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moorookamick

23,957 Posts.

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29/06/20

09:12

Post #: 45505109
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Originally posted by moorookamick: ↑

You miss the point of my post as usual.
My point was the actual depreciation of the Yuan vs the AUD since the GFC in 2008.

This variation downwards is miniscule as opposed to the market devaluation of our "Peso"

By the way, BHP, RIO & FMG have been capitalising on the current exchange rate between the AUD & the Yuan and Vale & South Africa's reduction of supply.
It is one thing to hate the CCP but please dont try to vale this with fake facts.

There is a reasonable argument, however, that China may have purposely held down the value of the Yuan vs the USD from 2018-2013 when the USD was trashed by the global currency market due to the failure of US banks/corporations due to slack US financial supervision and dodgy CDOs.Some of our Munis were caught with these rubbery CDOs

It is interesting that those duped by a combination of poor US management of its financial markets did no sue the USA for losses .
Not alone were the mortgage companies & banks involved. the 3 major ratings agencies aided and abetted these apparent frauds.

I'll post Alan Kohler's article later, FYI, on the billions Aussie Munis lost.

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https://www.smartcompany.com.au/finance/the-cdo-timebomb-how-it-works-and-why-it-could-sink-or-save-the-world-economy-kohler/

NB: Reference to Aus Munis crueled by fraudulent US CDOs in the body of the article.
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