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Accountability in Office - Why Does the PBOC Allow Yen to Devalue Against Yuan?? [Copy link] 中文

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Post time 2013-5-5 07:41:00 |Display all floors
This post was edited by abramicus at 2013-5-5 07:42

As of end of April, 2013, the Yen stands at 99.38 against 1 US dollar, and the Yuan at 6.23 against 1 USD, resulting in an exchange rate of 15.95 Yen to 1 Yuan.

As of 12/28/2012, the USDJPY rate was 85.52, while the USDCNY rate was 6.31, resulting in a CNYJPY rate of 13.55.  In other words, the Yuan had appreciated by 17.72% against the Yen in just 4 months!!!

How does the Central Bank of China (People's Bank of China) expect Chinese exporters to survive against Japanese exporters?  If this is not a transfer of wealth to Japan, what is?

But wait . . . the data gets more damning if one looks back to the beginning of 2012.

As of 12/30/2011, the USDJPY rate was 77.80, while the USDCNY rate was 6.36, resulting in a CNYJPY rate of 12.23.  In other words, the Yuan had appreciated against the Yen by 30.5% in just one year and four months!!!

Why look elsewhere to find the reason why China's GDP growth has stalled and reversed in the past one year and a half?

The answer is staring you in the face.

The Chinese Central Bank has been transferring export income to Japan at a furious rate to shore up the Japanese economy, and even if much of the export earnings were used by the Japanese to pay interest on their huge national debt, resulting in a no net growth of GDP, why is China paying for the Japanese economic rescue, last year and again, even more furiously, at twice the rate, this year???

Is the Diaoyudao dispute a smokescreen to cover up the massive transfer of wealth from China to Japan under some collusive private arrangement between the two Central Banks???


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Post time 2013-5-5 07:56:34 |Display all floors
This post was edited by abramicus at 2013-5-5 07:57

HAS JAPAN WON THE ECONOMIC WAR (THROUGH CORRUPTION AGAIN) AGAINST ITS WWII ENEMIES?

Corollary to above, if the Chinese Yuan is already undervalued against the US dollar, and the Japanese Yen is even more undervalued against the Chinese Yuan, then, is not the Japanese Yen virtually the most undervalued currency against the US dollar?

Again, why is there such a massive transfer of US export revenues to Japan?

Are the Chinese and American bankers supporting Japan's re-militarization in order to line their own pockets?  Never mind that their men and women in uniform would be left holding the bag, and paying with their lives?


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Post time 2013-5-5 17:06:23 |Display all floors
This post was edited by sansukong at 2013-5-6 02:35

abramicus,


I believe you are also a Chinese scholar. May I ask of you a favour? Can you translate the follow passage into perfect Chinese for the benefit of Chinese readers?

"A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear. The traitor is the plague."
by:
Marcus Tullius Cicero

Thanks &  {:soso_e183:}



FIRST NATIONS ( LAKOTA PEOPLE ) Heartbreaking - (Google Search for video) "to stay true to who you are. Never allow anyone make you different or think different about what it is you are created to be ...

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Post time 2013-5-5 19:48:49 |Display all floors
This post was edited by abramicus at 2013-5-5 19:51

一个国家能够忍受愚笨,甚至野心的劣害。但它却无法承受来自内部的背叛。在城外的敌人并不那么可怕 。。。

Widely attributed to Cicero because of his four speeches against Catiline's treachery, possibly from Sallust's anthology of Cicero, but difficult to confirm.

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Post time 2013-5-6 03:23:14 |Display all floors
abramicus Post time: 2013-5-5 18:48
一个国家能够忍受愚笨,甚至野心的劣害。但它却无法承受来自内部的背叛。在城外的敌人并不那么可怕 。。。
...

THANKS      {:soso_e183:}
FIRST NATIONS ( LAKOTA PEOPLE ) Heartbreaking - (Google Search for video) "to stay true to who you are. Never allow anyone make you different or think different about what it is you are created to be ...

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Post time 2013-5-6 04:42:01 |Display all floors
This post was edited by sansukong at 2013-5-6 12:34
The Chinese Central Bank has been transferring export income to Japan at a furious rate to shore up the Japanese economy, and even if much of the export earnings were used by the Japanese to pay interest on their huge national debt, resulting in a no net growth of GDP, why is China paying for the Japanese economic rescue, last year and again, even more furiously, at twice the rate, this year???

As you have put it rightly: "Decay starts at home".


Having said that:  Has China embarked on a "self-demolition" mission?


Translate  ...


正如你已經把它正確的:“衰變啟動在家裡”。

在說:中國登上的一 “自我毀滅” 的使命?

FIRST NATIONS ( LAKOTA PEOPLE ) Heartbreaking - (Google Search for video) "to stay true to who you are. Never allow anyone make you different or think different about what it is you are created to be ...

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Post time 2013-5-6 05:38:11 |Display all floors
This post was edited by abramicus at 2013-5-6 05:43

THE SECOND TREATY OF SHIMONOSEKI OF 2013?

LI HONGZHANG WOULD FEEL ASHAMED HE WAS OUTCLASSED BY A MIGHTIER PEN THAN HE HELD IN HIS HAND.


The amount of export revenues lost will never appear as a transfer of wealth from China to Japan, because it was lost before it would have otherwise been earned, due to China's negligent defense or non-defense of its exchange rate in the face of such flagrant Japanese currency intervention.  

But the amounts are far greater than what Li Hongzhang gave to Japan by virtue of the Treaty of Shimonoseki of 1895, which was 200 million taels of silver, later increased to 230 million taels of silver in exchange for not ceding the Liaotung peninsula to Japan (which included China's major naval base of Lushun, later taken over by the Russians and named "Port Arthur").  One kuping tael's silver content weighs 37.3 grams.  Silver currently is $0.85 per gram.  230 million kupin taels has a present value in silver of $7.3 billion dollars.  Of course, the time value of this amount over 118 years is a pretty large sum in present value, with an average interest of 5%, accounting for true borrowing costs and devaluations, of about 2.3 trillion dollars.  So, much of present day Japanese prosperity was taken from China's blood, sweat, toil and tears, just counting that one sum alone.  It took China more than a century to recoup this one single payment to Japan.

But in silver dollar terms, the present policy of allowing Japan to devalue the Yen against the Yuan by some 30.5% in the past 16 months, may have cost China many times the cost of the kuping taels paid to Japan of 7.3 billion dollars' worth.  In fact, the present day transfer of wealth to Japan by virtue of losing export revenues before they were earned, due to the overvalued exchange rate of CNY TO JPY, set by the PBOC, may have already exceeded 1000% or ten times, that amount even as we speak.


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