ASIA: China’s new household deposits grew more than a third year on year to a record USD 1.5tn in the first half of 2022, while individual bank borrowings plunged more than half over the same period, official data showed. The inversion in savings rates followed an increase in bank deposits as Chinese savers raced to […]

ASIA: Asian Development Bank (ADD) in its “E-Mobility Options for ADB Developing Member Countries,” which both forecast and recommended the quick shift to electric vehicles in the region to stem both climate change issues and the rising cost of fuel. The report noted how in the People’s Republic of China (PRC) focused on EV production […]

ASIA: Chinese authorities on Sunday violently dispersed a peaceful protest by hundreds of depositors, who sought in vain to demand their life savings back from banks that have run into a deepening cash crisis. Since April, four rural banks in China’s central Henan province have frozen millions of dollars’ worth of deposits, threatening the livelihoods […]

COMMENT: I thought you were just a Trumper warning what would happen if Biden won. I have come back to your site because I can see inflation approaching 10% as you said and the dollar is rising which made no sense as gold stalled. I think you also said that real estate will decline perhaps […]

ASIA: India’s gold imports in June nearly trebled from year-ago levels on correction in prices and as jewelers replenished inventories after robust sales during a key festival, Reuters reported. Higher imports by the world’s second-biggest bullion consumer could support benchmark gold prices, but the surge may increase India’s trade deficit and put pressure on ailing […]

QUESTION: Marty, It seems like the Epoch Times is reporting nonsense. They just posted an article claiming that some analyst I never heard of claims that the Federal Reserve is “likely to reverse course and continue to print substantial amounts of money because doing otherwise would threaten the federal government with insolvency.” With the demand […]

    ASIA: A shortage of cash dollars and forward market intervention by the Reserve Bank of India which has pushed onshore 1-year forward premiums to their lowest levels in more than a decade could pressure the rupee to new lows, traders and analysts said. The one-year annualized forward premium stood at 2.91% at 0830 […]

ASIA: Chinese President Xi Jinping made a rare statement Wednesday about his country’s aims to achieve its economic goals for the year. Investment analysts have cut their forecasts for China’s GDP growth to well below the official target after stringent Covid controls restricted business activity in the last few months. The median GDP forecast among […]

ASIA: Australia’s top central banker on Tuesday flagged a lot more policy tightening ahead as rates were still “very low” and it was important that higher inflation did not feed into public expectations and wage claims. Reserve Bank of Australia (RBA) Governor Philip Lowe warned price pressures continued to build both globally and domestically and […]

People believed that governments would use tracker apps solely for COVID purposes. Sadly, the Chinese are quickly learning the harsh reality – the apps were always intended to control the masses. Over $6 billion (39 billion yuan) has been frozen, and thousands of people are unable to access their bank accounts. A few banks in […]