betekenis van het woord OCTOBER

Top 5 nieuwe megaprojecten in Dubai

Dubai developers left no stone unturned as they announced multi-billion dirham master developments and real estate projects that will change the landscape of the emirate in the coming few years.

Dubai developers left no stone unturned as they announced multi-billion dirham master developments and real estate projects that will change the landscape of the emirate in the coming few years.

The biggest of the all was Dubai Holding’s announcement of Dh25-billion Mall of the World, which is set to break ground early 2015. The mall will be completed in different phases that will take 10 years to complete.

As Dubai prepares to host Expo 2020, which will run from OCTOBER 2020 to April 2021, Dubai Parks and Resorts, a Meraas Holdings’ subsidiary, revealed plans for three theme parks, construction on which has already started.

China: ‘Internationalisation of Renminbi is planned in three phases’

In OCTOBER the first roadshow for the internationalisation of the Renminbi started during a OMFIF-seminar  on the ‘Renminbi-isation’ of the Chinese currency. I attended this meeting and would like to share the minutes of this important seminar;

In OCTOBER the first roadshow for the internationalisation of the Renminbi started during a OMFIF-seminar  on the ‘Renminbi-isation’ of the Chinese currency. I attended this meeting and would like to share the minutes of this important seminar;

As Chinese trade and investment grow, so does demand for the renminbi. China is seeking to ‘normalise’ its currency, working towards convertibility, increased use in global trade invoicing and settlement, and eventually international reserve currency status.

The internationalisation of the currency is planned in three phases, said Tu Yonghong, director of the International Monetary Institute at Renmin University. First, it will be used for international trade through China’s onshore hubs; then it will be used across Asia; and finally it will become a global currency.

Standard Chartered, which monitors seven offshore centres including Singapore and Hong Kong, estimates that global use of renminbi has already increased 20-fold since 2010.

Kredietverlening in de Eurozone neemt verder af

FRANKFURT. — A sharp contraction in lending to businesses in the eurozone coupled with slowing money supply growth suggests the region’s fight against deflation may not be over, analysts said yesterday. Regular monthly data compiled by the European Central Bank showed private sector loans in the single currency area dropped by 2,1 percent in OCTOBER in a year-on-year comparison, after already contracting by 2,0 percent in September.

JPMorgan's goudvoorraad krimpt met 65% in 24 uur

We are confident that in the aftermath of our article from last night "Just What Is Going On With The Gold In JPMorgan's Vault?" in which we showed the absolute devastation of "eligible" (aka commercial) gold warehoused in JPM's vault just over the Manhattan bedrock at 1 Chase Manhattan Place (and also in the entire Comex vault network in the past month), we were not the only ones checking every five minutes for the Comex gold depository update for April 25. Moments ago we finally got it, and it's a doozy. Because in just the past 24 hours, from April 24 to April 25, according to the Comex, JPM's eligible gold plunged from 402.4K ounces to just 141.6K ounces, a drop of 65% in 24 hours,and  the lowest amount of eligible gold held at the vault on record, since its reopening in OCTOBER 2010!

Massale interesse voor zilveren munten in China

I have been in China for the past few months and I have been witnessing the silver and gold demand first hand at ground zero. Let me tell you. At first, I was quite stunned to see the small silver and gold shops that sell everything but the bullion rounds we are used to seeing back in the states like ASEs, Maples, Krugerrands, and even Chinese Pandas (these are only legally sold at the National Chinese Banks like Bank of China, ICBC, etc).

The reason I was stunned is that I did not witness the typical scene described back in Western websites about the massive PM demand in China when I first arrived in OCTOBER. Of course there is a lot of retail demand in China for silver and gold but the bulk of this retail demand appears to comes around the Chinese new year (which is Feb 9 this year).  The typical scene at a silver/gold store did not impress me. This changed very quickly as the Chinese buying habits according to a Western mind (me) are not very predictable and appear to be lemming like or Giffen-good esque. In other words, if they see that something will increase their prestige or esteem and people are catching on, then all of a sudden like a tidal wave, everyone will start buying it, wearing it, or doing whatever “it” is. This is a common trait in South Korea, where 1 product or musician can become very popular out of no where. One has to keep in mind that in general, Asia, which is not based on Judeo-Christian norms, is an area all about perception, prestige, and not losing face.