Picture the day when the PBOC no longer steps in to support the Yuan. That day may have arrived. The U.S. government is hardcore Idiocracy. No half measures will suffice. A free-floating Chinese currency will instantly implode the global financial system...
This just in:
President Donald Trump would have the support of Congress if he declared China a currency manipulator
Senator Lindsey Graham of South Carolina, a Republican, said on a panel at the Munich Security Conference on Sunday that the Republican-led Congress has an opportunity to unite around action against China...
Pull the trigger and collect your booby prize...
As usual, the Idiocracy is closing the barn door after the horses are out. Through 2013, China accumulated FX reserves to slow the ascent of the Yuan. However, subsequently, they've burned through one trillion dollars in reserves attempting to support it.
In other words, if they stop "manipulating" their currency now, it will collapse. But don't tell that to Congressional fucktards, we want them to find out for themselves...
FX reserves (red) with Yuan:
What changed in 2014? As I showed earlier today, global trade imploded. When China went into liquidation mode, all hell broke loose across global financial markets...
Here again are global stocks (blue), oil (black) with Chinese FX reserves (red):
“There’s bipartisan support to declare China a currency manipulator”
Pull the trigger and collect your booby prize...
Chinese stocks
