China’s Gold Stockpiling Is Dollar Warning Sign

2 days 9 hours ago
One of the worst-kept secrets in global central banking is the extent to which Chinese officials are swapping dollars for gold. Governor Yi Gang’s team at the People’s Bank of China isn’t admitting as much. The PBOC doesn’t have to, though, given the clear policy trajectory Chinese leader Xi Jinping has pursued in recent years: internationalizing of the yuan as the top rival to the dollar.

Ghana Plans To Buy Oil With Gold Instead of U.S. Dollars

2 days 12 hours ago
Ghana's government is working on a new policy to buy oil products with gold rather than U.S. dollar reserves, Vice-President Mahamudu Bawumia said on Facebook on Thursday. The move is meant to tackle dwindling foreign currency reserves coupled with demand for dollars by oil importers, which is weakening the local cedi and increasing living costs.

Housing Market Obliterated: Pending Home Sales Post Record Drop As Deal Cancelations, Price Cuts Hit Record High

2 days 12 hours ago
Last week, we observed that delusion and hope can only last so long (even when one's salary depends on it) as US homebuilder confidence crashed to COVID lockdown lows in November after failing (or refusing) to see what was obvious to everyone for months, and what homebuyers were clearly feeling as prices soared along with mortgage rates and record low affordability for most Americans.
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3 hours 56 minutes ago
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