer allow this to continue", Beijing has hit back at Trump on Monday, saying the problem did not
arise in China and that all sides need to work for a solution, according to a statement sent to Reuters by China's Foreign Ministry.
Submitted by Koos Jansen, BullionStar.com.
My best estimate as of June 2017 with respect to total above ground gold reserves within the Chinese domestic market is 20,193 tonnes. The majority of these reserves are held by the citizenry, an estimated 16,193 tonnes; the residual 4,000 tonnes, which is a speculative yet conservative estimate, is held by the Chinese central bank the People’s Bank of China.
Authored by James Rickards via The Daily Reckoning,
With the U.S. preparing to confront China and go to war with North Korea, Russia is an indispensable ally for the U.S.
There are huge implications on capital markets as these hegemonic powers continue to edge toward war.
Here’s an overview of some of the financial implications of improved relations with Russia…
1: The End of OPEC and the Rise of the Tripartite Alliance
After both Brent and WTI rose above their respective 50DMAs on Friday, capping 2017's best weekly rally for oil, the rising tide is accelerating as the latest CFTC COT data confirmed, when net specs boosted bullish Nymex WTI crude oil bets by 27K net-long positions to 423K, the highest in two months, as producers continued to cover short hedges, sending their net position to the most bullish since the summer of 2015.
Following a flood of warnings in the past week about both the precarious state of markets and the global economy, most recently from the otherwise stoic Howard Marks warning about bubble-like condition in the market (especially when it comes to passive investors), as well as Robert Shiller who explained what "keeps him up at night", we were due for some good news.