Wednesday, August 17, 2011

Why is the U.S. Treasury Secretary urging the International Monetary Fund to monitor countries' currency?

US is frustrated that no matter how much the Fed is engineering the debasement of US dollars, Chinese Yuan is pegged to US dollars. Thus Yuan stays at the same level proportional to US dollars. Since US can't manipulate the dollars successfully againt the yuen, US resorts in calling Chinese the currency manipulator.

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