China's Central Bank Stops Buying FX Reserves

PBOC no longer sees benefits to increase FX reserves (Barcelona) - The People’s Bank of China has given a hint to the market about its re-think on increasing its foreign currency reserves of more than $3.7 trillion from $3.5 trillion in late June, saying they no longer see any benefits.

My view:

China has concentrated its focus away from foreign currencies to the ultimate currency.


The only currency not tied to a sovereign government that constantly attempts debasement through inflation and debt.

With gold prices dropping once again, watch those clever Chinese back up the truck and load up.


  1. Ill be buying gold the whole way PW, I'm not playing follow the crowd in this Helium balloon market ...This reminds me a lot like 05 when everyone was buying housing I was shorting and in 08 when the crowd was saying jump into stocks the water is warm I was shorting...Nothing but time :)

    Also PW keep an eye on NGB, yes Greek banks..


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