People's Bank of China announcement to increase exchange rate flexibility

[hablrob]

Ok. Great path clearer for IQD!

Statement by IMF Managing Director Dominique Strauss-Kahn on China’s Exchange Rate Regime

Press Release No. 10/251

June 19, 2010

Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following statement today on China’s exchange rate regime:

"The People's Bank of China announcement to increase exchange rate flexibility and return to the managed floating exchange rate regime in place prior to the global financial crisis is a very welcomed development. A stronger renminbi is in line with findings of the G-20 Mutual Assessment Process, to be presented in Toronto next week, and will help increase Chinese household income and provide the incentives necessary to reorient investment toward industries that serve the Chinese consumer."

http://www.imf.org/external/np/sec/pr/2010/pr10251.htm

[ProPlayr]

Ok. Great path clearer for IQD!

Statement by IMF Managing Director Dominique Strauss-Kahn on China’s Exchange Rate Regime

Press Release No. 10/251

June 19, 2010

Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following statement today on China’s exchange rate regime:

"The People's Bank of China announcement to increase exchange rate flexibility and return to the managed floating exchange rate regime in place prior to the global financial crisis is a very welcomed development. A stronger renminbi is in line with findings of the G-20 Mutual Assessment Process, to be presented in Toronto next week, and will help increase Chinese household income and provide the incentives necessary to reorient investment toward industries that serve the Chinese consumer."

http://www.imf.org/external/np/sec/pr/2010/pr10251.htm

Sounds like there going to rv possibly, next week? maybe..........I emailed The Central Bank of Iraq yesterday and asked why is the currency auctions are still halted.. No answer yet..I'm waiting to see what they say...

Edited June 19, 2010 by ProPlayr

[justin88]

Wake up people China just rved and guess who is next!!!!

[luckylucy]

great find, hablrob .. thanks!

luckylucy

[brookie]

Good it is about time China"s goverment stopped treating thier people like they are Shi* under thier feet. (Talk about a short term mem. )In WWII we stoped the **** from setting up shop there and now it is thier turn to help us out and they want to boss the USA around over some money? Can we charge them $85.00 per sq.foot for the land we helped them keep. + intrest. I wonder if they would have to come up with a little after the debt they hold on us is clear.

It realy chaps my a$$ that after pulling the worlds collective butts out of the ringer in not 1 but 2 world wars. Even going as far as pulling Japan up and rebuilding her with no mention of repayment.

The whole darn world is still looking for a way to bring us down.

Ok fine say they do ,who will take our -place? Will it be like the fall of Roam where the world is pulnged head long into the dark ages.Or worse China rules the world oh hell they don't care if the people of china starve it would be hell on earth.

No.... God save the USA, Enland , & Australia. With out freedom this whole place will be ruled by greed that makes things today look like Heavan.

Sorry for the rant but I think the world owes us something ,all but the Germans. They fought and lost.

[hot2bewe]

Just to keep facts clear China did not RV, they simply returned to a managed float as prior to the economic crisis. It's not going to jump over night but will gain gradually. Further China has nothing to do with Iraq completing a RV. Show me one spec of proof that points to this other than China buying several oil contracts which in reality has very little or nothing to do with a RV for Iraq.

"God save the USA, Enland , & Australia. With out freedom this whole place will be ruled by greed that makes things today look like Heavan."

Last time I looked everything in this world is ran by greed even in this country.This is a true story:

My wife came home from work and said a older lady started telling her about her adventure last night. The lady had been driving down a very busy road and saw 3 kids crying on the corner. It was around 9pm. She stopped to asked the kids if everything was alright and they told her that their mother dropped them there in the afternoon after lunch and never came back, they were 10, 8 and 6. The lady proceeded to take them to Dennys to feed them and called the police. They came and took the children to social services, but the lady still went to walmart and bought them some PJs for bedtime. The point of this is how many people drove by and did nothing as these 3 children sat there in 98 degree heat. The lady was 86. I admire our older generation as they actually take the time to look at what's going on around them as younger generations typically just go about their business concerned when the football game starts or trying not to miss a nail appt. The bottomline is people need to wake up and stop looking at all the BS and pay attention to the important things that are really going on. Greed is everywhere and there is no bigger place for it then in the US.There is more corruption in the US then all other countries totalled together, anyone that thinks otherwise already passed those 3 kids by and did nothing.

