Article

2010-06-19 China-Japan-Koreas

Geithner eyes implementation of China yuan move

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Posted by tipper 2010-06-19 10:29|| || Front Page|| [4 views ] Top

#1 The party is only concerned about power [sound familiar?]. They'd rather eat bad American Treasury Bonds than deal with the social upheaval that proper 'free market' pressures would do to the yuan.

The People's Bank of China all but ruled out the one-off revaluation or major appreciation hoped for by critics, saying there was "no basis for big fluctuations or changes" in the exchange rate.

Actually, the crappy US Treasury Bonds should be the basis for the market to be allowed to adjust itself. Quit buying them. Of course, then the Americans wouldn't have the economy to buy the products that are churned out by your workers. Had you allowed this adjustment to occur naturally over the last two decades, it would have been gradual. Now when it does come, it's going to be a real crisis for everyone.

Posted by Procopius2k 2010-06-19 11:51|| 2010-06-19 11:51|| Front Page Top

#2 It's like a poker game in which both players keep increasing their bets even though they are bluffing. Both players knows the other is bluffing, but they are just not sure who has the worse hand.

Posted by phil_b 2010-06-19 23:40|| 2010-06-19 23:40|| Front Page Top

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