Everyone Missed It, But China Has ALREADY Retaliated For Last Night’s Big Currency Vote In The Senate

October 13th, 2011

FAKE NEWS for the Zionist agenda

Joe Weisenthal
BusinessInsider
Wednesday, October 12, 2011

Last night, the Senate passed a bill that would impose tariffs on currency manipulators like China.

It’s not expected to pass the House or get signed by The President, but China has already responded to the provocation.

As Nomura explains, it fixed the yuan shockingly low against the dollar last night, moving it in the exact opposite direction the U.S. wants:

The disappointing USD/CNY fix today, 116 pips higher than yesterday’s (to 6.3598) and compared with our model forecast of 23 pips could reflect an element of Chinese retaliation to the Senate’s vote. The last time we saw such a big fix (compared to the previous session) was on 29 November 2010 (147 pips), which came on the back of EUR weakness (broad USD strength) on EU-related debt concerns (primarily Ireland). Previous large USD/CNY fixes that surprised on the upside (in October-November 2010) coincided with either North Korea provocation or followed major political events (the G20 Leaders summit, Premier Wen Jiabao’s October visit to Europe)
However, before you think we’re looking at a full-on trade war, some caveats:

1) The approach of the G20 Leaders summit (3-4 Nov) could still see USD/CNY resume lower fixings (after today’s ‘warning shot’);

2) Macro data continues to support CNY appreciation over the medium term. This Friday’s September CPI will be closely watched, with Nomura forecasting 6.3% y-o-y (Consensus, 6.1%; Previous, 6.2% – Exhibit 2). Thursday’s trade data should also be supportive, with September exports expected to rise by 20% (Consensus: 20.8%) and the trade surplus expected to widen to US$20.3bn (from US$17.8bn in August); and

3) It is still too early to conclude that the Schumer bill will actually become law.

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Comment Rules

27 Responses to “Everyone Missed It, But China Has ALREADY Retaliated For Last Night’s Big Currency Vote In The Senate”

They are making money from us so they will complain but I cannot imagine them killing the golden goose.

Meanwhile, we go on giving away the country and the future of our children.

Barakis Reply:
October 12th, 2011 at 8:51 am

This country is run by Millionaire and Billionaires. They dont’ give a shit about our children and their childrens children will be taken well care of with the estates they leave behind.

Quantummonkeybutt Reply:
October 12th, 2011 at 9:21 am

There Is No Better Example Of Your Statement Than VACCINES!!!

‘Thiomersal’ (a.k.a. ‘Merthiolate’, a.k.a. ‘Merbromin’) Mercury Poisoning IS MASS STUPEFYING THE PUBLIC!!!

FU% YOU WAL-MART!!! NO!! I DON’T FEEL WELCOME WITH YOUR GREETERS TRYING TO SHOVE A NEEDLE UP MY A$$ WITH MERCURY POISON IN IT!!!

But, The Vaccine Market Is Worth BILLIONS A Year Globally (FOR THE INDIGNANT WEALTHY INBRED SNOBS), And If A 1/10 Of 1% Of The Kids Who Get Vaccine Shots Get Autism, Or Die, FU% ‘em, RIGHT?!?!

QMB
auto-
immune

AandO Reply:
October 12th, 2011 at 10:42 am

YOU MEAN TRILLIONAIRES, RIGHT?

Talking to you Barakis
Wealth is assets like real estate, gold and silver business etc. and that is transferred.
Paper money is not wealth and it is created out of thin air and it will disappear into thin air.

In the midst of this recession, the transfer of money gives you the opportunity to profit
like no other time in history, (click on my profile name to go to my blog to see my full video)
Good for them
CHINA Don’t miss a thing.
Don’t try and invent anything and market it. It will be duplicated in a matter of months in China.
The corporations are going to loose all there trade secrets to the Chinese.

China will become world power and come to America to police you and teach you about Communism, Social-Imperialism and how well it works. Don’t like it?
Well, Prepare to Die.
The Chinese are in charge now. Apparently when martial law is called they’re going to be allowed in to suppress the masses with those lovely little blue helmets.

Captain Ron Reply:
October 12th, 2011 at 11:12 am

“Apparently when martial law is called they’re going to be allowed in to suppress the masses with those lovely little blue helmets.”

Man o’ man… and will they ever look sweet… especially against the backdrop of my illuminated Mil-Dot reticle.

Smile for the camera boys!!! Wait for the flash!!! Say Cheezzzzzeeeeeeeee!!!

Ohio Militia Reply:
October 12th, 2011 at 12:48 pm

Could not agree more. M-14 all day long.

dhsn Reply:
October 12th, 2011 at 3:23 pm

China only does what Roachyfeller allows them to do. He made ‘em, and when it suits his purpose, he’ll break ‘em. Remember, it was a Roachyfeller who fired Nikita Khruschev.
collectivist chicken hawks on both sides trying to instigate ww3.

ConspiratusUbiquitus Reply:
October 12th, 2011 at 2:33 pm

lol
As long as America keeps buying their junky crap , they will rule . Stop the insanity people , boycott Chinese goods . When they lose money on their crappy dry wall ( poison ) toys and fireworks , it will hurt them . Have a protest on Chinese products , stealing our jobs from this country .
We put ourselves in this dangerous situation by not having tariffs from the beginning and protecting the American Worker. We pass environmental law that are over the top and raise our taxes son Business and driven it out of the county. Our politicians are not stupid, so I must conclude they did it on purpose.