[Teresa82]

Live rates at 2010.06.19 16:48:00 UTC

1.00 USD = 6.82770 CNY view USD/CNY chart

United States Dollars China Yuan Renminbi

1 USD = 6.82770 CNY 1 CNY = 0.146462 USD

here is today's rate, same as always right???

[brookie]

Just to keep facts clear China did not RV, they simply returned to a managed float as prior to the economic crisis. It's not going to jump over night but will gain gradually. Further China has nothing to do with Iraq completing a RV. Show me one spec of proof that points to this other than China buying several oil contracts which in reality has very little or nothing to do with a RV for Iraq.

"God save the USA, Enland , & Australia. With out freedom this whole place will be ruled by greed that makes things today look like Heavan."

Last time I looked everything in this world is ran by greed even in this country.This is a true story:

My wife came home from work and said a older lady started telling her about her adventure last night. The lady had been driving down a very busy road and saw 3 kids crying on the corner. It was around 9pm. She stopped to asked the kids if everything was alright and they told her that their mother dropped them there in the afternoon after lunch and never came back, they were 10, 8 and 6. The lady proceeded to take them to Dennys to feed them and called the police. They came and took the children to social services, but the lady still went to walmart and bought them some PJs for bedtime. The point of this is how many people drove by and did nothing as these 3 children sat there in 98 degree heat. The lady was 86. I admire our older generation as they actually take the time to look at what's going on around them as younger generations typically just go about their business concerned when the football game starts or trying not to miss a nail appt. The bottomline is people need to wake up and stop looking at all the BS and pay attention to the important things that are really going on. Greed is everywhere and there is no bigger place for it then in the US.There is more corruption in the US then all other countries totalled together, anyone that thinks otherwise already passed those 3 kids by and did nothing.

Sounds to me like you need to get out more. I have traveld the world and the USA is a strong hold of all that is good . I am not saying all are good. I would have stopped and brought the kids to my place til Kim and I could do better by them . Most would not.

The older gen. you are kidding right, god I hope so, the hippies are all for one and that one is me. The WWII gen would not pi$$ on you if you were on fire. 50 and under we do not hold the power to make the changes, but you have kinder hearts there. The rest of the world is full of hash dins and red light districts. Not all the folks are bad I have meet good every where I have been. But the USA is the best the world has to offer . New Zeland was good too, may be better. I don't know for sure. I would never move away from the USA but if I had to pick a place to go. New Zeland would be it .

I hope you are not to Jaded by all the bad there is in the world. There is still good every place you look too.

[rottentwink]

[i know a little about how greedy people are, my friend had to run into wal-mart for one thing, she had a real bad limp from working all day, I had given her 2 bucks for the item and went to bring the car around so she wouldn't have to walk. The bill came up to $2.08, she asked the well dressed man behind her if he had the 8 cents but he flat out refused to help her, she even said she would walk out with him and get the money from me, but he just stared at her. She ended up limping out of the store when a young black woman hurried up and dropped a dime in her hand.

I 8 cents, someone couldn't be bothered for 8 cents, I feel that was the most disgusting, horrible and selfish thing I had ever heard. If she hadn't been hurting really bad I could see, but she could barely walk. This happened in the Villages Florida, a retirement community where the money is spent on alcohol, golf carts and golf.

Sorry to rant but I just wanted you guys to know if you are looking for a place to retire to AVOID THE VILLAGES, everyone here seems really nice I would hate for you to get stuck in such an unhappy, selfish place.

