China's Government Has More Money Than You Can Imagine

[onebyone]

The Chinese have more money than God.

Their central bank has more money in its foreign currency reserves than the entire economies of Brazil, Mexico and Russia produce annually.

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And in September, for the eighth month in a row, despite Beijing alone dishing out $26.6 billion per month in 2016, for a total of $320 billion, which is what Brazil has in its central bank reserves, the People's Bank of China (PBoC) has ... even more money than it did in August.

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China can buy Venezuela in cash if it wanted it, and still have trillions of gold coins and dollar bills and euros available to prop up its own currency.

 

[onebyone]

Kenneth Rapoza , CONTRIBUTOR
I cover business and investing in emerging markets. Opinions expressed by Forbes Contributors are their own.

Shutterstock

Every time you hear an financial pundit on Fox Business News, CNBC or Bloomberg talk about global liquidity being part of the core central banks handing out free dollars and donuts to investment banks for the past 8 years is missing one substantial sidebar: China. The Chinese have more money than God. Their central bank has more money in its foreign currency reserves than the entire economies of Brazil, Mexico and Russia produce annually.

And in September, for the eighth month in a row, despite Beijing alone dishing out $26.6 billion per month in 2016, for a total of $320 billion, which is what Brazil has in its central bank reserves, the People's Bank of China (PBoC) has ... even more money than it did in August.

Forex reserves rose by a whopping $17 billion in September to reach a total of $3.109 trillion, following a $10.5 billion increase in August, the PBoC said over the weekend. To put that into perspective, in August, China added more money to its bank savings account than what Venezuela has in its central bank. Then doubled it in September. China can buy Venezuela in cash if it wanted it, and still have trillions of gold coins and dollar bills and euros available to prop up its own currency.




Economists polled by Reuters expected reserves to rise by just $8 billion. This is the first time in three years that the PBoC accumulated reserves for 8 consecutive months. The consistent rise has led some analysts to believe the PBoC will buy more foreign currency this year than it dishes out to the market in the form of bailouts, currency support and special bank loans.

Also in the PBoC data, outbound non-financial investment dropped 41.8% in January-August from a year earlier as authorities crack down on what they call “irrational” overseas projects by Chinese individuals and corporations. The State Council said in August that China will cap overseas investment primarily in real estate and Hollywood assets.


https://www.forbes.com/sites/kenrap...more-money-than-you-can-imagine/#53b6452663c4

 

[meis]

All I know is that "they" are buying up all kind of shit, including french wines, tech companies, ports, mines and fackloads. And also building towns or districts (or whatever you like to call it)... including in my country. *Ahem* in Africa too.

Bought Brazil's bank.
https://www.ft.com/content/22c8e1b4-4112-11e3-8775-00144feabdc0?mhq5j=e6

 

[rambro]

Not surprised at all because they did not spend on overthrowing other governments, financing proxy terror groups and bombing other countries to rubble.

They allocate to building domestic/foreign infra, trade buy/sell and on themselves.

 

[nang2]

Pretty much every government has a money printing machine.

 

[TaiShang]

Simple. China does not help terrorists. It helps itself. The US does help terrorists (as per Trump's revelations) and the money goes to corrupt systemic controllers in the country.

The US is in a state of systemic/institutionalized corruption. It cannot be resolved sans a civil war and disintegration so that the new US would come out as a more compact country (1/3 of today) with the best and brightest of its population.

But, this OP is also misleading in that, despite everything, China is a developing country with target to end poverty by 2020.

China's developmental needs are bigger than its resources.

 

[AndrewJin]

Simple. China does not help terrorists. It helps itself. The US does help terrorists (as per Trump's revelations) and the money goes to corrupt systemic controllers in the country.

The US is in a state of systemic/institutionalized corruption. It cannot be resolved sans a civil war and disintegration so that the new US would come out as a more compact country (1/3 of today) with the best and brightest of its population.

But, this OP is also misleading in that, despite everything, China is a developing country with target to end poverty by 2020.

China's developmental needs are bigger than its resources.

Merika's power is for big corporates, not ordinary Merikan people.
Sad but true fact.

 

[Jlaw]

Simple. China does not help terrorists. It helps itself. The US does help terrorists (as per Trump's revelations) and the money goes to corrupt systemic controllers in the country.

The US is in a state of systemic/institutionalized corruption. It cannot be resolved sans a civil war and disintegration so that the new US would come out as a more compact country (1/3 of today) with the best and brightest of its population.

But, this OP is also misleading in that, despite everything, China is a developing country with target to end poverty by 2020.

China's developmental needs are bigger than its resources.

US spend 65% of its yearly Budget on the military and very little on everything else. Their collapse is imminent

 

[ohmrlobalobayeh]

this is why all countries knows china's intentions n motives, which is only

They know that China is not interested in their affairs or human rights. they can be killing their own citizens and know China will not care(read the wordings in my avatar lol). That doesnt means CHina doesnt condemn any inhumane acitivities- she merely doesnt care about whether they r happening in other nations. It's every1 for himself. The fact that we begin every sentence with a 'I' proves of the self-centeredness of human nature.

China is indeed a self-serving nation- which isnt? all countries work for their self-interests and in China's case, it is money.

hence the reason why China is the 1 who controls the world's finances- not the US who is running on borrowed money.

 

[my2cents]

Merika's power is for big corporates, not ordinary Merikan people.
Sad but true fact.

While China's 1% own 1/3rd of wealth- talk about inequality.

 

[beijingwalker]

While China's 1% own 1/3rd of wealth- talk about inequality.

Where did you get this number? and China has the world biggest middle class, how about India?
https://www.thenational.ae/world/as...equality-levels-for-almost-a-century-1.628196

 

[RowdyRathore]

China does not help terrorists.

Is that a some kinda joke? China blocked India's move in UN to ban terrorists organisation, a number of times. Even I've lost the count.
unfortunately if you live in China, i can't blame you.

 

[my2cents]

Where did you get this number? and China has the world biggest middle class, how about India?
https://www.thenational.ae/world/as...equality-levels-for-almost-a-century-1.628196

 

[beijingwalker]

China has the world biggest middle class, China was extremely equal during Mao's era, like today's North Korea, that's not what we want, now the Chinese people has much more wealth at their disposal that most Indians can only dream.

China’s middle class is exploding

http://www.businessinsider.com/chinas-middle-class-is-exploding-2016-8

 

[AndrewJin]

While China's 1% own 1/3rd of wealth- talk about inequality.

Allianz global wealth report 2015

Supa Powa in reality is like Sub-Sahara Africa, or even worse.