The Yuan, CNY/USD controls all.... US media will never admit it tho... it is the one instrument that controls all our destinies.
imo the devaluation is inevitable, but what's going to happen after the devaluation is really interesting, especially the reaction of western world.
well, for starters it's USD/CNY and for most us whose destinies are being controlled it's USD.CNH. It's the one (or two if you count the domestic) currencies that needs to go both up and down at the same time. It's really quite a predicament they have gotten themselves into. Good luck to them and their business, especially as to how it doesn't affect mine.
Kyle Bass Yuan commentary: http://www.valuewalk.com/2016/02/kyle-bass-china/?all=1 (thanks for the link Daal) ZeroHedge article about the same letter http://www.zerohedge.com/news/2016-...ws-collapse-chinas-34-trillion-banking-sector with a link to Scribd which probably provides the same presentation https:// www dot scribd.com/doc/298922249/Hayman-Market-Commentary-on-China-February-2016 .
CNBC article about the same letter http://www.cnbc.com/2016/02/10/kyle...s-banks-subprime-losses-in-credit-crisis.html .