GOOD NEWS FOR CRYPTO CURRENCY TRADERS: China’s central bank chief vows support amid ‘weak links’

 The economy of the People Republic of China will return to its potential growth rate in 2022. According to Yi Gang,  various challenges will require the central bank to maintain a supportive monetary policy stance.

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“We will keep our accommodative monetary policy flexible and appropriate, and increase support for key areas and weak links in the economy,”  this was said by Yi in a videotaped speech Wednesday ahead of a meeting of central bank chiefs and finance ministers from the Group of 20 nations in Jakarta.

Volatile internal and external conditions will create challenges for the economy and require more counter-cyclical policy adjustment, he said.

While the PBOC held its policy interest rates steady on Tuesday, many economists expect further easing in coming months. Inflation data on Wednesday added to those calls, with both consumer and factory inflation slowing more than expected in January, and the core consumer price index, which strips out volatile food and energy costs, indicating weak domestic demand.

The central bank projects China’s potential growth rate, or the maximum the economy can expand without fueling inflation, is about 5%-5.7% in the five years through 2025. The objective of monetary policy should be to match actual output with potential, it said in a paper last year.

Economists polled by Bloomberg forecast growth will slow to 5.2% this year after surging to 8.1% in 2021 during the economy’s post-pandemic recovery period.

Yi spoke alongside Bank Indonesia Governor Perry Warjiyo on a panel discussing how emerging markets can manage the risks of monetary stimulus withdrawal. With the Federal Reserve expected to hike interest rates at least six times, and other major central banks already tightening policy, emerging markets are facing the risk of capital outflows and weaker currencies.

The PBOC hinted at those concerns in its quarterly policy report last week, suggesting it’s paying more attention to the actions of other central banks. The policy divergence between the Fed and PBOC has reduced the yield premium of Chinese government bonds to U.S. Treasuries, increasing the threat of portfolio outflows.

Yi called on emerging economies to increase regional financial cooperation, with a focus on growing the use of local currencies.

Currency swaps that central banks in Asia have set up helps enhance the regional financial safety net and facilitate bilateral trade and investment, Yi said. China is ready to work with other Asian economies to promote the use of local currencies, he said.

“Central banks from advanced economies should continue to enhance market communication,” Yi said. “Meanwhile, emerging markets should improve their resilience. This is where regional financial cooperation has a key role to play.”

MONETIZING YOUR SKILLS: Making Money with Money VS Making Money Without Money.

Early this morning as I lie on my comfy bed reminiscing on my ever increasing schedules today, these thought crept into my mind, “if you cannot make money with money, you may probably not be able to make money with money”.

I began to brood on what the above statement actually means and was able to come up with a layman explanation after many hours of brainstorming.There are two faces to the above statement. One is making money without money and the other is making money with money.

....Here is what I think.

Firstly, making money without money connots doing business as a primary and active source of income.

Secondly, to make money with money means to invest into asset as a secondary but passive source of income. 

......Now here is the deal for YOU!

The first thing for you as an individual to start attracting opportunities to make income is to make money without money. Yes, you read right, make money without money!

That can be done by developing a cashflow expertise which can help you render a service to clients or sell a product to customers. For instance, assuming you bake cake (that is your cashflow expertise).

So all you need to do is to use your expertise (cashflow expertise which is cake baking) to transform raw materials (flour, sugar, milk, flavours) into finished consumer goods (cake) for consumers. That is, turning your skills to money or monetizing your skills.

Or, lets say you learnt tailoring or graphics designs. All you need to do is to use your cashflow expertise to solve problems for your customers or clients.

Boom! They will pay you.

Then what do you call that? Making money without money? So once you have developed a cashflow expertise as above you are then in the right position to earn as high as 6-figures as income depending on your quality of work and marketing skills.

Once this is established, you can then start using part of your income to invest into other income vehicles that can increase you cashflow.

One major mistake people make especially fresh graduates and undergraduates is that they always complain about lacking capital. Meanwhile the capital you need is your expertise which will bring in the cashflow.

Secondly, neglecting the days of little beginning is like going contrary to the biblical injuction not to do so. The quick money-making syndrome as well as unrealistic expectation from the society has made those sticking to principles seem confused and irrelevant. Their efforts and progress are grievously mocked.

Finally my  recommendation is  that you focus on learning and mastering a cashflow expertise, become an expert in it and before you know it; boom! 

My question to you today is: what cashflow expertise do you have or are you willing to learn so as to have that financial freedom you desire?

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