John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (11585)	1/31/2009 12:02:44 AM
From: ajtj99	Read Replies (1) of 33421

John, that stuff with Schumer isn't going to happen. It's all political posturing. The stuff about China manipulating its currency was just an attempt to placate Schumer during confirmation hearings. FWIW, if China's currency were allowed to float freely there's a very good chance it would DEPRECIATE against the USD as much as 20% very quickly due to capital outflows. The law of unintended consequences. That's why the status quo of a quasi-fixed, pegged currency exchange between the USD and the RMB will reign for a year or more. FWIW, I've been on top of that Schumer stuff for almost two years now, so I'm quite familiar with it. In edit, I have spent more than two years in China, probably driven 20,000 miles by car in China, have access to some high ranking officials, and advise and consult some Chinese companies in China.

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