Author: abramicus

WHAT REASON FOR PBOC TO KEEP THE YUAN AT 6.20 CNY/USD?   [Copy link] 中文

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Post time 2015-8-8 12:58:55 |Display all floors
This post was edited by abramicus at 2015-8-8 13:00
bushier Post time: 2015-8-8 00:21
China will hack into the financial banks in Cayman Island, to get hold of the list of people who h ...

A CHINESE VERSION OF ALI BABA IN THE YEAR TWO THOUSAND AND FIFTEEN.

WHEN THE CHINESE COWBOY COMES BACK WITH ALL THE ROBBERS TIED IN ROPES . . . HE WILL FIND THE BANK EMPTY OF ALL THE TREASURES HE SAID OR THOUGHT OR PRETENDED HE WAS PROTECTING . . . AND THEN, HE WILL GO AFTER THE BANK MANAGER AND HIS AIDES . . . KNOWING WHERE THE LOOT IS, AND ALL HE NEEDS TO DO TO OPEN ITS LOCK IS TO SAY "OPEN SESAME!"

SOUNDS LIKE A CHINESE VERSION OF ALI BABA AND THE FORTY THIEVES.

THE PROBLEM IS, WHERE THE LOOT IS STORED IS A DIFFERENT KIND OF VAULT THAN WHAT ALI BABA WAS USED TO IN HIS HOME TOWN.  WHILE THE MAGIC WORD TO OPEN IT IS "OPEN SESAME", ONCE YOU GET INSIDE IT, THE DOOR CLOSES, AND THERE IS NO MAGIC WORD TO OPEN IT AGAIN. THERE HAS NEVER BEEN A SINGLE THIEF WHO HAD BEEN ABLE TO STORE HIS LOOT IN THIS MAGIC VAULT, AND TAKE IT OUT AGAIN.  JUST ASK ALL THE PAST STRONG MEN WHERE THEIR RICHES ARE NOW.  THAT IS WHY THIS MAGIC CAVE'S PROVERBIAL RICHES HAS INCREASED OVER THE YEARS, BUT COULD NEVER BE VERIFIED.





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Post time 2015-8-10 12:51:38 |Display all floors
abramicus Post time: 2015-8-8 12:58
A CHINESE VERSION OF ALI BABA IN THE YEAR TWO THOUSAND AND FIFTEEN.

WHEN THE CHINESE COWBOY COMES  ...

Strength of a country currency are dependent of a few key factors, the most important is the country relative skilled workers, capable of make products that can be exported to earn surplus.  Germany and Japan have the most highly skilled workers (including automation and robotics technicians) in the world.  Therefore naturally Germany and Japan have strong currency.

China way back in 1993, already have more skilled workers than south east asia countries.   Therefore China biggest mistake is to create excessive devalued yuan per US dollar. (8.8 yuan per US dollar). It doesn't make sense for China to have such a excessive undervalued yuan, in 1993.

If China have pegged at 5.5 yuan per US dollar in 1993, now China does not need to revalue the yuan from 8.8 yuan to 6.3 yuan to a US dollar.  With 5.5 yuan per one US dollar, China still can attract foreign investment, and become exporting power house, because China have low wages, and the cost of importing foreign machineries also lower.

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Post time 2015-8-10 15:26:33 |Display all floors
CHINA'S BIGGEST SUCCESS CAME WITH DENG'S DECISION TO DEVALUE THE YUAN TO 6.37 YUAN/DLLAR IN 1994.  THE REST IS HISTORY.  ALL THE YEARS OF THE OVERVALUED YUAN, UP TO 2.00 YUAN/DOLLAR AROUND THE TIME OF THE GREAT LEAP FORWARD MERELY STIFLED THE DEMAND FOR CHINESE PRODUCTS ABROAD AND AT HOME, LEADING TO MANY LOST DECADES OF DEFLATION.

NOW, THE SAME MISTAKE OF MAO IS BEING REPEATED, BY REVERSING THE DEVALUATION OF THE YUAN ENGINEERED BY DENG IN 1994.  

DENG WOULD TURN IN HIS GRAVE IF HE KNEW THAT THE YUAN HAS BEEN REVALUED BACK TO 6.20 YUAN/DOLLAR, REVERSING ALL THE GAINS CHINA HAD MADE IN THE PAST 20+ YEARS.

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Post time 2015-8-10 15:42:27 |Display all floors
abramicus Post time: 2015-8-10 15:26
CHINA'S BIGGEST SUCCESS CAME WITH DENG'S DECISION TO DEVALUE THE YUAN TO 6.37 YUAN/DLLAR IN 1994.  T ...



When it is time for the thing to go down, you cannot get it to stand up even if you try your darnest...........


I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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Post time 2015-8-10 20:49:17 |Display all floors
abramicus Post time: 2015-8-10 15:26
CHINA'S BIGGEST SUCCESS CAME WITH DENG'S DECISION TO DEVALUE THE YUAN TO 6.37 YUAN/DLLAR IN 1994.  T ...

Way back in 1994, China decided to devalue and peg the yuan at 8.9 yuan to a US dollars.  Please re-check you facts.  This is as a pre-condition to join WTO.

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Post time 2015-8-10 22:51:52 |Display all floors
bushier Post time: 2015-8-10 20:49
Way back in 1994, China decided to devalue and peg the yuan at 8.9 yuan to a US dollars.  Please r ...

Your memory not bad



I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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Post time 2015-8-10 22:59:36 |Display all floors
abramicus Post time: 2015-8-10 15:26
CHINA'S BIGGEST SUCCESS CAME WITH DENG'S DECISION TO DEVALUE THE YUAN TO 6.37 YUAN/DLLAR IN 1994.  T ...

If destruction of currency so wonderful..........


I wouldn't be so anxious Malaysia ringgit has been dropping every day for last few months.



Making everyone here cannot even eat properly.


I've made my living, Mr. Thompson, in large part as a gambler. Some days I make twenty bets, some days I make none. There are weeks, sometimes months, in fact, when I don't make any bet at all because ...

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