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#11
11-08-2007, 03:54 PM
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Re: The Dollar Plunges Further
[ QUOTE ]
I just read that China recently unpegged the Yuan from the dollar. Did anyone hear anything about this? [/ QUOTE ] I thought this happened a couple of years ago. Isn't it pegged to a basket of currencies? Did they decide to remove the US dollar from that group? What China did recently do is threaten to diversify some of its foreign currency holdings away from the dollar. 
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#12
11-08-2007, 03:55 PM
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Re: The Dollar Plunges Further
Sort of at a tangent, but sort of related. This made me laugh alot.
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#13
11-08-2007, 03:55 PM
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Re: The Dollar Plunges Further
[ QUOTE ]
[ QUOTE ] I just read that China recently unpegged the Yuan from the dollar. Did anyone hear anything about this? [/ QUOTE ] I heard that they were thinking of selling off $500B of their USD denominated reserves, but didn't hear that they unpegged. Source? [/ QUOTE ] No, it was basically the equivalent of a chinese senator who said they "should" sell USD. He was rebubffed hard.
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#14
11-08-2007, 03:59 PM
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Re: The Dollar Plunges Further
[ QUOTE ]
No, it was basically the equivalent of a chinese senator who said they "should" sell USD. He was rebubffed hard. [/ QUOTE ] Source?
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#15
11-08-2007, 04:00 PM
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Re: The Dollar Plunges Further
[ QUOTE ]
[ QUOTE ] No, it was basically the equivalent of a chinese senator who said they "should" sell USD. He was rebubffed hard. [/ QUOTE ] Yesterday's Wall Street Journal. No linky [img]/images/graemlins/frown.gif[/img] Source? [/ QUOTE ]
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#16
11-08-2007, 04:07 PM
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Re: The Dollar Plunges Further
[ QUOTE ]
I just read that China recently unpegged the Yuan from the dollar. Did anyone hear anything about this? [/ QUOTE ] They moved it from a hard peg in like 2005 I think, and let they yuan float within an acceptable "range" by selling and buying Treasuries as needed. The currency is still low which is why China is in danger of "overheating" its economy - the cheaper yuan attracts foreign investment.
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#18
11-08-2007, 04:39 PM
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Re: The Dollar Plunges Further
Borodog, are you really trying to take credit for this spike in gold? You putting a Dr. Bob (for sports) or Jim Kramerish affect on the gold market now?
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#20
11-08-2007, 04:42 PM
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Re: The Dollar Plunges Further
[ QUOTE ]
Lol. No, I'm not taking credit. I'm telling you I tol' you so! [/ QUOTE ] Well if you were, just give me heads up before you make a recommendation so I can join you on your pump and dump plans.
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