China Currency Plunges Most In Over 5 Years, Biggest Weekly Loss Ever: Yuan

tabnloz

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Quote from: pleiotropik on March 01, 2014, 01:19:22 AM

Ignore Zerohedge at your own risk. Main source of financial news, and getting better at international reporting every day. As an aside: the best debates over BTC i've read have been there. The name to look up is Fonestar.

the debates are fun but repetitive mainly because many of the gold advocates are stuck in their ways. fonestar's humour is great though.

pleiotropik

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Ignore Zerohedge at your own risk. Main source of financial news, and getting better at international reporting every day. As an aside: the best debates over BTC i've read have been there. The name to look up is Fonestar.

tabnloz

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Quote from: ElectricMucus on February 28, 2014, 09:40:02 AM

http://rationalwiki.org/wiki/Zero_Hedge

Quote

Zero Hedge[1] is a batshit insane Austrian economics-based finance blog run by a pseudonymous founder who posts articles under the name "Tyler Durden," after Chuck Palahniuk's Fight Club personality.

Tyler claims to be a "believer in a sweeping conspiracy that casts the alumni of Goldman Sachs as a powerful cabal at the helm of U.S. policy, with the Treasury and the Federal Reserve colluding to preserve the status quo." While this is not an entirely unreasonable statement of the problem, his solution actually mirrors the anatagonist in Fight Club in that Tyler wants, per Austrian school ideas, to lead a catastrophic market crash in order to destroy banking institutions and bring back "real" free market capitalism.[2]

The site posts nearly indecipherable analyses of multiple seemingly unrelated subjects to point towards a consistent theme of economic collapse any day now, and has accurately predicted 200 of the last 2 recessions. Tyler seems to repeat The Economic Collapse Blog's idea of posting blog articles many times a day and encouraging people to post it as far and wide as humanly possible. Tyler moves away from the format of long lists to write insanely dense volumes[3] filled with (often contradicting) jargon that makes one wonder if the writers even know what the words actually mean.[4] The site first appeared in early 2009, meaning that (given Tyler's habit of taking a shit on each and every positive data point), anyone listening to him from the beginning missed the entire 2009-2013 rally in the equities market.

Fair enough. It has the reputation of being an extreme goldbug/prepper/doomsday site, however it does occassionally break news first that hits the MSM a day or two later. Im not quite sure here but didn't it originally break news about GS market manipulation of MBS's?

ElectricMucus

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Marketing manager - GO MP

http://rationalwiki.org/wiki/Zero_Hedge

Quote

Zero Hedge[1] is a batshit insane Austrian economics-based finance blog run by a pseudonymous founder who posts articles under the name "Tyler Durden," after Chuck Palahniuk's Fight Club personality.

Tyler claims to be a "believer in a sweeping conspiracy that casts the alumni of Goldman Sachs as a powerful cabal at the helm of U.S. policy, with the Treasury and the Federal Reserve colluding to preserve the status quo." While this is not an entirely unreasonable statement of the problem, his solution actually mirrors the anatagonist in Fight Club in that Tyler wants, per Austrian school ideas, to lead a catastrophic market crash in order to destroy banking institutions and bring back "real" free market capitalism.[2]

The site posts nearly indecipherable analyses of multiple seemingly unrelated subjects to point towards a consistent theme of economic collapse any day now, and has accurately predicted 200 of the last 2 recessions. Tyler seems to repeat The Economic Collapse Blog's idea of posting blog articles many times a day and encouraging people to post it as far and wide as humanly possible. Tyler moves away from the format of long lists to write insanely dense volumes[3] filled with (often contradicting) jargon that makes one wonder if the writers even know what the words actually mean.[4] The site first appeared in early 2009, meaning that (given Tyler's habit of taking a shit on each and every positive data point), anyone listening to him from the beginning missed the entire 2009-2013 rally in the equities market.

HairyMaclairy

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Degenerate bull hatter & Bitcoin monotheist

2% swing. In a single week ! Such wow ! So amazing ! Such profit !

porcupine87

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hm

Quote from: tabnloz on February 28, 2014, 04:13:53 AM

This is another salvo in a currency war.

Jim Rickards tweeted out today that this currency war is like the battle of stalingrad. meaning a long, devastating fight of attrition that will deplete both sides but be a fight to the death

hm but who is winning the war? The country with the biggest inflation? Devaluation is great. It make the owe population relativly poorer, but they don't recognize it, because the number on the paycheck is not decreasing. If I would be a politician, I would always do that.

tabnloz

legendary

Activity: 961

Merit: 1000

This is another salvo in a currency war.

Jim Rickards tweeted out today that this currency war is like the battle of stalingrad. meaning a long, devastating fight of attrition that will deplete both sides but be a fight to the death

F-bernanke

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http://www.zerohedge.com/news/2014-02-27/chinese-currency-plunges-most-over-5-years-biggest-weekly-loss-ever-yuan-carry-trade

If they keep this up, will people flock to BTC once again? And how will the authorities react if this happens?

Topic: China Currency Plunges Most In Over 5 Years, Biggest Weekly Loss Ever: Yuan (Read 1312 times)