The disconnect behind labeling China a currency manipulator

August 6, 2019

Trump is back to attacking China as a currency manipulator so Chris Temple and I breakdown the issues we have with this argument. Whether Trump know what he is doing or not if China goes off the cliff it’s going to bring down a lot of other countries as well.

As for the quality, our connection was very inconsistent. I am on the road all this week and the internet at my current location is not the best. Hopefully you can still all understand what Chris was saying.

Click here to visit Chris’s website and learn more about his newsletter.

    Aug 06, 2019 06:26 AM

    Even Switzerland is subtly moving to eliminate cash.
    UBS to charge rich for cash deposits
    e.g. NEW fees would result in savings accounts of £1.7m would attract fee of £10,700 for clients in Switzerland, per year.
    The actual fee schedule has not been precisely defined yet in early notice mailings.
    £1 = $ 1.22

      Aug 06, 2019 06:44 AM

      UBS……just charging a fee to laundry the cash…..

      Aug 06, 2019 06:09 AM

      Chinese Gold price is looking Good !

      Aug 06, 2019 06:14 AM


      When you say that Switzerland is subtly moving to eliminate cash you are not referring to physical cash but cash in the bank that is held electronically, correct? At least that is what I read from numerous sources. It has nothing to do with actual physical cash.

    Aug 06, 2019 06:35 AM

    I s not China actually the country that actually has created the most debt?
    (For financing their “road” project……and thus does that not imply China believes there will be a currency default sometime in the future?

    A Debt Jubilee, as some like to call it.

      Aug 06, 2019 06:57 AM

      Yes – since 2008-2009, no country has created more debt than them; certainly not in relation to the size of the economy. As for their Belt and Road, a couple countries have already called them on their scam–Malaysia, most notably.

      China may well implode economically for a while, just like the last supposed “yellow peril” Japan starting 30 years ago (interestingly, in part, because they got talked into letting their yen soar to appease the U.S. as part of the Plaza Accord in 1985) If China implodes, though, the consequences will be dire.

        Aug 06, 2019 06:30 AM

        The consequences of China imploding might well be dire. The question is, what would have happened if the old status quo of letting China do what it wants and growing stronger and ever more invincible, calling more and more of the shots. Does anyone want China to replace the US as THE super power? This is not to say, the US has been a benign force in the world over the last 25 years. But this isn’t the point here.
        China is one of the countries that crushes political and ideological dissent of its people in the most determined and ruthless ways. If China falls and its ascent to unchallenged super power is delayed, maybe, just maybe it’s worth the price of “dire” consequences. It’s difficult to say, because the question can only be answered, if at all, with hindsight.

          Aug 06, 2019 06:58 AM

          The world reserve currency is going to change.
          The U.S. will lose influence.
          Right now, Russia, China and others are talking about implementing a new system where no 1 nation has the power the americans had.

          All empires might be inherently evil but the U.S. has been no dif, they have been raping and murdering since the 2nd war.

          I see no reason not to give other nations more power.

          I understand we have been told for decades that we are the “indispensable” nation, I just dont believe thats true.

            Aug 06, 2019 06:07 AM

            The US, is the lesser of the evils. Look what the USSR did the eastern Europe versus what the US did to western Europe.

            From OUR perspective, it is better for the US to be in charge, rather than China. There can be little doubt the USD was going to lose its reserve currency status, irregardless of what’s happening now. Maybe it will happen faster now, but we can be assured Russia and China had no intention of remaining in the US’ shadow.

            Aug 06, 2019 06:42 AM

            I think ur talking about what Stalin did, those days are over, and comparing the dif?

            Churchill made the decision to murder 4 million people and he is a hero, fdr raped britain took the reserve currency and raped the world, that has never stopped.

            They now have us on the edge of species extinction, thats not a good thing.

            The western leaders are insane, the Russians and Chinese at least are not.

            But, all we get to do is watch whatever happens, our only option is maybe buy a farm, gold and take advantage as best we can.

            As Tulsi says, there is no place to hide.

            But watching the gold action is definitely entertaining. 😉

            Aug 06, 2019 06:25 PM

            The grip of the USSR didn’t end until 1990, when the walls in Europe came down. I was in eastern Europe a number of times before then, long, long, after Stalin was gone. So, no, Stalin was by no means the cause of the misery and oppression in eastern Europe, without whom everything would have been ok.

