China Yuan strengthened beyond 6.40 dollar for the first time since 1993–the currency rose 0.37% to close at 6.3945 in Shanghai, its largest gain in 9 months. The Yuan touched 6.3895 the strongest level since the country unified official and market exchange rates at the end of 1993 The Central Bank’s reference rate was boosted 0.27% to 6.3991
Yesterday I wrote here that gold prices are skyrocketing, evidencing long term inflation fears resulting in an erosion of the purchasing power of the dollar which have ruined societies from the Roman Empire to modern day Zimbabwe.
If there was any lingering doubts that the Obama Regime’s mismanagement of the economy is destroying American opportunity, this most disturbing news should put any remaining confidence in Progressive/Dem-Socialists grandiose schemes to final rest.
More here from China Digital Times
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