• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Senate Passes China Currency Legislation Bill 63-35

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Tue, 10/11/2011 - 18:44 | 1763210 mynhair
mynhair's picture

Let me guess:  all Dims and RINOs voted aye.

Tue, 10/11/2011 - 19:03 | 1763295 max2205
max2205's picture

Another law to be ignored and not enforced. Just like the others

Tue, 10/11/2011 - 19:16 | 1763356 dlmaniac
dlmaniac's picture

Senators believe they can bite the hand and still get fed.

 

Tue, 10/11/2011 - 20:28 | 1763609 Money 4 Nothing
Money 4 Nothing's picture

Two wings of the same bird, don't look at their Dem Repub alliance, look at their voting record.

Tue, 10/11/2011 - 22:28 | 1764111 dark pools of soros
dark pools of soros's picture

look for who buys their hookers and blow

Tue, 10/11/2011 - 18:45 | 1763211 supernova
supernova's picture

I love it that no politician mentions the truth: China manipulates our currency by buying our debt and financing our deficit.

Tue, 10/11/2011 - 18:45 | 1763214 jcaz
jcaz's picture

Great time for a turf war!

Tue, 10/11/2011 - 18:47 | 1763220 mynhair
mynhair's picture

Get your effing dog off my lawn!

Tue, 10/11/2011 - 19:36 | 1763444 Arkadaba
Arkadaba's picture

My dad is bigger than your dad!

Tue, 10/11/2011 - 18:46 | 1763218 SilverIsKing
SilverIsKing's picture

One stipulation though...

All compensation must fit inside a fortune cookie.

Tue, 10/11/2011 - 18:49 | 1763229 mynhair
mynhair's picture

Thorium?

Tue, 10/11/2011 - 18:47 | 1763222 carbonmutant
carbonmutant's picture

So what's the message...?

Tue, 10/11/2011 - 20:06 | 1763542 BurningFuld
BurningFuld's picture

It suddenly becomes clear why all the Chinese are buying property in Vancouver.

Tue, 10/11/2011 - 20:19 | 1763577 Cabreado
Cabreado's picture

Hubris + Influence + Ignorance = Turmoil

Tue, 10/11/2011 - 18:48 | 1763225 nmewn
nmewn's picture

With some cross overs by the count.

Attention Walmart shoppers ;-)

Tue, 10/11/2011 - 18:48 | 1763226 Western
Western's picture

There's no evidence that a rising yuan will lead to a bilateral trade deficit.

Tue, 10/11/2011 - 18:49 | 1763228 Id fight Gandhi
Id fight Gandhi's picture

Close the ports down, ship all the shit back to china. Fuck em.

Americans can even make a plastic cup or a nail anymore. Some chinaman has to do it.

Tue, 10/11/2011 - 18:50 | 1763235 mynhair
mynhair's picture

Fergot a 't'.  F for effort.

Tue, 10/11/2011 - 19:04 | 1763303 Dumb Honkie
Dumb Honkie's picture

You sound like a stupid HONKIE mother fucker. go home fuck your ugly mama.

Wed, 10/12/2011 - 05:27 | 1764801 Freewheelin Franklin
Freewheelin Franklin's picture

Comparative advantage, what is it?

Tue, 10/11/2011 - 18:50 | 1763230 Alvaro de Esteban
Alvaro de Esteban's picture

When goods do not cross borders, soldiers will.”
? Frédéric Bastiat

“Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone.”
? Frédéric Bastiat
Tue, 10/11/2011 - 18:50 | 1763231 Clint Liquor
Clint Liquor's picture

The Swiss devalued their currency by 10% in an hour and China is a currency manipulator?

Tue, 10/11/2011 - 18:51 | 1763241 mynhair
mynhair's picture

Trump the Chump sez so, so it must be true.

Tue, 10/11/2011 - 19:11 | 1763325 legal eagle
legal eagle's picture

Check mate.

Tue, 10/11/2011 - 18:50 | 1763233 PaperBear
PaperBear's picture

KABOOM.

Another volley in the currency war.

Tue, 10/11/2011 - 18:51 | 1763236 Comay Mierda
Comay Mierda's picture

cue treasury dump in 3... 2... 1...

Tue, 10/11/2011 - 18:52 | 1763237 depression
depression's picture

We just mad cuz China quit buying our worthless Treasury debt and are buying up all the Gold, Silver and rare earth metals on the planet.

Tue, 10/11/2011 - 18:53 | 1763245 mynhair
mynhair's picture

Slight correction:  mines, as well as physical.

Tue, 10/11/2011 - 19:46 | 1763478 Arkadaba
Arkadaba's picture

And oil and gas at least in Canada. Most Canadians are not aware of the buying spree that is going on but they should be:

http://business.financialpost.com/2011/10/11/china-buying-while-we-talk/

Tue, 10/11/2011 - 18:57 | 1763267 Clint Liquor
Clint Liquor's picture

We don't need China to buy Treasury debt, we have the FED for that.

