Epoch Times:
The U.S. government has determined that China is manipulating its currency and will engage with the International Monetary Fund to eliminate unfair competition from Beijing, U.S. Treasury Secretary Steven Mnuchin said in a statement on Monday, Aug. 5.
The move brings already tense U.S.-Chinese relations to a boil and fulfills U.S. President Donald Trump’s promise to label China a currency manipulator for the first time since 1994.
The U.S. action follows China allowing its yuan to weaken past the key 7-per-dollar level on Aug. 5 for the first time in more than a decade. Beijing later said it would stop buying U.S. agricultural products, inflaming a yearlong trade war with the United States.
The sharp 1.4 percent drop in the yuan comes days after Trump stunned financial markets by vowing to impose 10 percent tariffs on the remaining $300 billion of Chinese imports from Sept. 1, abruptly breaking a brief ceasefire in a bruising trade war that has disrupted global supply chains and slowed growth.
The news knocked the dollar sharply lower and bolstered the price of gold. more here
China better get some more mass shooters going in the US via movies, tv, video games, our schools, etc, or Americans might completely wake up.
WTF?
What do you suppose the purpose of the FEDERAL RESERVE is?
Are we remotely serious?
Read WhatsHisName (the dead white dude) about controlled currency manipulation and the Federal Reserve – how the (nearly) perfect system is methodical, slow, steady inflation and Devil take the hindmost.
Apparently we just point and scream, yammering shit, and frothing at the mouth, whenever something happens that we dislike, or that others do as well as we.
Fer cryin out loud.
izlamo delenda est …
They have been doing this from the beginning.
Who thought it was a good idea to do business with these people? Let’s find out and punish them appropriately.
Is this what’s currently killing the Stock market (and seems to be driving metals up too)?
China and the U.S. are too big to fail. Riiiiiight.
Well China is giving in. Still work to be done on tariffs but they are backing off currency control (which is mostly detrimental to them anyway).
TP
Who thought it was a good idea to do business with these people?
The UNIPARTY , naming names:George, George + Barry