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The decline of China’s yuan on Monday to its lowest level in 11 years against the US dollar could continue into 2020 amid the apparent shift in its policy stance by the Chinese authorities, who are showing increasing reluctance to provide concessions to resolve its trade war with the United States. The Chinese currency’s drop has also rattled the currency market, sending 11 regional currencies lower. The yuan slid 1.3 per cent to 7.0298 against the dollar on Monday in response to President Donald Trump’s threat to impose a new 10 per cent tariff on the US$300 billion of Chinese...

Both the onshore and offshore yuan breached the 7.0 level against the dollar, which investors see as a key threshold in currency value China's decision to let its currency weaken against the dollar on Monday sent global markets diving further into the red and provoked a Twitter tirade from US President Donald Trump. The deteriorating picture appeared to worsen as official Chinese media reported Beijing ceased purchases of American farm exports. The Chinese yuan fell to its lowest level against the dollar since August 2010 in morning trading on Monday, fuelling speculation that Beijing is allowing currency depreciation to counter...

US Treasury Dept. designates China a currency manipulator.

China priced the yuan's reference rate at 6.9683 to the dollar on Tuesday, a hair above the key 7:1 ratio to the US dollar. Although that was the weakest level for the yuan in 11 years, many Wall Street investors feared China would price the yuan below that psychological 7:1 barrier. The managed yuan continued to slide Tuesday, but the pace of its decline slowed. One dollar last bought $7.0200 yuan in China, anld 7.0490 yuan in the offshore market, where the currency trades more freely China devalued its currency on Monday, leading it to fall below a key threshold...

A historic event took place moments ago when Mark Johnson, the global head of cash FX at HSBC was arrested at JFK airport for his role in a "conspiracy to rig currency benchmarks", and specifically for frontrunning customer orders. He is the first person charged by the US in the ongoing FX rigging probe. As Bloomberg reports, a "senior manager at HSBC Holdings Plc was arrested in New York for his role in a conspiracy to rig currency benchmarks, according to two people familiar with the matter, becoming the first person to be charged in the Justice Department’s three-year investigation...

The U.S. Treasury on Friday warned Japan not to actively weaken its currency as it again refrained from naming China a manipulator. In its twice-a-year assessment of whether any nation is a currency manipulator, Treasury said it will “closely monitor” Japan’s policies and the extent to which they support the growth of domestic demand. The new Shinzo Abe administration has pushed for aggressive bond-buying at the Bank of Japan, and the yen has dropped 13% against the dollar this year. The Japanese currency rose in Friday afternoon trade after the report was released. … China, meanwhile, escaped being branded a...

It was just a matter of time before history once again repeats itself. I am referring to the joint press conference held by Senator Jeff Sessions, R. Atlanta, and Senator Charles Schumer, D. New York. Since the President's jobs program is a non-starter for both Republicans and Democrats it was only logical that both parties needed something to not only show the electorate that jobs were paramount but also to show that both parties could and would be bi-partisan. Who to make the whipping boy for both parties? None other than China. Then, with the blessing of Senator Harry Reed,...

State Treasurer Josh Mandel has asked for a probe into whether banks manipulated foreign exchange rates charged to Ohio public pension funds and the state's injured-worker insurance, potentially costing pensioners and businesses tens of millions of dollars in the past 12 years. In a letter yesterday requesting that Ohio Attorney General Mike DeWine launch the probe, Mandel said he is concerned that the banks might have engaged in improper currency-trading practices "to maximize the banks' profits, at the expense of Ohio public servants, businesses and taxpayers." State lawmakers have been debating ways to shore up the long-term financial stability of...

In my last post, I discussed George Soros, the self-hating Jew. Today, I focus on George Soros, the naturalized American citizen who hates his adopted country. As Soros put it in his own words, the United States is a “declining superpower” whose “democracy is in deep trouble.” Soros advocates policies that would rearrange the entire world financial order. He believes in “global governance,” led by the United Nations. To help advance his global governance objectives, Soros has to do something about the United States, which he regards as The main obstacle to a stable and just world order To help...

... George Wills stated in a recent writing the opinion that Obama is a spent volcano. The evidence is legion and growing. His swaggering and lecturing foreign leaders is mocked and now routinely rebuffed. His domestic policies ridiculed and reviled. His control of congress crippled. His only remaining usefulness to Soros is that of a rear guard continuation of sewing seeds of diversity within the American populace. Here too his effectiveness is shown by polls to be dwindling precipitously. Obama has served several functions consistent with ‘Soros’ strategy, the quotation marks indicating that the strategy is a group effort. Their...

Glenn Beck TV thread November 9th 2010 Welcome to the GLENN BECK television thread...Stand. Never give up. Never give in. Well we did it, it wasn't perfect but it was never intended to be more than a start. Now we look forward to our next battles and to our next election. Ya done good America. infidels, sick twisted freaks, ilks and lurkers are welcome and are encouraged to participate in the thread.

...Mr. Soros is the sugar daddy of the Democratic Party and the modern left. His net worth is more than $7 billion. He is one of the richest and most influential men in the world. Almost every major liberal organization, think tank or media outlet has been the beneficiary of Mr. Soros' largesse. The Nation magazine, Mother Jones, Media Matters, MoveOn.org, NPR and the Center for American Progress - all together they have received tens of millions of dollars from the financier. They serve as front groups and propaganda vehicles to promote Mr. Soros' brand of transnational socialism. ..Mr. Soros...

China’s currency manipulation represents the largest protectionist measure maintained by any major economy since the Second World War. China has intervened in the foreign exchange markets by an average of $1 billion a day for the last five years, buying dollars to keep them expensive and selling renminbi to keep them cheap, building a gigantic reserve of $2.5 trillion in the process. Largely as a result, the renminbi is undervalued by at least 20 percent relative to economic fundamentals. The largest trading country in the world is therfore subsidizing all exports by at least 20 percent and imposing an additional...

The following is based on a report by Cliff Kincaid for Accuracy in Media. The New York Times is quoting a spokesman for George Soros as saying that the well-known hedge fund operator is guilty of no wrong-doing in connection with the financial upheaval currently affecting Greece and Europe as a whole. But Zubi Diamond, author of the powerful new book, Wizards of Wall Street, says the agenda of Soros and other short sellers is clear. Their purpose, he says, is “to loot America and any foreign country which invested in America. Greece was one of them. Iceland was ravaged...