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Stefan Gleason: Yes, China is a currency manipulator, and the U.S. banking system is a monetary metals manipulator
By Stefan Gleason
Money Metals Exchange, Eagle, Idaho
Tuesday, January 14, 2020
The U.S. Treasury Department announced Monday that China is no longer on a list of countries deemed to be "currency manipulators." The timing was awfully convenient, coming just ahead of an expected Phase One trade deal between the two powers.
Nobody actually believes China has stopped manipulating the value of its yuan versus the U.S. dollar.
... Dispatch continues below ...
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But the Trump administration is apparently willing to accept a certain degree of currency rigging in exchange for other concessions on trade.
It's not as if the U.S. government has a stellar record when it comes to heeding principles of free and fair currency markets. Through the Exchange Stabilization Fund and other vehicles it is constantly trying to manage the value of the dollar versus the currencies of trading partners too.
It's not as if equity markets, interest rate markets, and precious metals futures markets are free from manipulation, either. Price rigging schemes of various sorts -- ranging from small-scale "spoofing" to large-scale suppression -- occur practically around the clock. ...
... For the remainder of the commentary:
https://www.moneymetals.com/news/2020/01/14/china-manipulating-yuan-curr...
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