            Aug 06, 2019 06:05 PM

            Stalin was gone, but wasnt it him that set up their system?

            Takes awhile to turn battleships around.

            Putin has overcome alot to get them to where they are now, and yes, there is a long way to go yet. And no, he is no angel.

            Aug 06, 2019 06:56 PM

            Look at the Soviet Union before Stalin. Look at China under Mao. Look at Cuba under Castro. What do all the countries under these leaders have in common?

            Freedom of thought, speech, travel, the rule of law? Or tyranny?

            Let’s not try to whitewash communism. It is straight from hell.

            Aug 06, 2019 06:23 PM

            Are you saying the Soviet Union was worse before Stalin?

            Aug 06, 2019 06:25 PM

            Im not gonna defend communism, but recall what was happening before Castro.
            Putin is a capitalist, as much as any billionaire american anyway.
            Mao is long dead and China has alot of entrepreneurs and wealthy people today.

            476 billionaires at last count, thats pretty capitalist, only the U.S. had more at 585.

            China and Russia are on the rise, the states is on the verge of collapse, as for socialism,communism what were those bank bailouts?
            Maybe the $1000 a month guaranteed income for all will happen? 😉

            The american gov is corrupt from top to bottom and serves a foreign nation, heck there are even oaths to a foreign nation.

            There is no doubt who Xi and Putin serve.

            From 1945 Until Today – 20 to 30 Million People Killed by the USA …

            Thats not exactly good guys. They shouldnt be casting stones imo.

            I was going to vote for Putin in the next election, Ive changed my mind, Im voting Tulsi.

            Aug 06, 2019 06:25 PM

            Of course you are correct that communism is straight from hell.

    Aug 06, 2019 06:46 AM

    “Full Economic Embargo” instituted on Venezuela.

    How is that legal without going through UN ?

    Aug 06, 2019 06:06 AM

    For educational purposes:

    Part 1 of a German documentary on the Silk Road. (In English)

    Aug 06, 2019 06:07 AM

    Part !! of Silk Road Documentary:

    Aug 06, 2019 06:11 AM

    Its not legal, its an act of war.
    Nothing new for the U.S.

    The leaders of the U.S. are insane, no matter who they are, the mic, Israel whoever it is they are insane.

    The U.S. is now putting ground based nuclear capable missile launchers on the Russian boarders, they intend to do the same on Chinese boarders.

    Ya really think the Chinese see their currency as the main issue?

      Aug 06, 2019 06:01 PM

      b, could you perhaps explain your patently moronic comment regarding Churchill murdering 4 million people.
      I believe a discussion on this subject could educate one of us.
      (My apologies if you are offended by my comment; it was not addressed at you in general.)
      Then once we clear the Churchill comment, perhaps we can discuss your opinion of FDR raping Britain.

        Aug 06, 2019 06:15 PM

        Not offended cfs.

        The statement is one of fact, not moronic.
        I understand people think Churchill is some kind of hero, thats what they have been told since Neville Chamberlain.

        Thing is, most of what we are taught about that war (and others) is lies.
        The first casualty is truth.

        Churchill made the decision to have Indians starve.

        This article says 3 million, but I believe it was 4 million his decision starved to death.
        This was just the first article that came up with google.

        Now, FDR is a good story, which actually includes the “moron” Churchill putting an end to the british empire.
        They have never recovered.

        FDR took full advantage of Churchills position during the 2nd war, huge profits, all British gold moved to the states for example, ports and the big one, the world reserve currency status.
        FDR took every single scrap of wealth he could from Britain.

        In this light, ya, the americans actually did win the 2nd war.

        For myself, prior to finding that out I always said the americans did not win the war, just on the winning side, I felt they were arrogant for saying such a thing as they won the war.

        Turns out, they actually did win the war.
        Thanks to FDR, I never seem to stop learning.

          Aug 06, 2019 06:51 PM

          As you probably remember we’ve partly had this argument before.
          Soutik Biswas is an Indian correspondent for the BBC, hardly an expert in history.
          No mention is made of lack of monsoon affecting crop production.
          No mention is made of Japanese taking of Burma, which decreased source for normal supply for rice into India.
          No mention of pre-sales of rice crops.
          I will admit Churchill was pre-occupied with the WWII and did not shift supplies of rice from other regions of the British Empire; although I don’t know if he had that capability with Japanese sinking a lot of British ship in the East and Germans sinking a lot of transport shipping in the Atlantic. You’ve got to remember for the Brits WWII started in 1939.
          India suffered because of a convergence of factors and Britain was unable (not unwilling…just unable) to dig them out of their problem this time.

