Results 1 to 2 of 2

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

  1. 08-27-2010, 05:26 PM #1
    patbrunz
    patbrunz is offline
    Senior Member patbrunz's Avatar
    Join Date
    Jan 2006
    Posts
    3,590

    Banks back switch to renminbi for trade

    The Renminbi is the currency of the People's Republic of China. Not a good sign. . .


    Banks back switch to renminbi for trade
    By Robert Cookson in Hong Kong

    Published: August 26 2010 17:55 | Last updated: August 26 2010 17:55

    A number of the world’s biggest banks have launched international roadshows promoting the use of the renminbi to corporate customers instead of the dollar for trade deals with China.

    HSBC, which recently moved its chief executive from London to Hong Kong, and Standard Chartered, are offering discounted transaction fees and other financial incentives to companies that choose to settle trade in the Chinese currency.

    “We’re now capable of doing renminbi settlement in many parts of the world,â€
    All that is necessary for evil to succeed is that good men do nothing. -Edmund Burke
    Reply With Quote Reply With Quote
  2. 08-27-2010, 07:20 PM #2
    Bowman
    Bowman is offline
    Senior Member Bowman's Avatar
    Join Date
    Mar 2006
    Location
    North Mexico aka Aztlan
    Posts
    7,055
    Well the RMB is more stable than the dollar, as is the Chinese economy.

    Our "leaders" have sold us out.
    Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
    Reply With Quote Reply With Quote
« Previous Thread | Next Thread »

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Forum Rules