LONDON, Sept. 12 (Xinhua) — British Chancellor of the Exchequer George Osborne announced Friday that the British government intend to issue a Renminbi denominated bond and to use the proceeds to finance the government’s reserves of foreign currency. “I can now announce that the UK government intend to be the first national government outside of Read the full article…

The London based financial think thank OMFIF carried out an 11-day tour of Asia on 14-25 July encompassing six financial centres. The tour benefited from 48 top-level conversations among them heads of central banks and sovereign funds, other senior government and central bank officials, leading investors, pension funds, economists and academics. OMFIF concludes that the renminbi is Read the full article…

CRUP: ‘China’s position in the world’s currency and financial system will undergo fundamental changes’  One of the leading academic publishers in China, China Renmin University Press (CRUP), will publish the Chinese translation of The Big Reset in 2015. The bestseller was first published early 2015 by Amsterdam University Press (AUP) in cooperation with University of Read the full article…

According to David Marsh the new New Development Bank (NDB) is a ‘clear potential rival to the International Monetary Fund (IMF) and the World Bank’.   In a first analysis he says the NDB ‘represents the biggest challenge to the world monetary establishment since the creation of the Bretton Woods institutions 70 years ago. He lists the Read the full article…

Industrial and Commercial Bank of China (ICBC), the largest bank of China, and second largest in the world, recently confirmed that ‘a new global currency setup is being conceived’.  The news, first published by Bullionstar.com, came after Jeremy East, Managing Director at Standard Chartered Bank, asked Zhou Ming, General Manager of the Precious Metals Department at Read the full article…