Keiser Report:

Petrodollar vs Petroyuan

Brics now call the shots!

We discuss the dollar at the bottom of the shampoo bottle and JPMorgan about to have a very cold winter. In the second half, Max interviews investor and businessman, Jerome Booth, about emerging markets in an upside-down world in which most investors have core-periphery disease.

Friday, 28 March 2014

China currency liberalization to be a 'seismic event': Australia

(Reuters) - China realizing its ambitions to internationalize the yuan is likely to be a "seismic event" for global markets, leading to large capital flows and perhaps a new reserve currency, a top Australian central banker said on Wednesday.

A bank clerk counts Chinese yuan banknotes at a branch of Industrial and Commercial Bank of China in Huaibei, Anhui province, June 8, 2012.

CREDIT: REUTERS/STRINGER

Australia (RBA) Deputy Governor Philip Lowe said the process had some way to go yet but that Beijing had signaled its seriousness by last week widening the trading band for the yuan, also known as the renminbi (RMB).

"The internationalization of the RMB - and China's associated move towards a liberalized capital