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Thread: How far will RMB go?
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[quote=GUEST85224,270728]I think the importance of China's foreign currency reserves are overstated. To just clean up the tangled mess of one of China's largest banks could absorb 20% or more of the governments total reserves. The issue of exchange rates is important and the volatility of this market most not be overlooked. January 2009 hopefully America will become a functioning democracy again with a rational head of state. Another Paul Ruben like Secretary of the Treasury combined with a bursting or at least a rupturing of China's housing market and we could see 7.75RMB to $1 very quickly.[/quote]
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