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I've posted about this before. The problem with the yaun is that the Chinese don't expose their economy 100% to the free market. There is state control over most of it. As a result it leaves investors and markets open to manipulation which might not be discovered till it too late. What is emboldening the Chinese to make this move is that the USA elected a complete moron and his pumpkin patch gang to run the country. That creates instability and markets hate instability. So they may see China as a less risky place than the USA.
Cue the Cult to foam about global elites and blah blah blah. Right up to the point where it costs $200 to fill up their F-250.
I've posted about this before. The problem with the yaun is that the Chinese don't expose their economy 100% to the free market. There is state control over most of it. As a result it leaves investors and markets open to manipulation which might not be discovered till it too late. What is emboldening the Chinese to make this move is that the USA elected a complete moron and his pumpkin patch gang to run the country. That creates instability and markets hate instability. So they may see China as a less risky place than the USA.
Cue the Cult to foam about global elites and blah blah blah. Right up to the point where it costs $200 to fill up their F-250.
This all started well before Trump was elected. I've posted about the ball starting to roll for years now. It's going to happen sooner or later.
I've posted about this before. The problem with the yaun is that the Chinese don't expose their economy 100% to the free market. There is state control over most of it. As a result it leaves investors and markets open to manipulation which might not be discovered till it too late.
Agreed.
No currency can be totally 'trusted' to be free from manipulation, but the U.S. dollar is about the closest thing the world has.
The yuan is about the furthest thing the world has. Their currency laws are extremely rigid and authoritarian and rarely involve markets.
Yes, pknopp, I'm aware of that. I could've sworn I said "No currency is free from manipulation"
You said the dollar was the closest thing to a non manipulated currency there is. It's not even close. If anything, it's almost as bad as China with China saying "How can you condemn us with as much manipulating as you do"?
Quantitative Easing, artificial interest rates, etc are nothing but a manipulation of the dollar.
It's more than just the dollar and monetary policies. It's also about if I get into business with this company are the earnings honest. Is the market valuation correct. Do their products go to.market and compete, or are they being manipulated behind the scenes.
It's more than just the dollar and monetary policies. It's also about if I get into business with this company are the earnings honest. Is the market valuation correct. Do their products go to.market and compete, or are they being manipulated behind the scenes.
As we know, our large firms play fast and loose with market valuations. Why have people not been paying attention?
If not.....we now have it all documented in a movie.
We live in an era of fraud in America. Not just in banking, but in government, education, religion, food, even baseball... What bothers me ins't that fraud is not nice. Or that fraud is mean. For fifteen thousand years, fraud and short sighted thinking have never, ever worked. Not once. Eventually you get caught, things go south. When the hell did we forget all that? I thought we were better than this, I really did.
It is going to go south. China and other countries are going to do this. I do not blame them.
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