Archive for June 21st, 2010

Thought for the Day

Monday, June 21st, 2010

Credit to Max Keiser:

The BP oil geyser and the Wall St. risk geyser (in the form of HFT trading and algo trading) put enormous power into the hands of lethal psychopaths. Their message is simple, don’t try and stop us or we’ll kill and bankrupt all of you. Obama, the ‘Patty Hearst’ President, basically picks his nose and hopes for the best.

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Chinese Yuan: bent but not bowed

Monday, June 21st, 2010

Full story here from ZeroHedge.

By Dian L. Chu, Economic Forecasts & Opinions

The currency issue has been a constant tension in relations between the United States and China. Many analysts had expected the Chinese central bank to announce a one-off revaluation in the yuan to appease critics of the exchange rate policy.

However, on Sunday, the People’s Bank of China (PBOC) has ruled out the one-off revaluation that US politicians had sought. This was seen as a largely political move to deflect criticism of its fixed exchange rate ahead of the G20 meeting next week.

For now, Analysts still expect the yuan to slowly rise. Meanwhile, the decision should not have come as a surprise as there are several major risks (discussed below) should China implement a faster yuan move as favored by many. (more…)