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Headline for now: Dow Jones: China To Gradually Adopt Floating Exchange-Rate System Under Management
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Watch the Yuan float down, not up.
They have two choices: (a) allow the yuan to float or (b) dollarization. In either case, will it be cheaper to produce in China or the United States? And, where will investment capital flow? The issue is capital not currency.
BTW: A peg is, in effect, dollarization.
They already freakin have one.
How do people suppose that peg is maintained?
Wonder how many pips the limits will be.
Floating exchange rate==death for the dollar.
Hope you've got gold and silver. Otherwise you'll be buying your grande mocha lattes with wheelbarrows of cash.
A necessary step on the road to usurping the world's reserve currency status.
"It does not matter how slowly you go so long as you do not stop" - Confucius
Although I understand and agree with your use of the term usurping, please also consider accepting as more contextually accurate, as in accepting a gift.
"Gradually"
One step closer to having their monetary system controlled by the Banking Cartel.
China can finally devalue!