gold, page-42760

"This is not a joke."

I think it is.

If the Yuan-USD does "de-peg" and the USD does fall in value, who is that going to hurt? Not the US. They will be paying principal and interest in the devaluing USD. On the other hand the Yuan value of the US treasuries owned by China will fall. It is likely to fall very sharply (if you think that the USD is going to fall off a cliff).

Under that scenario, the joke is on China.