Sinclair is over "visiting" in China. His report tonight speaks directly to the welcome he and TRE are receiving.
"The hotel is decadent in its comforts. It arguably tops the palace of Versailles.
It is 5 AM so that is a good sleep for night number one. I received full VIP treatment at the airport to the fullest extent imaginable.
No customs.
Met by airport staff.
Identified my bags.
Golf car waiting.
I was taken to a meeting room that was a replica of the Emperor’s royal palace interview room. There I was served tea.
Following the tea, I was taken to a waiting Mercedes that was for some reason accompanied by a black steroidal Hummer chase vehicle.
I was driven to my hotel and escorted immediately to my room.
Do you think my Chinese partners are open for business?"
***
"The management of perceptions concerning the Chinese dollar position is that it is only talk pointing to what is interpreted as a flip flop between unfavourable statements to the dollar last week from the highest of sources to statements today that this is not quite true. The people who write this have no sense of how negotiations work in Asia. The esteemed financial leadership in the West would be well advised to read the book, “When Yes Means No."
The second point is the strange belief that China has no means of exiting the US dollar and dollar denominated instruments because they have only one alternative and that is selling directly into the world market for dollars and dollar denominated instruments. This is so misinformed that it is total nonsense. Every time a major Chinese entity makes a foreign acquisition or joins in a foreign project the funding finds its way back to the official dollar position and reduces it for an asset, be it in or above the ground.
The dollar life expediency is 129 days.
I mean that. I believe that."
Posted: Jun 29 2009 By: Jim Sinclair
https://jsmineset.com/