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China Fixes Yuan At Weakest Since August 2011 After 45th Consecutive Month Of Deflation
Chinese Producer Prices have now fallen YoY for 45 consecutive months and November's 5.9% YoY drop is the largest since the crisis in 2009. Following weak trade data overnight (and with The IMF having blessed any and all currency movements), it appears Chinese authorities have decided to do something about and continue the slowest, quietest, stealthiest currency war in the world. With today's Yuan fix, PBOC has weakened the Yuan back below the August devaluation lows, back to its weakest against the USD since August 2011. Judging by Offshore Yuan, there is a lot more weakening to come.
PPI dropped the most since 2009...
So China 'devalued' the Yuan a little more... to August 2011 lows...
But judging by Offshore Yuan weakness, there's more 'devaluation' to come...
And all with the new blessing of The IMF...
Because if Japan can, then China can too.
Charts: bloomberg
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Just wonder how they can include it into SDR if the devaluation is this stealth...
It don't matter - they converted a bunch of American WalMart plastic shit revenue into another 21 tons of gold this last month as well.
Them boys aren't hurting too much.
China indirectly controlling U.S. monetary policy again... guess that means the rate rise is off the table... should we expect more chemical explosions?
https://www.goldmoney.com/our-research/market-updates/china-and-the-dollar
Just wonder how they can include it into SDR if the devaluation is this stealth...
I just checked, it doesn't look like anything has blown up yet.
BSMT
Better sell moar treasuries....
China is doing this to piss the Zionist/US off - Go China !
LoL!Yet another joke. 1.3 Billion Chinese and they think that they can control them with a "Printing Press." LOL!
Fuck it....Raise Rates and let the chips fall where they may....
That was bad for the US stock markets the last time; I smell a huge play on shorts only to be squeezed.
Could this be a classic head fake before China renegotiates all her deals and shorts treasuries??????????
How can the rise of the, debtless, Chinese consumer in a relatively debt free economy, with respect to American debt level, be stopped by any force on Earth????
The Chinese economy is almost self contained. China hordes their debtless consumers from the clutches of the moneylenders! It is the next bubble. The hordes will be released; it is just a matter of time.
Germany has already converted its high-end brands for Chinese markets and also markets integrating into the EU....like Greece. Angela has sold many cars this past decade. Every household in Greece bought a German car with all the free EURO they got when Goldman-Sachs cooked their books to get them on the EURO dole. I noticed the phenomenon from 2007-2014. I suppose it continues????? Nice little mini BMW and AUDI......no Japanese.
The Germans have played the recession beautifully. They have full employment and trade agreements worth a trillion Reichsmarks! Every trip I made I noticed new installations with Thyssenkrupp logos everywhere. Somethings never change.
I cannot think of anything preventing the Chinese from pulling the rug and releasing their consumers to inflate the mother of all bubbles?????
Yeah, China and its currency are surely going to replace the USA and USD any minute, they are SO SO SO ready to be the world monetary, economic, financial and military leader.
[I had to take tranquilizers to stop laughing long enough to write this]
Take some more Valium and just fall asleep ..
You forget Putin in all this ..
http://www.veteranstoday.com/2015/12/08/putins-next-move-on-the-grand-ch...
PMs are the most powerful drug, you clearly are high on them.