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"On August 11th, China unexpectedly devalued the Yuan. This came as a shock to the markets, which saw the currency rapidly plummet by 4% and would have continued to do so if not for the extreme intervention of the Chinese Plunge Protection Team. Since that time, they have been actively and directly engaging in the Forex markets, where they have propped-up the Yuan and artificially maintained their fix with the US dollar. How did they do this you ask? By selling US treasuries. That's right, it is being reported, that in the past two weeks alone, China has sold over $106 billion worth of treasuries! But this isn't all, since the start of this year, China has sold an additional $107 billion worth of treasuries!"
"On August 11th, China unexpectedly devalued the Yuan. This came as a shock to the markets, which saw the currency rapidly plummet by 4% and would have continued to do so if not for the extreme intervention of the Chinese Plunge Protection Team. Since that time, they have been actively and directly engaging in the Forex markets, where they have propped-up the Yuan and artificially maintained their fix with the US dollar. How did they do this you ask? By selling US treasuries. That's right, it is being reported, that in the past two weeks alone, China has sold over $106 billion worth of treasuries! But this isn't all, since the start of this year, China has sold an additional $107 billion worth of treasuries!"
[text] The Great Unwind, China Begins Dumping Treasuries - Nathan McDonald | Sprott Money
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