An HSBC Holdings Plc study of 36 exchange rates this week found the appetite for using currencies to secure an economic advantage has increased over the last year.

While Bank of Canada Governor Mark Carney says the G-20 should embrace the G-7’s position, differences within the smaller group may limit the chances for reaching a consensus, and China may resist in line with its policy of managing the yuan’s value.

One comment on “An HSBC Holdings Plc study of 36 exchange rates this week found the appetite for using currencies to secure an economic advantage has increased over the last year.
  1. Disgusted of Tunbridge Wells says:

    I feel reasonably confident that a press release from the G20 will state how much they are all against currency war blah-de-blah, but that after the bun-fight in Moscow the recognised currency debasers will still have the printing machines going full-whack.

    Re German repatriation of Gold from New York… I think the plan is to have, as a starter, about 50 metric tonnes repatriated this year. Let’s see, there are 2204 lbs in a metric tonne, so 35264 ozs. Times 50, this gives 1.764million ozs (rounding up). There are 100 ozs in a Comex gold futures contract, I think. so the 50 tons would equate to 17,640 contracts. At 12.20 pm today EST the Comex has conducted almost 230,000 contracts. The whole 50 tonnes spread out over several months of purchases is a minute drop in the ocean. So any argument that the POG will be forced strongly upwards by virtue of the Fed having to buy on the open market to fulfill the German request may be a little optimistic. Feel free anyone to shoot down my figures. Math was never my strong-point!

Access The Max Keiser Podcast
Weekly Downloads, live Q & A Session and exclusive video posts from Max and Stacy

Subscribe Learn More
Buy Gold Online
Buy Gold Online
Watch the latest Keiser Reports:


Watch our Google Hangouts: