Peter Schiff on the Yuan : CNBC Fast Money Spotlight 21 june 2010

If China let its currency float, it would be good for China and bad for the US, according to Peter Schiff, of Euro Pacific Capital. He explains his theory to CNBC.

Chossudovsky: "Major currencies can simply collapse"

RTAmerica — June 18, 2010 — Obama is urging China to review its currency policy despite Chinese officials made it clear that they are not going to tolerate any interference from abroad to this issue. Is this going to become a major topic of the G-20 meeting in Canada and what's the mood their on the eve of the summit? Michel Chossudovsky says that the financial crisis is not over as President Barack Obama has hinted at.

In Advance Of G-20 Meeting, China Announces Dollar Peg To End - ZeroHedge.com

http://www.zerohedge.com/article/advance-g-20-meeting-china-announces-dollar-peg-end

In a statement posted on the PBOC's website late last night, the Chinese central bank has announced it will seek a flexible yuan, ending a two-year peg to the dollar. The news comes a week before the G-20 meeting at which the CNY exchange rate was set to be a key issue of debate. On the other hand, as the PBoC noted, With the BOP account moving closer to equilibrium, the basis for large-scale appreciation of the RMB exchange rate does not exist." As such, a large initial move is unlikely to occur, and the bulk of the volatility will likely strike at traded CNY forwards.

Full statement:
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