Go RV

[LOCOMOJO]

..........Every percentage point that China gains in the market now makes our debt to them a wee bit smaller, they have been crowding us back, not in the same way,.. what they want is for the USA to back the Dollar with the Gold Standard again, problem is, our debt over-all nearly matches our GDP, .........NOT ENOUGH GOLD IN THE WORLD TO BACK THAT!!!!!!!!...........but they assume we will soon be able too,...HHMMMMMM. Do they know something that we don't know?,....OF COURSE THEY DO!!!!!!!................. Obama said he wanted to make the undervalued Yuan one of the primary focal points at the G20 summit in Canada this month (26th -28th I think) this is a slick move by China NOT to RV but to return to float before this meeting, it takes their head off of the stump, .......Mean while,... this means that they might use the same tactic with the VND, ie: float margin,..(being that they are reliant on China's currency) ...don't fret, it wont take long to climb if that happens because it will follow the Yuan as it CLIMBS, (and it will SWIFTLY) as other producers in the world get some elbow room to compete in the export mkt., ........I think China has been intending to do this all along but were dragging their feet wanting the IQD to go first,so they could make more on that currency by raising the value of theirs immediately after,(obviously not caring about the global effect this would have,but then again when have they ever?).......The USA still has the best cards at this point, ........Can China insist that the IQD come in above the Kuwait dinar? ......NO! , NOT GONNA HAPPEN, too devastating to Iraq,.................this man's math says,.............$2.16........(I know..I was guessing $1.49 before,......I re-thunk it a bit)

...........................JUST A GUESS FOLKS NOT A PREDICTION!

*****************CHANCE FAVORS THE PREPARED MIND!!................LOUIS PASTEUR************************

[Bacon2782]

If china is complaining about the debt we owe the I say we buy American and cut them out of the equation.

[deenar]

As the yuan rises, so will the dong.

[shannybelle27]

As the yuan rises, so will the dong.

Ummmm????? Lol...I agree though I think the VND is next to go or rise..whatever you want to call it!

[reigny]

I read an AP article that seemed to maintain a tone of skepticism. The People's Bank of China didn't mention any specific policy changes. Sen. Charles Schumer was quoted as saying, "This vague and limited statement of intentions is China's typical response to pressure. Until there is more specific information about how quickly it will let its currency appreciate and by how much, we can have no good feeling that the Chinese will start playing by the rules."

So they may just be stalling to avoid heat at the G20 summit... At this point, any currency news piques my interest It would be interesting to know whether or not China was holding out for the IQD, although I'm not certain that the two are even remotely related . The longer we're invested, the more tempting it is to try and find conspiracies

[shannybelle27]

Rotten, Nice story...however....If she was hurt that bad and you were not such an A$$.....Why didn't you just go in and get the $2.00 item for her yourself..... You want to bash other people but you made her go in the store when you could have done it. You are the selfish, horrible, rotten person you are speaking of. I would have left her at home and gone to get her whatever she needed just so she could relax because that would be the right thing to do. Look in the mirror next time you type some stupid crap like that and ask.... Am I the selfish one?????

oh and Shannybelle27..... You could make my VND rise anytime...lol...Just kidding(not really)...now stand up already...you are killing all of us guys:) lol

Now i wouldn't be leaving much to the imagination if I was standing up now would I...and where would the fun in that be??? jk

Have a great weekend

Edited June 19, 2010 by shannybelle27

[rottentwink]

Rotten, Nice story...however....If she was hurt that bad and you were not such an A$$.....Why didn't you just go in and get the $2.00 item for her yourself..... You want to bash other people but you made her go in the store when you could have done it. You are the selfish, horrible, rotten person you are speaking of. I would have left her at home and gone to get her whatever she needed just so she could relax because that would be the right thing to do. Look in the mirror next time you type some stupid crap like that and ask.... Am I the selfish one?????

oh and Shannybelle27..... You could make my VND rise anytime...lol...Just kidding(not really)...now stand up already...you are killing all of us guys:) lol

Sorry guy, I went to get the truck so she wouldn't have to walk out, I tried to get her to relax but some people are way to stubborn...