Peoples Bank of China

October 30th, 2009 8:15 am | by John Jansen |

A friend of the blog forwarded this link regarding withdrawal of liquidity by the Peoples Bank of China.

When I was a young long haired fellow with big sideburns I owned a copy of “Quotations From Chairman Mao”. I do not recall a chapter on monetary policy in that publication.

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  1. 4 Responses to “Peoples Bank of China”

  2. By Economic Darwinism on Oct 30, 2009 | Reply

    Hi John,

    I didn’t understand your last sentence and would be interested in knowing what you meant (or implied).


  3. By zjin on Oct 30, 2009 | Reply

    Chairman Mao did say that there are major conflicts and minor conflicts. When you solve the major conflicts, the minor conflicts will become much easier to solve.

    So his idea is really behind all the Chinese monetary policy. First half in 2008 there was inflation-the major conflict at the time. The 2nd half there was crisis and large scale lay off-unemployment became the major conflict. After they print so much money this year, they found that unemployment problem is not as bad as they feard. But an asset bubble is forming or has formed, so the major conflict changes again.

    Seriously, you should keep that “Quotations From Chairman Mao” today.

  4. By Economic Darwinism on Oct 30, 2009 | Reply

    I think we should send a copy of it to Bernanke as well 🙂

  5. By diego de la vega on Nov 2, 2009 | Reply

    oh, there ar a lot of texts by mao tse tung on the aspect of the bond markets. didn’t he issue lots of them to win the war from the very beginning? i don’t have the exact text title, but i can look it up in case you’re interested.

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