China warning to Soros: don't mess with us

The onshore yuan is the currency controlled by the Chinese Government, and the offshore yuan is a free float of Chinese currency, hence the spread between the two is a source of great amount of volatility that affects commerce flows and currencies. A well connected source to People's Bank of China issued a stern warning to the speculators who short the yuan: Invest in the future of China or suffer steep losses shorting the yuan. The central bank recently went in the offshore yuan market and bought billions worth of yuan, a move that shot the Hong Kong interest bank rate from 4% to 68%, crushing the yuan shorts. It is not clear if US treasury or the Fed are participating on the short side of the yuan, but judging by today's DJI market drop someone screamed from the bottom of their lungs in horror.

Comments

Post a Comment

Popular posts from this blog

Bibi1581 Blog 9/29/2017:ME

5............> Brooming Obama's Trash: 500 Arrested By ICE WASHINGTON – U.S. Immigration and Customs Enforcement (ICE) Enforcement and Removal Operations (ERO) Fugitive Operations teams arrested 498 individuals from 42 countries for federal immigration violations in multiple cities across the U.S. during a four-day operation that ended Wednesday. Operation ‘Safe City’ focused on cities and regions where ICE deportation officers are denied access to jails and prisons to interview suspected immigration violators or jurisdictions where  ICE detainers  are not honored. The operation targeted individuals who have violated U.S. immigration laws, prioritizing aliens with criminal convictions, pending criminal charges, known gang members and affiliates, immigration fugitives and those who re-entered the U.S. after deportation. Individuals with active DACA were not targeted for arrest. “Sanctuary jurisdictions that do not honor detainers or allow us access to jails and prisons are s...
Read more

Bibi1581 Blog For 9/13/2017: Morning Edition

1..............> Un Darling: Mr.Xi China's very shrewd Mr.Xi insisted on watering down latest sanctions to let Kim Jong-un know that he is still their favored pit bull that can keep its diamond studded nuke collar, and that Beijing does not believe sanctions will force the North Korean leader to surrender his weapons. http://www.bbc.com/news/world-asia-china-41236742 2............> Drug Dealer's Currency: Bitcoin The chief executive of JPMorgan Chase Jamie Dimon called the most popular cryptocurrency Bitcoin's value continued rise "a currency made of thin air" and a "fraud," predicting that "it won't end well." Dimon said that if one of his JPMorgan workers would trade Bitcoin, he would have fired him "in a second for two reasons. One, it’s against our rules. Two, it’s stupid." https://sputniknews.com/business/201709131057356827-bitcoin-jpmorgan-fraud-cryptocurrency/ 3.............>   Smart On Global Warming: China Bei...
Read more

Bibi1581 Blog For 9/12/2017: Morning Edition

1...........> Enemy At GOP Gate: Bannon The Barbarian In his very blunt way, former adviser to President Trump Steven Bannon said that "Russian collusion is a farce,” and had FBI Chief Comey not been fired, “we would not have the Mueller investigation." He also returned fire on Republican congressional leaders and dedicated Council of Foreign Relations operators Paul “Romney Jr.” Ryan and Mitch ”Harry’s Twin” McConnell, accusing them of "trying to nullify the 2016 election” because “they do not want Donald Trump's populist, economic nationalist agenda to be implemented." http://www.bbc.com/news/world-us-canada-41230118 2..............> Applied Global Warming: Dakka, Bangladesh A flooded street, a bus struggling on a road that looks more like a raging river, people walk in a high muddy water, half submerged rickshaws and vehicles misery stuck in rushing flood are the very familiar scenes seen in Dhaka, Bangladesh http://news.xinhuanet.com/english/2017-09/...
Read more