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l****z
发帖数: 29846 | 1 China Blows Another $99 Billion of Reserves in January: Yuan Intervention
and Results in Pictures
Feb 2016
Posted by mishgea | February 7, 2016 11:49:30
China Blows $99.5 Billion Defending the Yuan in January
China has blown about $1 trillion in US reserves defending the yuan from
capital flight in the last year. Nearly $100 billion of that reserve outflow
came in January. Let’s s take a look at the results in pictures.
Intervention Results in Pictures
Interventions Don’t Work
From 6.214 to 6.569 is a 5.4% decline in the yuan relative to the US dollar
since August.
China’s intervention has not accomplished much of anything other than
blowing currency reserves. In general, currency interventions don’t work.
China’s Dwindling Reserves
The BBC reports China’s Currency Reserves Plunged in January
China has been running down its vast foreign currency reserves in an
attempt to boost the value of its own currency and stem a flow of funds
overseas.
At $3.23 trillion, China still has the world’s biggest reserve of
foreign currency holdings. But that has declined by $420bn over six months
and stands at the lowest level since May 2012.
Many Chinese businesses hold debt in dollars and managing those debts
with a severely weakened yuan could cause problems and some companies to
fail. So China has been trying to engineer an ordered devaluation of the
yuan, but that is proving hard to deliver.
Investors have been trying to pull funds out of investments priced in
yuan and speculators have been betting on further falls in the currency.
To stabilize the situation China has been selling dollars and buying
yuan.
Prop Job Unsustainable
China still has over $3 trillion in reserves, but it cannot continue burning
them up at the rate of $100 billion a month or they will be gone in less
than three years.
On August 11, 2015, China Joins Currency War With Surprise Devaluation,
Biggest One-Day Move on Record.
That surprise devaluation was supposed to be a “one time” affair with the
yuan subsequently stable. In August, following the devaluation, I received
a reader question: Is China a currency manipulator?
Of course China is. So is the Fed, ECB, bank of Japan, and every other
central bank.
China and the National Bank of Switzerland manipulate their currencies with
pegs. The ECB, Fed, and Bank of Japan manipulate currency with interest rate
interventions and QE. The Bank Japan also intervenes directly. | t*c
发帖数: 8291 | 2 别看中国了，
还是花时间看看日本吧，真的是快崩溃了。连负利率都不顶用，日本央行实在是撑不起
国民经济了。巴西，阿根廷，加拿大，澳大利亚都快破产了。
还有欧洲最牛逼得德国也不行了，德国最大银行德意志银行要破产了，对市场的震撼力
将会超过３个雷曼兄弟破产。德意志银行要是破产了，整个欧元区都要破产。
现在中国美国属于全球最健康的两个经济体。会一直撑到其他国家全部破产之后，
再PK一下，留下一个。看美国黑墨化有多快了。
outflow
【在 l****z 的大作中提到】
: China Blows Another $99 Billion of Reserves in January: Yuan Intervention
: and Results in Pictures
: Feb 2016
: Posted by mishgea | February 7, 2016 11:49:30
: China Blows $99.5 Billion Defending the Yuan in January
: China has blown about $1 trillion in US reserves defending the yuan from
: capital flight in the last year. Nearly $100 billion of that reserve outflow
: came in January. Let’s s take a look at the results in pictures.
: Intervention Results in Pictures
: Interventions Don’t Work
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