Ponzi World (Over 3 Billion NOT Served)

The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.

Friday, June 24, 2016

Britain Just Devalued China

The Yuan just hit a new multi-year low against the dollar. Today the PBOC said that the currency needs to be more "flexible"...

Each major leg down in the Yuan has led or coincided with a crash in global markets...my hypothesis is due to accelerating Yen carry unwind...

Speaking of which...
China's currency got monkey hammered last night against the Yen by -4%. Putting maximum vertical pressure on capital outflows...

Yen / Yuan with China's FX reserves...
"the exchange rate must be more flexible, and the convenience and flow money can be more free"

USDJPY broke 100 last night, and then held support at 102 for the remainder of the session...

The BOJ just sat at 102 and took all offers with zero deviation...
Currency "stabilization" visualized
With S&P: