Beijing is caught in 'trap' over dollar
Written by The Resista Monday, 25 May 2009 22:38
Looks like somebody besides us over played their hand. The irony is lost here for some reason. It’s worth contemplating their mind set here since out lesser nature would tell us that their genius are much smarter than our geniuses. Apparently the opposite is actually more correct and in fact their geniuses are just as stupid as our geniuses are.
"Because of the sheer size of its reserves Safe [China's State Administration of Foreign Exchange] will immediately disrupt any other market it tries to shift into in a big way and could also collapse the value of its existing reserves if it sold too many dollars," said a western official, who spoke on condition of anonymity.
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