It is the 20th of August 2017

News

China's $9 Trillion Shadow Banking System Shrinks For The First Time In 9 Months

On the surface, the latest Chinese credit data reported overnight by the PBOC was not particularly memorable: new loans tumbled from the near record 1.540TN Yuan in June to only 825.5BN in July, just above the 820BN expected, while Total Social Financing also declined substantially from June's 1.78TN to 1.22TN, also beating the 1TN estimate. While both July prints were a steep drop from June - reflected in Monday's miss in retail sales, industrial production and capex - they were a significant increase from the year ago numbers. At the same M2 dropped to a new record low, sliding from June's 9.4% to 9.2% in July, missing expectations of a modest rebound to 9.5%.

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Gold Has Yet Another Purpose - Help Fight Cancer

- Gold has yet another purpose and may help fight cancer
- Gold increases effectiveness of drugs used to treat cancer cells by acting as catalyst - research shows
- Use of gold in technology and health growing each year
- Tech use to increase- number of patent applications in 2017 grew
- Industrial applications such as solar and bio-metrics reduce availability of above ground supply and gold for investment
- Another string to the bow of gold and potential impact on sentiment towards gold and on the gold price
- 'Could gold finally have a purpose?' bizarre headline ignores gold's 2,500 plus year history as a means of exchange, money and a store of value

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Chinese Bank Suffers 'Rare' Bank Run, Police Arrest "Rumor-Spreaders"

Chinese police questioned 27 people, detained 12 and "severely" reprimanded 15, over the spreading of gossip about Linshang Bank - a lender with 61 billion yuan ($9.1 billion) in deposits - which caused a rare bank run in Eastern China.

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