Today, I am sharing a January 12, 2024 interview of Yi Gang, former Governor of the People’s Bank of China, by 金融时报 Jinrong Shibao (literally Financial Times), a newspaper by the central bank.Pekingology
Yi obtained his Ph.D. in Economics from the University of Illinois Urbana–Champaign and became an Associate Professor with tenure at Indiana University–Purdue University Indianapolis, before going back to Peking University, his alma mater. He later joined the People’s Bank of China and rose through its ranks until heading it between 2018 and 2023.
Yi retired in July last year and his five-year tenure at the helm of China’s central bank is known for, according to Bloomberg, “a restrained policy approach focused on moderate stimulus and reducing financial risks in the economy.”
What is Yi Gang trying to say in his 1st interview after retiring from PBoC?
Zichen Wang
See also
In attrition war, on the economic front just like the Gaza and other fire fronts, the Axis of Resistance wins by maintaining its offensive capacities and operations for longer than the US and US-backed Israeli forces can defend. Like troops, tanks, and artillery pieces, the operational goal is to grind the enemy slowly but surely into retreat, then capitulation.How to measure if this is happening now to the Israelis in the international money markets?An international currency and bond trader answers by providing, first, a primer for each of the market indicators, and how to read them; and then a ready reckoner for the damage being done to Israel’s economic resources as those who operate in the money markets gauge their opportunity.For making money, you see, the opportunity of capitalizing on Israel’s defeat may soon be more profitable than investing in its success. When the markets see this chance at profit-making, usually long before the politicians and their captive media acknowledge it, there is an inflection point in the flow of money. That does its damage, not by hitting the Israelis and Americans in their bunkers with bullets and bombs, but by moving the money the US-backed Israeli entity needs out of reach, and cutting them off, both the US and Israel, from market confidence that they can win their war, genocide or not.The writer of this primer and money-market assessment has requested anonymity to protect against retaliation from the US, Israel or their allies.
Dances with Bears
Yves Smith comments on the above post here. She has some issues with it.
5 comments:
Americans wouldn't bet on the Zionist horse, so Congress does it for them.
What Israel lost are its innocent people to brutal savage cowardly murderers. It's not losing the war. It totally flattened Gaza. Have there been any rockets launched lately? Give me a break. All these idiots like Scott Ritter talking about Hamas winning. Ritter was also wrong as hell about Russia/Ukraine. John Helmer = asshole.
LOL I know Mike they could go in there in like a day and kill all of the Gaza people that are left..…
Same with the Yemen people… just bomb all their water supplies knock down their electricity and put a blockade around the whole country for food and sink anything trying to go in there they’d all be dead in a week… LOL!
Steve Keen: "On the Origins of Energy Blindness" | The Great Simplification #108
(Conversation recorded on December 14th, 2023)
Show Summary:
On this episode, economist Steve Keen offers a deep forensic history of why modern economic theory has neglected the role of energy in productivity - and why this “Energy Blindness” is now a major blindspot in how our culture views the present - and the future. The massive, temporary carbon surplus we’ve extracted over the last few centuries has resulted in an exponential increase in the standard of living for many. This explosion of global economic growth also happened to coincide with the development of all modern economic theories and formulas, leading to a core misunderstanding in the way our economies are powered. How have technology and innovation been used to cover up the role of a growing energy supply in the last century of rising prosperity? In the midst of discussions between value and labor, where does energy really fit into the equation? Where do we go once we understand the true role of energy in our economy - and will we have the ability to reshape economic policies to be in line with our energy realities?
About Steve Keen:
Steve Keen is an economist, author of Debunking Economics and The New Economics: A Manifesto. His new book, Rebuilding Economics from the Top Down, will be released in 2024. He is a Research Fellow at the Institute for Strategy, Resilience, and Security at University College in London. Steve was one of the handful of economists to realize that a serious economic crisis was imminent, and to publicly warn of it from as early as December 2005. This, and his pioneering work on modeling debt-deflation, resulted in him winning the Revere Award from the Real World Economics Review.
https://youtu.be/lrMWSkzrMYg
Viewers are urging Nate Hagens to interview Stephanie Kelton, so that podcast may be only a matter of time.
Post a Comment