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Randam Ron Paulism

A paper monetary standard means there are no restraints on the printing press or on federal deficits. In 1971, M3 was $776 billion; today it stands at $8.9 trillion, an 1100% increase. Our national debt in 1971 was $408 billion; today it stands at $6.8 trillion, a 1600% increase. Since that time, our dollar has lost almost 80% of its purchasing power. Common sense tells us that this process is not sustainable and something has to give. So far, no one in Washington seems interested.”
  —Ron Paul
 Paper Money and Tyranny, September 5, 2003

BREAKING: Chinese Central Bank Cuts Reserve Requirement Ratio By 0.5%

zhou china chinese BREAKING: Chinese Central Bank Cuts Reserve Requirement Ratio By 0.5%The People’s Bank of China has just cut the reserve requirement ratio for banks by 0.5% according to WSJ.

The cut is apparently due to take place on February 24.

It had been awhile since the last rate, cut, but recent hints from top leadership had indicated that one was coming.

While the country is still trying to choke off a housing bubble, there is obviously enough confidence about inflation being somewhat under check that easing can be undertaken.

This could provide a little juice for markets on Monday.


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