$520B US China increased money supply in Jan

[TOM4CWB]

Was just watching Bloomberg.

China added $520B US to its money supply in January.

Looks like since China currency is cheaper... and China likely to ease on Interest while US raises..

So China repatriated many outstanding loans... from other currencies.

40 percent more than the peak money supply increase at height of 2009 global monetary crisis.

[TOM4CWB]

I see $CDN is at $72.65 USD$ now...

Canola up $2...and US old crop up 4.4cents HRS

[TOM4CWB]

Brent Crude $34.69; WTI over $30.60/B

[TOM4CWB]

China New Credit Surges to Record on Seasonal Lending Binge
February 15, 2016 — 7:02 PM MST Updated on February 15, 2016 — 8:22 PM MST

http://www.bloomberg.com/news/articles/2016-02-16/china-s-new-credit-surges-in-january-on-seasonal-lending-binge

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China’s broadest measure of new credit surged to a record as a seasonal lending binge coincided with a recovery in property prices, and as companies paid back foreign currency loans amid yuan weakness.
Aggregate financing rose to 3.42 trillion yuan ($525 billion) in January, according to a report from the People’s Bank of China on Tuesday, compared with the median forecast of 2.2 trillion yuan in a Bloomberg survey. New yuan loans jumped to 2.51 trillion yuan, also a record and beating the median estimate of 1.9 trillion yuan."...

The strong figures were helped by banks front loading their 2016 lending targets, companies switching foreign currency loans into yuan ones, and strong corporate bond issuance. To be decided is whether the acceleration in lending will translate into a sustained pick up in economic growth.
"Chinese banks expanded their balance sheet aggressively in the first month of this year, which implies an implicit support from the government to counter the economic slowdown," said Zhou Hao, senior economist at Commerzbank AG in Singapore. "In addition, Chinese corporates should have turned to onshore for funding, while offloading some external borrowing."

Quite a deal... China saving the world...

[errolanderson]

Tom, this is an intensifying global currency war and cold war between central bankers under the guise of 'stimulus'.

This will simply not end well. Ironically, stock markets up today because of 'stimulus'. Gold is down because of 'stimulus'. A real market mess . . . .