August Deja Vu:
"China's central bank is under increasing pressure from policy advisers to let the yuan currency fall quickly and sharply, by as much as 10-15 percent, as its recent gradual softening is thought to be doing more harm than good."
Last night:
Second trading halt of the week after only :29 minutes of trading...surprisingly, halting trading every other day isn't improving China's MASSIVE capital outflows...
Yuan death spiral
The PBOC is attempting the impossible - to lower interest rates while preventing mass capital flight. Speculators are therefore shorting the Yuan, placing massive bets on further devaluation, which in turn is fueling ever more capital flight, forcing further devaluation...
China's currency reserves fell by $108 billion in December to $3.33 trillion. Analysts had expected a decrease of $18 billion, so they were only off by 600%.
The "Sharp quick currency decline" was already tried, so let's try it again.
Third World poverty is flooding the entire planet, imploding commodities and Emerging Markets...
