Offshore Yuan Right Under 7

Stockolio

Stockolio

https://www.marketwatch.com/investing/currency/usdcnh

Currently at 6.9766 heading into the weekend, massive protest scheduled August 5th in HK, with situation deteriorating fast for current regime, banking and business association is joining the anti government protest next week... If it hits 7 next week, what are the implications ? Last time it got in that area, sent shock waves across the world... Eurodollar loans in USD are gonna be hard to refinance or pay back, worth watching

Next week will be huge with Asian Markets playing the centre stage

https://www.reuters.com/article/us-...en-past-7-to-the-dollar-sources-idUSKCN1SN0NT
 
https://www.asiatimes.com/2019/08/article/hong-kong-strike-could-shut-down-the-city/

Protesters will rally in seven districts across Hong Kong when a city-wide strike is staged on August 5, marking the latest disruptive escalation in a months-long confrontation with government and police authorities.

Organizers say the seven districts will include Tamar Park in Admiralty, MacPherson Playground in Mongkok, Wong Tai Sin Plaza, Tin Hau Temple Fung Shui Square in Tai Po, Tuen Mun Cultural Square, Bishop Hill Hundred Stairs in Shatin and Tsuen Wan Park.

https://www.ctvnews.ca/world/hong-kong-protesters-throw-chinese-flag-into-iconic-harbour-1.4535570

https://www.cnn.com/asia/live-news/hong-kong-protest-mong-kok-intl-hnk/index.html

Police Stations are getting owned, china lost Hong Kong!!!! It's a matter of time until either Carrie the puppet lam resigns in shame and the commies flee HK, or the commies step up the violence which will solve nothing but in their minds is last choice... If the commies in china let democracy prevail in HK, they are done for. Mass unrest will start in china as well, they have to make an example out of HK so civil unrest doesn't spread to china. Either you look like a soft and you are doomed, or you come in guns blazing and doomed anyways

Anarchy is happening! Fire at police stations, inside cars, cutting cables and traffic lights going dark
 
Chinese capital flight is showing up in $BTC right now too. Just in the last few days $BTC/USD has increased by about 15% or $1600

~ $10,900 on Coinbase Pro as I write this

Those who can't get their money out of any regime due to capital controls will always find some way to circumvent autocratic dictums.

$BTC is essentially a new "store-of-value." No longer just a novelty, no longer merely in the realm of cypherpunks and anarchist, $BTC is now quick and easy Digital Gold. Keep on eye this as global events occur.
 
KevMo said:
Chinese capital flight is showing up in $BTC right now too. Just in the last few days $BTC/USD has increased by about 15% or $1600

~ $10,900 on Coinbase Pro as I write this

Those who can't get their money out of any regime due to capital controls will always find some way to circumvent autocratic dictums.

$BTC is essentially a new "store-of-value." No longer just a novelty, no longer merely in the realm of cypherpunks and anarchist, $BTC is now quick and easy Digital Gold. Keep on eye this as global events occur.
More...

BTC isn't digital gold... You can't put Bitcoins as collateral in repo markets or Eurodollar markets, but gold is accepted as collateral... Crypto's was a tool created by a Intelligence agency to make it " cool " to go cashless, debit and credit cards didn't do the job, maybe if we add a spin to it it'll get them to embrace cashless and fuck their rights.

BTC Otc in china is popular yes, but less now... The main method now to get money out requires being self employed, the over billing scam with HK, sometimes the transactions are pure fiction, just invoices ship useless stuff you re-send few weeks later just as excuse for transfer wires. Once you have HK Dollars, you're free to convert them overseas or send it right away to offshore accounts

Hong Kong is blowing up as we speak, it will not end well for Lil china or Hong Kong, they have made up their mind they are going back to a Democracy. china lost HK but will likely go down fighting in order to keep communism in HK
 
PBOC just started defending it... It quickly moved to 6.9832 at opening, they jumped on it and mass defending, almost at 6.98
 
$USD/CNH = Offshore Spot - Freely traded in Singapore, London, Lux...etc. $7.0891 as of 11:30pm PST.

$USD/CHY = OnShore Spot -- official set today $6.9110

Unaware of any CHY Future mrkt.

But, no idea why people would think Bejing would seriously try to defend the range of their self-imposed "Band," as if Barbarian were actually at the gate ready to storm through to rape, pilage, and plunder. Or why otherwise sane people ever though the CCP was really ever motivated NOT to deval.

Oh sure, they may feign fear and act as though they're on the verge of panic. The PBOC may want to make some half-assed effort to defend. Though, by PBOC letting CHY slide is merely preemptively devaluing their currency against the $USD and to a lesser extent, other global reserve currencies in order to neutralize themselves against a global slowdown in GDP, but more importantly against any threatened Trump import tariffs.

They know they have Trump is a box of his own making. They know he has overloaded his ass with checks his mouth cannot cash when Trump is consistently guaranteeing the American & Global Press that the Chinese are to imminently sue for peace. But, they know full well that he's under increasingly more pressure with each passing day as U.S. election season rapidly approaches.

Plus the CCP, of course, doesn't give a flying fawk about any hardships that Chinese citizens may feel through less economic activity and/or importing any marginal inflation that may result in a preemptive deval. CCP knows it's citizen are a hardy people that can live on a bowl of rice per day and sleep on a bamboo mat at night.

In fact, especially if CHY devaluation hardship does actually filter down to the people it may play right into their hands by giving the CCP free-regain to unleash the PLA on any civil unrest that may occur in Hong Kong and/or the Mainland.

Meanwhile, back in Capital Flight land...

Gold is trading at $1460
&
$Bitcoin going through $11,650
 
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