Tue, 10/11/2011 - 19:01 | 1763289 nmewn
nmewn's picture

Go with the enemy ya know right...lol.

Tue, 10/11/2011 - 19:02 | 1763293 knukles
knukles's picture

Yeah, we can be self-sustaining like them Japaneses.

Tue, 10/11/2011 - 19:29 | 1763413 LongBalls
LongBalls's picture

Your right. The FED will step in and buy the surplus at T Bill debt auctions if China continues to slow the pace. Probably from the Camen Islands. This looks good to the sheeple but the elite will be furious at their loosening grip on China. The another peice of the chess game has been moved into position.

Tue, 10/11/2011 - 19:52 | 1763497 Alpha Monkey
Alpha Monkey's picture

I think you mean "Go" game.

Tue, 10/11/2011 - 18:53 | 1763246 swissaustrian
swissaustrian's picture

So Chinese goods will be more expensive for US consumers as a consequence of that.

Looking forward to the next CPI.

Tue, 10/11/2011 - 18:57 | 1763262 Rainman
Rainman's picture

Idiots.....I always wanted to punch teacher in the nose too. A giant fuck up is born.

Tue, 10/11/2011 - 18:57 | 1763263 nwskii
nwskii's picture

no wonder they dont let anyone into fort knox

Tue, 10/11/2011 - 19:02 | 1763272 mynhair
mynhair's picture

And the EURUSD could care less.

Kinda like me about that Reid critter.

Tue, 10/11/2011 - 18:59 | 1763278 chump666
chump666's picture

No problems.  Shanghai collapses last session after huge government intervention, China implodes they then buy up USD's and re-peg the Yuan to the USD.  Trade war ahead and a big one.

then watch US company profits (offshore operations ala China) start to slide into nothing.

Tue, 10/11/2011 - 19:03 | 1763298 buzzsaw99
buzzsaw99's picture

Time to buy "B" shares. emerging. markets. bitchez.

Tue, 10/11/2011 - 19:07 | 1763311 mynhair
mynhair's picture

I prefer TAP shares.  Don't like generic beer shares.

(Yes, shares DO come in cans, plus, you wind up with kicking material.)

Tue, 10/11/2011 - 19:32 | 1763430 buzzsaw99
buzzsaw99's picture

Humor. :Excellent!: [/Mr. Burns]

 

Tue, 10/11/2011 - 19:03 | 1763299 FreudianSlip
FreudianSlip's picture

Like all other 3rd world countries (which keeps them 3rd world), place triple import taxes onto anything coming into the country.  Let's start with China and then expand it to every other country to stop all imports into US.  That should slow down things to a backward crawl as we have little industrial manufacturing to create anything to sell to ourselves, let alone export.

 

Hey...we could export illegal aliens and entitlement recipients...we've produced lots of those lately.

 

Anyone considered quit expanding fascist government and insane spending that produces nothing?

 

Hummm, guess they missed Critical Thinking Classes at Harvard.

Tue, 10/11/2011 - 22:09 | 1764042 bsdetector
bsdetector's picture

We have been exporting illegal aliens; they are in the form of college grads that have used our education system to gain knowledge to bring home to their own people. And our colleges got paid for the making those graduates.   

Tue, 10/11/2011 - 19:07 | 1763315 Stack Trace
Stack Trace's picture

Bring the trade war on. Time to force a reset on our banana republic and our endless bleeding of our ability to create wealth for ourselves. So what if junk from China costs 2X more...we can just make the junk ourselves and pay ourselves for it.

Tue, 10/11/2011 - 20:43 | 1763633 Money 4 Nothing
Money 4 Nothing's picture

Nooot a good idea when Russia will be the paymaster for China. Not good. Now, they will not be able to sell American goods in China becasue there will be cheaper alternatives there. Soo, we buy all their shit now becoming more expensive and we can't sell anything to them cause nobody will want it. Real nice dumb fuckers. That should really make some jobs here.

 

China is a currency manipulator? Were the worst ones of them all!

 This Country is totally fucked now, watch what happens.

III

Tue, 10/11/2011 - 19:09 | 1763319 mynhair
mynhair's picture

This could hurt Tsing Tao sales.....

Tue, 10/11/2011 - 19:10 | 1763323 knukles
knukles's picture

ROOT FOR THE FUCKING DEPRESSION!

Fed's all outa ammo.
Fiscal stimuli turns neutral/contractionary
Fucking Trade Wars

All Hail Smoot Hawley!
In Smoot Hawley We Trust

Root for the Fucking Bead Lines!

 

Tue, 10/11/2011 - 19:13 | 1763327 mynhair
mynhair's picture

Have no beads left; bought Manhattan with them.

Guess I better get in line.....

Tue, 10/11/2011 - 19:14 | 1763341 BernankeHasHemo...
BernankeHasHemorrhoids's picture

We need to go further, much further:

1. A complete embargo on Chinese goods imported to the US. Kill Wal-mart and destroy China's economy. We can live without their crap - they can't live without their jobs.

2. Repudiate all US debt held in Chinese hands. Wipe your asses with it, bitches!

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