Trump Accuses Russia, China Of Currency Devaluation: "Not Acceptable"

by Tyler Durden
Mon, 04/16/2018 - 08:53

There is just too much economic confusion in the latest tweet from Trump to even begin to explain it, so we will just point out that moments ago Trump, in this case definitely not under the advice of Larry Kudlow, accused China and Russia of "playing the currency devaluation game", at a time of rising interest rates, which Trump slammed as "not acceptable."

Without going too deep - as we would never get out - it is worth noting three things.

First: in the Treasury's just released report on FX manipulation, neither China nor Russia were accused of devaluing their currencies. If Trump has a problem with Beijing's or Moscow's FX policies, he should probably first instruct his treasury.

Second, both currencies have been strengthening for over two years, and only saw a modest loss in value just very recently.

Third, the only reason Russia is "playing the devaluation game" is because of the sanctions Trump unleashed on Russia last week which sent both the ruble, and Russian assets crashing. If anything, Moscow wants a stronger Ruble to avoid having to raise rates even higher. As for China, while it may want a weaker yuan to boost exports, it will surely come as news to Beijing that it is devaluing the currency, which is trading at the strongest level against the dollar since the August 2015 devaluation, as a result of - drumroll - the weaker dollar. In fact, the weaker the dollar, the stronger the Yuan.

Meanwhile, the biggest irony is what Trump himself told the WSJ exactly one year ago: "I think our dollar is getting too strong, and partially that's my fault because people have confidence in me." 

Maybe if Trump wants stronger foreign currencies - i.e. a weaker dollar - he should just make sure people have "less confidence" in him? That, or more likely, he will start attacking Jay Powell in his morning tweets, demanding the Fed stop hiking rates.

While there was initially no response in the FX complex, the Bloomberg Dollar Index has slid to session lows shortly after the tweet.

As a result, the BBDXY is back to 3 month lows.

Comments

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CuttingEdge BaBaBouy Mon, 04/16/2018 - 09:22 Permalink

Let me get this straight...

 

Trump slams Russia's economy with supposedly far-reaching sanctions, and then accuses them of devaluing when the money pulls out?

And the only rational explanation for perching Batshit Bolton on his shoulder to screech "Bomb Russia" in his ear every five minutes?

Sorry to say it, but he's fucked in the head.

Sorry Donald, but you are looking more a prize cunt with each passing day. Your Dr Strangelove tweet the other day being a case in point.

Maybe you should apologize to everyone on ZH and elsewhere who gave you the benefit of the doubt. Before you showed your true neocon credentials at the altar of Brzezinski, that is.

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Adolph.H. rccalhoun Mon, 04/16/2018 - 09:36 Permalink

There you go:

https://m.youtube.com/watch?v=XorKTwkFPDU

Owing to its astronomical debt that no existing money can reimburse, the enterprise US of A is fucked. 

Russia and China took the exit door and you can't. It's on you my friend, not on them. 

That's what it costs to have sold your soul to a Jewish banker. 

P.S.: too bad you are 40 years late to develop decent weaponry to counter Russia. I'm afraid the next world war does not bode very well for you. 

----

It's okay not to be a Jew.

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philipat Adolph.H. Mon, 04/16/2018 - 10:32 Permalink

Hold on, apart from the impact of sanctions on RUB (I still maintain Russia should price ALL its energy exports in RUB to keep RUB stable but it doesn't really matter much because Russia is essentially self-sufficient now after earlier rounds of sanctions and its Debt/GDP ration is only 12.5%. Unlike some other countries) and of trade wars on CNY, I thought that higher US interest rates should strengthen USD anyway, so naturally RUB/CNY would weaken? And those US rates are NOT rising because of a strong economy but because of too much debt. So the real solutions might be closer to home?

Is there no common sense left at all?

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fx gatorengineer Mon, 04/16/2018 - 09:45 Permalink

See, I was really happy to see Trump win and prevent Killary.

But, the downside of that victory grows ever larger. because lot's of people who would have resisted evil, crooked Hillary are now staying passive or mildly supportive while Trump implements exactly the same neocon agenda of regime change in Syria and Iran.

Look around here and elsewhere, lots of people with good intentions who still hold on to Trump. Not because they like what he does (they do not) but because they want to somehow believe that it is not what it seems to be. That this is all just smoke and mirrors. That he doesn't actually want to go to war in syria and Iran. That#s why the q-anon scamsters are so successful.

If anybody else did the exact the same stuff as trump did vs syria, these people would see it for what it is. But with trump, they want to believe that it is something else. I can understand it. I had the exact same impulse. This past weekend changed everything.

I have been reading through the anti-assad opposition's reports that basically all confirmed the interception of 65-70 missiles allover syria (directed at much more targets than  the pentagon ever admitted). The russians could have made it up, as could Assad. But with their sworn enemies basically reporting the same stuff, there is NO way to spin this as some "show" to deceive the deep shit neocons. It was a real, full-fledged attack on key military infrastructure of the syrian army, especially airfields.

Don't take my word for it, take the antoi-assad jihadists'. for instance here:

http://www.syriahr.com/en/?p=89324

 

Guess what, right at the time of the missile attack and therafter, ISIS and other terrorist groups tried to take advantage of it and shelled syrian army positions.

Does anybody seriously believe that Trump was still fighting the deep shit-neocon's agenda? My ass, he is now IMPLEMENTING it! By persuasion or bribery or blackmail (most likely the latter) they have made him do this. SAD!!

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crazzziecanuck fx Mon, 04/16/2018 - 10:15 Permalink

A sizeable chunk of Trump's 2016 voting base, didn't actually vote for him.  They voted against Hillary.  

