CNY (RMB) 02 (Feb 16 - Dec 25)

[winston]

Protect Yourself from China's Currency Contagion

By MICHAEL E. LEWITT

Source: Money Morning

http://moneymorning.com/2016/02/07/prot ... contagion/

[behappyalways]

對沖基金預警爆內銀危機
勢衝擊港銀行體系
已沽空港元人幣
http://hk.apple.nextmedia.com/financees ... 2/19487984

[behappyalways]

PBOC's Zhou Breaks His Long Silence
http://www.bloomberg.com/news/articles/ ... ng-silence


China bank chief says 'speculators' caused yuan fall
http://www.bbc.com/news/business-35573266

[behappyalways]

China’s problems ‘just gargantuan’
http://www.cnbc.com/2016/02/15/chinas-p ... ntuan.html

[behappyalways]

人民幣分兩種
在岸離岸大不同
http://hk.apple.nextmedia.com/financees ... 1455510652

[behappyalways]

China Lenders' Foreign-Exchange Holdings Omitted From PBOC Data
http://www.bloomberg.com/news/articles/ ... -pboc-data

[behappyalways]

人仔勢危　直擊大媽走資到港喪買保險
http://hk.apple.nextmedia.com/nextmag/a ... 1456123807

[behappyalways]

barclays-says-sharp-yuan-devaluation-needed-to-shift-psychology
http://www.bloomberg.com/news/articles/ ... psychology

[winston]

Does China Have Enough Reserves to Defend Its Currency?

Hedge funds think most of the $3.2 trillion are tied up and China will have to devalue soon

By Valentin Schmid

Mark Hart of Corriente Capital, thinks the Chinese currency will go down 50 percent against the dollar in 2016.

“China’s banking system is approximately $30 trillion in size and the bad assets are approximately 24 percent or so. That’s $7 trillion–$8 trillion of bad assets,”

Kyle Bass estimates that $2.7 trillion of the forex reserve is tied up.

Lorenz also says a lot of the money is held in illiquid investments, like loans to Venezuela, and cannot be used to defend the currency like U.S. Treasurys, which China can sell at any time.

As of December 2015, China had $1.25 trillion in Treasury holdings, according to the U.S. Treasury.

I’ve heard estimates of anywhere from $800 billion to $1.2 trillion of its reserves might actually be illiquid,” says Lorenz. The exact compos

China stockpiled a lot of base metals and energy commodities as soon as their prices started to decline a few years ago. State-run companies thought it was a buying opportunity. Because Chinese growth has slowed and many of the commodities haven’t been used, they could now be liquidated relatively easily for dollars.

Source: Epoch Times

http://www.theepochtimes.com/n3/1976470 ... -currency/

[behappyalways]

China's $175 Billion Outflow Wasn't Investor Flight, BIS Says
http://www.bloomberg.com/news/articles/ ... t-bis-says