Thanks My Ladies for letting us share from your private chatroom
PrincessDD: Are you seeing what happened yet? CHINA DEPEGGED FROM THE USD IN AUGUST!!
BRO: WELL ML AND NOVA WERE CORRECT, HUH?
PrincessDD: WELL IT SEEMS THAT IT DEPEGGED AND IS FREE FLOATING NOW AND CAN DO WHAT THEY WANTED IT TO DO NOW…..
CHINA DEPEGGED AT THE SAME TIME ALL THE "STAN" COUNTRIES DID LAST MONTH…..THEY HAD TO DEPEG FROM THE USD BEFORE THEY COULD PEG TO THE SDR BASKET.
MY LADIES: GREAT WORK PRINCESS...CHANGE IS HAPPENING RIGHT IN FRONT OF US... AND ALL THIS JUST CONFIRMS THE SDR ROLE IN EVERYTHING.
PrincessDD: What do you think about the articles stating that depegged from the dollar?
MY LADIES: I THINK THIS WILL HAPPEN FOR SURE...EVEN THE DOLLAR IS DEPEGGING FROM ITSELF AND ALL CURRENCIES WILL BE PEGGING TO THE SDR...REMEMBER
PrincessDD: China Must Free-Float Yuan In Order to Cut Rates: Woo http://www.bloomberg.com/news/videos/2015-08-27/china-must-free-float-yuan-in-order-to-cut-rates-woo
Princess DD: Time to rethink damaging HK dollar peg https://www.tradingfloor.com/posts/time-to-rethink-damaging-hk-dollar-peg-6247663
Princess DD: Hong Kong should devalue the currency peg
Princess DD: Gulf countries will stick to currency dollar-pegs, Fitch says
Gulf currencies pegged to the US dollar have come under pressure but Fitch said that the decision to remove the pegs will most likely be political http://gulfbusiness.com/2015/09/gulf-countries-will-stick-currency-dollar-pegs-fitch-says/#.VgPMCbPL9z0
Princess DD: Currency Troubles Pile on the Misery for Iraq http://www.businessweekme.com/Bloomberg/newsmid/190/newsid/1151/Currency-Troubles-Pile-on-the-Misery-for-Iraq
Princess DD: Can The Saudi Economy Resist 'Much Lower For Much Longer'?
snippet (not on the actual page for some reason)
...ultimately could force the Saudis to break the peg (unleashing such unpleasant ... Iraq, one of the three major contributors to 2015's surplus production ... to believe (or maybe hope) Saudi currency reserves are sufficient to ... http://seekingalpha.com/article/3526046-can-the-saudi-economy-resist-much-lower-for-much-longer
Princess DD: A different pivot to the East
Andrew Sheng Asia News Network Hong Kong September 23, 2015 1:00 am
President Xi Jinping's visit to the United States this week marks an important stage in Sino-US relations, the most critical of current geostrategic relationships. It comes at a crucial time for the global economy, as the US Federal Reserve debates whether to raise interest rates, and the world's financial markets (and exchange rates) reel from worries stirred up by China's decision to loosen the yuan rate.
Princess DD: Why China Crashed Last Month….A change in the value of “pegged” currencies. http://www.dailyreckoning.co.uk/economy/why-china-crashed-last-month/
Princess DD: All about the eurodollars, redux (eurodollar liquidity shortage) http://ftalphaville.ft.com/2015/09/24/2140580/all-about-the-eurodollars-redux/
Princess DD: Don't overvalue China…It’s entirely appropriate for China to de-peg from the dollar and in fact, the more-free yuan is what will help rebalance the Chinese economy.
We can’t drop the Fed as our main concern—especially with speeches this week from numerous Feds, including Yellen, but we also have other items to occupy our minds. We have the Pope and Premier Xi visiting the US, and three guesses who gets the bigger crowds. We also get some good data, including existing home sales, the FHFA housing price index, durables, the usual jobless claims on Thursday, and on Friday, another revision to Q2 GDP. Let’s not forget Yom Kippur (Wednesday). Thursday is going to be a strange day, with the Pope addressing Congress in the morning and Yellen speaking at 5 pm, with the delicious topic “Inflation Dynamics & Monetary Policy.”
Princess DD: Time not yet right for UAE to depeg from the dollar
Because of the peg that most local currencies have to the dollar, the repercussions will probably be limited to the oil market. Because crude is priced in dollars, a rise in the value of US dollars that would follow a rate rise would make oil assets comparatively cheaper, in a world already awash with them. http://www.thenational.ae/business/markets/time-not-yet-right-for-uae-to-depeg-from-the-dollar
PrincessDD: A low-growth, lower-return world: get used to it
He also noted concerns around the very negative market sentiment, highlighted by the market's reaction to China's move to de-peg its currency from the US dollar, taken as a step towards more competitive exports than part of its commitment to move towards a freer marketplace.
Read more: http://www.smh.com.au/business/markets/a-low-growth-lower-return-world-get-used-to-it-20150916-gjnz5c.html#ixzz3meRoAqrg
PrincessDD: China: Credibility on the line
The PBoC has since spent roughly $200bn in the onshore and offshore currency markets to keep the renminbi from devaluing further, begging the question of why it decided to de-peg its currency to begin with.
“Before they announced this reform they had a credible peg to the US dollar and they hardly needed to intervene in the [foreign exchange] markets, but now they are having to spend huge amounts just to achieve the same effect,” says a person with ties to the PBoC. “It’s like they decided to cross the river because it looked nice and calm but then they slipped and got dragged downstream, and now they are having to use all their strength to get back to the shallow water they were in before."
The central bank also said this devaluation, the first by China since 1994, would be accompanied by a new “market-oriented” mechanism for setting the daily benchmark from which the currency can rise or fall by up to 2 per cent on a given day. This effective de-pegging of the renminbi from the dollar led to two more days of devaluation before the central bank decided to halt the slide by buying the Chinese currency and selling US dollars.
The mishandling of a bursting stock bubble — and especially the decision on August 11 to break a two-decade taboo and devalue the renminbi — have badly shaken global faith in the Chinese model of market authoritarianism. http://www.ft.com/intl/cms/s/0/24de9e86-4d76-11e5-9b5d-89a026fda5c9.html#axzz3meSWLpK4
PrincessDD: China, Russia and the Still-Almighty Dollar
The yuan isn't the only major currency the Chinese government has been toying with in recent months. http://www.usnews.com/news/articles/2015/09/24/are-china-and-russia-trying-to-undermine-the-us-dollar
PrincessDD: Closer Look: How AIIB, BRICS Bank Are Facing Up to Early Challenges
The two new development banks are nearing their launch dates and their first hurdles, but already appear to have strategies in place for clearing them
PrincessDD: China's central bank is drafting new rules for yuan-denominated bonds sold by foreigners on the mainland, and plans to let more companies ... http://www.scmp.com/business/markets/article/1861156/china-ease-rules-issue-yuan-denominated-bonds-sources-say