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Tuesday, November 11, 2008

Do China's Central Bankers Read My Blog?

I made a suggestion about wearing a "666" tattoo as a Halloween costume.

I was amused by this article, cited many other locations:

The People's Bank of China said on its Web site that it was reducing the benchmark one-year deposit rate by 27 basis points to 3.60% from 3.87%. It also cut the one-year lending rate 27 basis points to 6.66% from 6.93%. A basis point is 1/100th of a percentage point.

It's amusing that the Bank of China set the lending rate to 666 basis points. In China, the central bank sets both a deposit rate and lending rate. It's functionally equivalent to the US system.

In China, the interest rate is always a multiple of 0.09%, to facilitate abacus calculations based on a 360 day year.

2 comments:

DixieFlatline said...

Maybe they have been spying on your abacus. :)

fritz said...

I would like to start off by saying I think we are screwed.

I have this great desire to look for the good,see the best in situations,believe in the idea that everything happens for a reason,and that reason is for the greater good.

But at the same time I have this feeling,deep inside. That there is a tidal wave forming off the coast. One that will crash into us with such furry that no one could be ready for such an event.

Not a tidal wave of water,but one of suffering and poverty.

It is said that when America sneezes, the rest of the world catches a cold.

America is not healthy,the rest of the world is becoming more Ill by the minute.

we are living in the time of the great change.I would love to be just living on my comfortable couch,but I'm not,But at the same time I wouldn't give my position in history for any other event.

The future is undecided,seems bleak,but men with minds know that we control our own destiny. I know this to be true. If given another place in time,I would chose no other than now. I came here for today and will never back away.

After reading my writings you must understand that I am more into philosophy than analysis.

But I would like to praise FSK at this point for leading people towards another understanding.One that uses current facts,with a twist,and possible paradox of understanding.

just remember that everything you read isn't true.facts can be interpreted in many ways.your truth is your own.And keep to your convictions.

Just like apples of gold in pictures of silver. perception is reality,and perspective will always alter your perception.

This Blog Has Moved!

My blog has moved. Check out my new blog at realfreemarket.org.