The great walled country of China, the next great super’d power, wants information–perhaps leading to the capture and execution of parties abroad, responsible for selling short the yuan. The Chinese, who’ve drawn down on their FX reserves to the tune of $500 bill over the past year, have been twisting in the wind–trying to stem the capital outflows out of China. Clearly, short sellers are to blame.
PBOC also asked some Chinese banks and companies to collect information about short-selling orders in the offshore yuan market from Jan. 1, after noticing volatility at the end of last year, said two of the people.
The Chinese government has been seeking to bolster the yuan as capital outflows rose and bets increased that the yuan will depreciate with weakening economic growth. Yuan speculators entering short positions are expected to “suffer huge losses” as policy makers will take measures to stabilize the currency, the official Xinhua News Agency said in a commentary on Saturday.
Speculative bets against the yuan “is one of the few ways for foreign investors to express their bearishness about China economy,” said Tommy Ong, managing director of treasury & markets at DBS Bank Ltd. in Hong Kong. “The offshore market is a little bit more pessimistic about possible intervention than onshore.”
Names and addresses of short sellers are needed, for the benefit of the people of China. Rumor has it that snitches will be rewarded with a 1 yr supply of lizard tongues and dog jowls–supreme delicacies in the ancient republic of China.
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FUCK the PBoC!
Come get us in the US bitch.
The Harper government signed a note with dreaded commie agents led by McGarrett arch-nemesis Wo Fat: to wit, they are investigating former mainland residents who have exceeded the $50000 outflow limit to buy real estate in Vancouver, The west side neighbourhoods are blowing off at about $4 million for a 50 by 130 lot. At least two Canadian banks facilitate this – they do not ask for income as long as long as the buyer puts down at least 50%.
Lots of ex Chinese military in the hood – read ASSHOLES, but at least our pets have not yet been devoured. On the other hand, Leisure Suit Larry, our iguana, has not been seen for three days. He comes when he’s called, so if you see an iguana in powder blue with white shoes and a matching belt, please tell him Braveflaps misses baby.
Preferably not fricasseed.
Much obliged.
oh lord it’s AAPL teevee day. save me.