Gold, with or without gold-backed stablecoin.
Renminbi (RMB)/Yuan Appreciation & Internationalization
- Thread starter supercat
- Start date
You're repeating these moneybrained platitudes like they mean anything. It doesn't matter that China's capital account is closed because people holding RMB won't be a matter of choice, but necessity. We're beginning to see China using its monopsony power to compel payment in RMB. As China's position in supply chains becomes more indispensable, it will coerce more transactions in RMB whether anyone likes it or not. The recent rare earth licensing saga was just the tip of the iceberg; there will come a day when the gloves come off.
Don't want to hold RMB? Enjoy the inflation shocks and shortages in your country as your citizens kill each other in bread lines.
More and more Western news outlet are reporting on the restructuring of debt to RMB as part of China's push to side track USD in its global dealings.
Also looks at CIPS volume. We were up to 689B per day in September. The big jump was from 2023 to 2024 (123 to 175T)
This is very significant. A major reason why countries that don't want to get rid of the dollar in trade relations is that part or all of their respective debts are in dollars, which inhibits these countries from receiving currencies other than the dollar. In itself, it's a system that has allowed countries to become slaves to the dollar.
To reverse this, China is literally providing a solution: convert your debts to RMB and free yourself from dollar enslavement. Now you can accept trading in any existing currency, including the dollar itself, but without being forced to choose that option because of the perpetuation of your dollar-backed debt.
I remember you saying it was around 650B-700B a day for 2024, that seems roughly stagnant for 2025 then? Also that graph is weird the 764B in March is lower then the 678B in Aug?
depends on the day. Keep in mind that it will be higher in March, because there is less traffic in Jan/Feb due to CNY.
For example, October is lower per day at just 552B per day because we had the week long October 1st golden week.
But, if you can average 650B for the full year, that works out to well over 200T for the full year.
But yes, the growth from 2024 to 2025 isn't as large as from 2023 to 2024.
Yeah based of the 175T figure for 2024 its around 479.45B a day so just increasing to 600 range would still be a significant increase (slower rate then 2023-2024 tho). Also was that 682b figure on your image from last year instead of this year? The IMG you posted shows 682B for Oct but the live website does show 552B