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After Record 10-Day Devaluation Streak China Fixes Yuan Stronger
Since The IMF 'blessed' the Yuan with the same ambivalence-to-currency-manipulation as the rest of the world's competitive devaluers, China weakened the currency for 10 straight days (a record streak). But the streak is over as tonight PBOC has decided to strengthen the Yuan fix (although admittedly by a small amount) to 6.4753 (barely off the 4 year lows).
It appears a pattern is developing...
10 days down and 1 day up... is the new "stability'
Chart: Bloomberg
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The working masses thank Vice Public Security Minister Meng Qingfeng ;-)
Oh He Li!
happy fucking christmas chinese serfs
I just love it when the Chicoms use Zionist paper to prop up their paper. Like watching crook #1 rip off crook #2.
'Crazy Ivan'. Just doing an unexpected quick circle to make sure nobody is following in their baffles. They always circle to the right in the bottom half of the hour. All you can do is cut power, make like a silent hole in the water and hope you don't drift into the back of them.
Hey! Who's up for some St.Pooty Nuuuz?
Suspected Russian warplanes kill scores in Syrian city - rescue workersEmphasis on the word "suspected"...of course!
https://finance.yahoo.com/news/jets-believed-russian-kill-scores-syrian-...
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Wut? ;-)
No shit? http://www.voltairenet.org/article189607.html
That's going to work well, uh, how? Yeah, time to send the Chinese version of Office Space with their own personalized staplers to the PBOC.
The peg is coming to an end sometime in January...
Well lets's hope the Chicoms use their SDR to drain that swamp first.
Eheheheheh.. :-D
Do you REALLY believe that China "done" with devaluations??
Eheheheheheh..
I wish the US would devalue as well; heck that's what FDR did in 1932 when he valued the dollar down 40% against gold. This led to an increase in US exports, rising US wages and prices, and easier debt servicing. Better yet, seize the Federal Reserve and loan 10 trillion to the states for infrastruture projects at 0% for 100 years.
China doesn't owe any foreign debtors squat. Their government wants a growing economy with rising wages that can service debt, not financial repression as is occuring in the US to maintain the value of debt instruments to the bondholders (the tribe). The middle class did very well in the 1970s compared to the 0.01%. But the US has become fascist much more than it was in the 1930's when there was still a union movement so even if inflation occured, the government will be used to still keep the 0.01% from losing. Oh well.
Well the us devalued InThe mid 80s after the japs bought up everything, I guess they will do it again after the chinks and who Eva do it this time ha ha flight to safety.
Chinamans:
Janet, we're ready for next rate hike now. Still got your back.
Prosperous, non threatening Holiday Season to you.