You're definitely correct in that assessment. 

However, anti-Assad people have a vested interest in downplaying any American success while simultaneously exaggerating Russian/Syrian success in order to encourage an even more massive strike when the next inevitable false flag operation goes down.  It's pretty clear that the anti-Assad opposition figured out how to push Trump's vanity button.  And I think playing with these interception results is all about that.

Honestly, you cannot believe the Assad regime and it's supporters, nor can one believe those who oppose Assad or who hate Russia.

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BullyBearish crazzziecanuck Mon, 04/16/2018 - 10:50 Permalink

the amount of time and angst spent on "candidates" is by design...getting "us" so personally involved that they control the narrative and achieve their end result:

           getting us to vote

by getting us to vote, we are voting for who they want us to but more importantly, they are KEEPING us in the corrupt system with us VOLUNTARILY rewarding them with our consent to be governed by however they want...

 

DO NOT VOTE FOR ANYONE you don't trust 100% to have THE                        PEOPLE'S  interests at heart...with a PROVEN track record

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fx T-NUTZ Mon, 04/16/2018 - 09:09 Permalink

The trump-cultists and the morons deceived by the q-anon hoax will still insist that Trump is so smart and that this is all part of "the plan". No matter how clearly stupid and contradictory the stuff is that trump says or does.

In reality, statements like these (versus the ruble) display what a clueless idiot he is in many matters.

Actually, I really thought he would understand a thing ot two about forex markets. As one of a very few areas where he might have knowledge, not just opinion. I was wrong, obviously. And these are his supposedly "strong" areas of knowledge (economy and such)

Oh well....

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fx tmosley Mon, 04/16/2018 - 09:24 Permalink

Trump slaps huge sanctions on russia - people flee from russian assets - ruble drops by 14 % in two days.

And your orange hero speaks of willful currency manipulation? LOL! Should Russia have intervened to prop up the ruble or what?

btw, how is your shitcoin cash doing? Still sucking criminal roger ver's dick?

get your dumb head out of trump's ass, mosley.

 

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gatorengineer fx Mon, 04/16/2018 - 09:20 Permalink

Q called 10 days in advance, the number of missiles to sent via B1 bombers....

Generally I think Q is crap, but sometimes well stuff is there that's hard to explain away.

The Comey spiel last night and his earlier tweet that Ginsburg was going to resign for Lynch all fell in nicely as well.

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fx gatorengineer Mon, 04/16/2018 - 09:29 Permalink

that is what you would expect from a deep shit decpetion tool, right? Of course he CAN know the number of missiles.

But where Q was clearly wrong and demonstrably false was the claim that these wre targeting chemcial weapons facilities or in response to a chemical weapons attack ("intel good" - LOL!).

And the q-anon morons who really think that assets of the deep shit inside syria were hit, need a reality check.

 

Syrian opposition confirms: at least 65 missiles intercepted by Assad's forces.

http://www.syriahr.com/en/?p=89324

 

They went for lots of targets, but Syrian air defense prevailed - for now.

Prepare for more false flags and pretexts for additonal missile and bombing attacks once the US aircraft carrier strike group  has reached the combat zone.

Seems the anglozionist scum drank too much of their own cool-aid. Isra-hell claimed back in february that they "had taken out half of syrian air defense". Well, they were lying or clueless. Or the remaining half is remarkably powerful.

 

The syrian opposition, which certainly doesn't make pro-assad propaganda basically confirms that this was not a show by Trump! Trump wanted to inflict real military damage on Syria. So much for all the idiots who believe the q-anon hoax and "trust the plan". And who seriously argued that the actual target were assets of the deep shit in Syria. LOL!!

Speaking of the latter, they yesterday emphasized that iran was the ultimate goal. Sure, it is. And it is a retarded, stupid, most dangerous idea to bomb and invade Iran. If that is "the plan that should be trusted", then I really don't know why anyone would still support Trump. Folks, destroying iran was ALWAYS the necon's plan. If Trump is carrying that one out now - then we could as well have Killary in power.

I hope that I am wrong, but I fear Mattis will be the next one fired by Trump. Mattis talked Trump out of bombing Russian and Iranian targets. I am sure Trump is infuriated about the utter failure of the attack.

When he fires Mattis, the warriors will have taken full control. Let's prey he stays as the only remaining adult in the war room.

Resist the Q-Anon deception!

 

Memo to Alex Jones: You were totally fucked and duped by this clown Corsi and the entire q-anon hoax. They hijacked your show and wanted you to believe their utter crap. They are tools of the deep shit with the sole aim to keep all those Trump supportes on Trump's side who get ever more disillusioned by all his actions of war. All the talk of "trust potus and his plan" despite ever growing evidence to the contrary is one giant deception game.

Judge Trump by his actions and words - not by some made-up super-secret plan with which he supposedly "outsmarts the deep shit". LOL, yeah, the deep shit is too dumb to see and decode the q-anon messages  - only corsi and all the other q-anon scamsters can.

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DisorderlyConduct fx Mon, 04/16/2018 - 10:12 Permalink

Of course you're assuming that you are working from the same data and base assumptions as Trump is. There is every chance that Trump looks the way he does because he actively chooses to. If anything he seems to be all about image.

Playing poker is a good example. We don't play the game with all cards showing. If a player acts a certain way, it is most likely because they are projecting an image so as to gain an advantage.

Of course, you may possess all of the same data and know all about the overall goals being served. I can't claim that, so I'm left in the group of people going whatthefuck? But I will say that if he was a complete moron he 1) wouldn't have been smart enough to get elected, and 2) wouldn't be a billionaire. After all, he lives better than most, and that doesn't come easy.