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How to know When the Economy Will Collapse. "Currency Wars with China"

 
roo
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10/16/2013 05:20 PM
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How to know When the Economy Will Collapse. "Currency Wars with China"


China’s foreign reserves surge, are currency wars back

China's foreign exchange reserves saw their biggest quarterly increase since the second quarter of 2011, with experts noting that affairs in the U.S. are complicating China's constant need to wrestle control of its currency.

The country's stash of foreign exchange reserves rose to $3.66 trillion in the three months to the end of September, from $3.5 trillion in the three-month period ending in June. This $160 billion jump signals central bank intervention aimed at slowing gains in the yuan, which is currently trading at record highs against the dollar.

"This was the fifth largest quarterly increase on record," Simon Derrick, the chief currency strategist at Bank of New York Mellon told CNBC. "In other words, this was a return to the sort of conditions that prevailed during the height of the currency war in late 2010/early 2011."

(Read more: Yuan moves one step closer to global currency status)

Manipulating reserve levels can enable a country's central bank to intervene against currency fluctuations. Along with altering benchmark interest rates and quantitative easing there have been ongoing discussions in the last few years that countries are purposefully debasing their own countries to improve competitiveness - a concern that has been given the moniker "currency wars".

[link to www.cnbc.com]

[link to w3.newsmax.com]

Last Edited by roo on 10/16/2013 05:47 PM
Anonymous Coward
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10/16/2013 05:41 PM
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Re: How to know When the Economy Will Collapse. "Currency Wars with China"
hiding
Anonymous Coward
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10/16/2013 05:42 PM
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Re: How to know When the Economy Will Collapse. "Currency Wars with China"
the economy has already collapsed...
Anonymous Coward
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10/16/2013 06:10 PM
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Re: How to know When the Economy Will Collapse. "Currency Wars with China"
the economy has already collapsed...
 Quoting: Anonymous Coward 39203807


Wait for EBT to go down, then welfare, then social security, then get back to us.

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