          As regards FDR, his hands were pretty much tied by the American public opinion and Congress, not wanting to get involved in WWII.
          Britain had no choice but to buy armaments from America or lose the war. As it was, by the time America entered the War Britain had almost lost. Had there not been 20 odd miles of English Channel, Britain would have lost it.
          I suspect if WWII had not broken out, then the British Empire would have slowly come to an end anyway. Might have taken a few decades longer, but Britain did not have the population (smaller than France, smaller than Germany) to sustain such an extensive Empire.

            Aug 06, 2019 06:56 PM

            Soutik Biswas hardly an expert in history. Could be,This was just the first article that came up with google.

            Churchill’s Secret War, journalist Madhusree Mukherjee blames Mr Churchill’s policies for being largely responsible for one of the worst famines in India’s history.

            “Mr Churchill turned down fervent pleas to export food to India citing a shortage of ships – this when shiploads of Australian wheat, for example, would pass by India”

            We will have to agree to disagree as to what saved Britain, I dont see the channel as an obstacle.
            I dont think Hitler wanted to invade Britain.

            The guy took holidays in Paris after Dunkirk. odd for a guy with invasion on his mind.;-)

    Aug 06, 2019 06:32 AM

    Chris needs to get a better internet connection. Cutting out too much.

      Aug 06, 2019 06:00 AM

      Sorry about that Ebolan, it is an issue on my end as I mentioned above. Seems to be dropping in and out all day for me so far.

    Aug 06, 2019 06:52 PM

    Peter Strzok Sues DOJ, FBI Over Firing For Anti-Trump Texts

    Anti-Trump former FBI agent Peter Strzok is suing the Justice Department, FBI, Attorney General William Barr and FBI Director Christopher Wray after he was fired over a trove of text messages between he and his paramour, former FBI lawyer Lisa Page.

      Aug 06, 2019 06:30 PM

      Dtrzok will be lucky if he does spend time in jail.
      Seditious writings:
      To write, print, utter or publish, or cause it to be done, or assist in it, any false, scandalous, and malicious writing against the government of the United States, or either House of Congress, or the President, with intent to defame, or bring either into contempt or disrepute, or to excite against either the hatred of the people of the United States.
      Obstruction of Justice:
      Through the IG’s reports we know that Peter Strzok did all he could to prevent any charges of Hillary Clinton during her email investigation that ended in 2016 as he was the lead investigator. He was fine with her server being scrubbed, her phones being beat to bits by hammers and her arguments on the emails in her position that were classified and illegally held outside of government protection.
      Strzok changed or caused to be changed the description of Clinton’s handling of classified information from “grossly negligent” to “extremely careless;”
      Mis-handling/Aggressive/biased prosecution:
      Strzok was one of two FBI agents to interview General Mike Flynn who was reportedly set up. There is now evidence that Flynn did not lie to the FBI even though this was communicated to President Trump who fired Flynn and to corrupt Mueller who indicted him for lying to the FBI.
      Basically Strzok and his paramour Page were attempting to overthrow our government through letting Hillary off with no charges for mishandling classified information and then damaging President Trump through numerous activities to prevent him from being President and then from performing his duties as President…….Pretty darned close to treason.

    Aug 06, 2019 06:03 PM

    OPUS 169 Economic War China Style

    Xi needs to watch himself, things could go in the wrong direction for Communist Party China.

    Aug 06, 2019 06:44 PM

    I not sure Mr. Pieczenik is correct.
    Xi is effectively “emperor for life”
    He has shown himself to be quite intelligent and ruthless in maintaining power.
    The fact that the “road” project is opening up much of Asia all the way to Europe and that Russia is allied to china probably gives China more capability and influence in the world than the U.S. China has been building infrestructure in Africa, in order to exploit resources.
    China owns 7 of the 10 biggest ports in the world.

    On the other hand the U.S. is politically divided and operation foreign policy with difficulty. Already over-stretched and under-funded for its desires. China has not over-stayed in foreign area yet and is not totally disliked.
    About the opposite is true for the U.S..

      Aug 06, 2019 06:33 PM

      Waiting with baited breath for news on LODE

    Aug 06, 2019 06:10 PM

    Yeah, short gold & buy the dip…