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 2015-6-1 17:21:11 |Display all floors
abramicus Post time: 2015-5-26 11:05
You can continue to make the case that your business thrives with a higher Yuan exchange rate, but ...

So if we can do it why can others not do it?

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Post time 2015-6-1 17:27:53 |Display all floors
futsanglung Post time: 2015-6-1 17:21
So if we can do it why can others not do it?

We are not interested in your example of yourself as an exporter making more money with an overvalued Yuan.  Why can others not do it?  Because they are honest, for one, and don't lie just to win an argument.  Arguments by example, like yours, fail because the example is simply unprovable, and could be a convenient fabrication.  Your support of the PBOC tells us who are behind its blunderbuss exchange rate policy failures.

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Post time 2015-6-2 07:50:29 |Display all floors
I think its great. This attracts foreign companies. Everything is made in China. This provides employment for its people. Why should China let the market decide its value, that only leaves it open to currency speculation and manipulation by you know whoooooooo.

If people don't like the way things are done, take your business elsewhere. See if there are better places for manufacturing in the world.

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Post time 2015-6-2 15:31:35 |Display all floors
LeonardWong Post time: 2015-6-2 07:50
I think its great. This attracts foreign companies. Everything is made in China. This provides emplo ...

Absolutely.  China does not need the Western banks to be the market-makers for its currency, and set its exchange rate by their collusion, as has been proven to have taken place in the past several decades.  If China had in fact listened to the IMF and Western banks, and opened her capital account, and allowed the Western banks to set the Yuan exchange rate, China would have been gypped of hundreds of billions of dollars, possibly trillions even.

WHO ARE THE CURRENCY MANIPULATORS?  

NOT CHINA, which has the right to set the price at which it will sell its Yuan, because that is an inalienable right of the producer of any product, including currencies.

THE REAL MANIPULATORS WHO ARE USING THE IMF TO FORCE CHINA TO LET THEM MANIPULATE THE YUAN TO THE DETRIMENT OF CHINA AND HER TRADING PARTNERS ARE THE VERY CABAL THAT IS DEMANDING CHINA STOP SETTING THE EXCHANGE RATE OF THE YUAN.

According to news reports, the five banks that pleaded guilty to currency manipulation were Barclays, UBS, Citigroup, JP Morgan and Royal Bank of Scotland - but we do not know how many more banks have also participated in the rigging of the 4 PM Reuters fix of the USD/EUR rate every day - so what is the real reason they want China to let the market set the exchange rate of the Yuan?

Only the Fifth Columnists inside China's monetary ivory towers would even think that such blatant theft of China's dollar reserves and Yuan savings will make China a stronger, better, and more stable country.  The opposite is the case.  Letting the market makers in the West set the price of the Yuan would have been equivalent to letting the Fox inside the Chicken Koop, but even now, they have a strangle hold on the Yuan exchange rate that is suffocating the Chinese manufacturing juggernaut and turning it into the SICK MAN ON A VENTILATOR OF ASIA.

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Post time 2015-6-2 19:18:10 |Display all floors
abramicus Post time: 2015-5-21 14:00
Float freely, like the USD and Euro?  The same two currencies that have been manipulated by at lea ...

"Float freely, like the USD and Euro?  The same two currencies that have been manipulated by at least five major brokerages or banks to benefit not the market but the market makers,'

please, this shall NEVER happen.
Luckily, Asian people never forgot their old way of counting.

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Post time 2015-6-7 13:05:49 |Display all floors
emanreus Post time: 2015-6-2 19:18
"Float freely, like the USD and Euro?  The same two currencies that have been manipulated by at le ...

When the West DEMANDS that an Eastern country allow its currency to be set by Western banks, which it calls "the market", it is a joke, were it not so outrageously dishonest as to constitute a CON JOB.

They are CONNING China to allow the Yuan/Dollar exchange rate to be set, like the Euro/Dollar exchange rate by the same banks that have robbed everyone buying or selling either of these currency pairs, by rigging the "FIX" which is the value of the exchange rate at 4 PM, plus minus 30 seconds.  If you call that the FREE MARKET, then there is no RIGGED MARKET.

And for the PBOC to dutifully insist that CHINA MUST OBLIGE the currency riggers by allowing its currency exchange rate to be FIXED by them every day, tells us some fellows and their higher ups need to be FIRED.

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Post time 2015-6-7 13:42:28 |Display all floors
"...or the IMF which still insists China's Yuan is undervalued".....

Yuan no longer undervalued, says IMF
By rthk.hk

Wednesday, May 27, 2015

China's yuan currency, which Washington has long alleged was manipulated, is "no longer undervalued", the International Monetary Fund said on Tuesday.

"Our assessment now is that the substantial real effective appreciation over the past year has brought the exchange rate to a level that is no longer undervalued," the IMF said in a statement after a consultation mission to China.

Beijing is pushing for the currency to play a greater role in the world financial system, such as being included in the basket that makes up the IMF's own "special drawing rights" reserve currency.

"We urge the authorities to make rapid progress toward greater exchange rate flexibility, a key requirement for a large economy like China's that strives for market-based pricing and is integrating rapidly in global financial markets," the IMF said.


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