...Is the Fed now emulating BoJ having to buy their own bonds?
...No bidders?
BREAKING: FED “NOT QE
The Fed bought $14.8 billion worth of 10 year bonds today. This is on top of the $20 Billion it bought yesterday. That’s $34.8 Billion in 2 days. “NOT QE” https://x.com/1CoastalJournal/status/1919805711502241942
...and Yuan getting gold-backed.
Because of the 2-Tier nature of the Chinese RMB Yuan, onshore and offshore; and the fact that China has capital controls for its domestic RMB Yuan, the Saudis needed extra assurances that the RMB Yuan can be freely convertible to physical #Gold.
''The Shanghai Gold Exchange International (SGEI) was the first step (as pointed out by @LukeGromen) but it wasn’t enough because the physical #Gold is located at SGEI vaults located in China. The Saudis needed extraordinary assurances.
The extraordinary assurances came in the form of SGEI vault that’s located in Saudi Arabia (announced recently by the Chinese government). This means the physical #Gold will be within Saudi Arabia jurisdiction. This means it is GAME ON!