[email protected] Reply:
October 12th, 2011 at 1:59 pm

you got that wright rick if you wont to read the blueprint agenda 21 in the un web site.
TRANSLATION: NWO BEHIND TIME LINE ON WWIII; DESPERATE MEASURES AHEAD
Fuk China!

ringo stark Reply:
October 12th, 2011 at 1:53 pm

me luv china long time

ringo stark Reply:
October 12th, 2011 at 1:58 pm

yes me do

dhsn Reply:
October 12th, 2011 at 3:25 pm

Love love me do. 1962.
What should be done is have these tariffs and add penalty in relation to how low they fix the Yuan. China has already deliberately kept it low and think that lowering again will scare the US but the lower they fix the Yuan the higher the tariffs should be. WE should decide what their products are priced, it’s friggin’ country! Or is it?

If we penalize them and/or force them to raise the value of the Yuan to what it should be then other businesses will have a chance in this country which means more jobs.

China is literally allow companies like Walmart to run the markets while American made goods cannot compete. China is directly costing jobs in this country.

Ohio Militia Reply:
October 12th, 2011 at 12:55 pm

Yeah and we keep buying the junk. Save a dime on a towel rack!!!! Buy some lead painted toys and while your cashing your gobbberment check ask why you dont have job. or wait maybe you can get a min. wage job at WAL-MART!!!!!!!!! FTW

ringo stark Reply:
October 12th, 2011 at 1:59 pm

keep buying the $10 iphone that sells for a 10k markup, keep it up and you’ll be lucky to get hired as a shoe shine boys assistant
Yeah…Stop shopping at China-Mart and Target….But I look at where stuff is made every time I buy something….and IT’S ALL MADE IN CHINA!!!!!.THEY HAVE REALLY SCREWED US GOOD…..But WE WILL BE VICTORIOUS…..POWER TO THE PEOPLE OF THE WORLD….WE HAVE IT…THEY DON’T!!!!!
I am not knowledgeable about Chuckie Schumer’s Bill. It’s currency stipulations are unnecessarily complex and makes what should be simple, easy to understand position into technocratic double talk.
A true tariff is what is needed. I do not want to hear about currency re-valuations.
HERE IS A MAJOR FLAW WITH RON PAUL AND the Austrian School Economics. Paul is a FREE TRADER by ideology.
He admits in his book “End the Fed” that the Congress has the explicit Constitutional authority to establish Trade Policy for the USA. Ron Paul believes that Free Trade is by definition the best Trade Policy.
Free Trade is A policy. It is not the only one. IF the Congress has the explicit power to create Trade Policy even NO POLICY is a policy. The Free Traders loved NAFTA, CAFTA, and are pushing for more and more of these Free Trade associations.
I believe libertarianism can only be successful within nations. The International Border is where the Congressional authority to support American Trade operates. Even a libertarian must recognize that national borders are to control the flow of people, and goods. The US Market is the greatest one in the world and access to it ought not be treated lightly!
It is not libertarian to allow companies to outsource production and to import here for free. No Ideology, not even Libertarianism, is so compelling that we throw our working class into competition with Asian coolie labor! Pat Buchanan is right on this, Ron Paul wrong. And this is the predominant issue of our times.
Our America is being destroyed by the Free Trade Ideologues and Wall Street. The Northeast is a rust-bucket wasteland. We can’t make a pair of shoes here? A TV, a Computer, almost nothing can be made here at a profit when facing competition of oppressed labor and actual real polluting factories.
A Tariff that would attempt to approximate what it would cost to be made here ought to be slapped on every product from every nation that has as skewed a balance of trade with us as does China. The proceeds of the Tariff will balance the budget and/or stimulate domestic production which will lead to increasing employment, increased wealth production, increased real estate, and improvement in every are that seems so hopeless now. ONLY TRUMP of all the candidates brought this up. Why? Is it even a greater conspiracy than The Fed?
Pat Buchanan ought to have been the grandpappy of Tea. Like Ron Paul, he too saw the Empire for what it is; the fulfillment of Ike’s warning about the Military Industrial Complex.
Unlike Paul, however Pat understands the organicity of a nation; it can not live on Ideology, but by sound economic and trade policy. The Fed has allowed our Trade Balances to de-industrialize us. If not for the Fed, soon a weak dollar would have imposed its own natural organic Tariff by making imports more expensive. But the Fed by printing has allowed for our heartland to become a land of heartbroken cities and towns with rusting away rail sidings, broken windows, gang graffiti and drugs. This is the direct result of deindustrialization. A “Services” Economy of “Information Wealth” was to replace all those smoke stacks. We will allow Asia to do the industrial labor, while we provide the Services (that have remained somewhat mysterious!) I suppose by “services” is meant Insurance, Pharmaceutical Research, Global Investment Firms allocating the “world’s capital” to where it can make the best return and other Corporate Yuppie Careers.
The 9 to 5 blue collar Man, with calloused hands and a lunchpail, union card, who was able to raise a family, educate his kids, pay for the house while the wife was home being a mother to his children are now gone. How can he compete with one dollar a day coolie labor?