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The Chinese are devaluing their currency to combat the tariffs that Trump placed on them. Trump calls out the Fed and says we need to do more, we need more rate cuts. Trump is now pushing the [CB] economy to the extreme, the question is why, a crisis will allow Trump to usher in a new economy. While all this is happening gold is skyrocketing, its almost as if this was planned. AOC is now being investigating and their are more than one complaint filed against her. Omar, is being investigated. [JC] is part of a grand conspiracy, the slam-dunk is coming soon, the DOJ is just getting warmed up. Judicial Watch is now suing California, the new law requiring Trump to produce his tax returns is unconstitutional. Trump gives his condolences to the people of Ohio and Texas and says they are starting an investigation into the entire event, this will be a quick and swift investigation and those responsible will get the death penalty. Trump sends a forever message, message received.

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Current News – 08.05.2019

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Economy

Trump Slams China’s “Currency Manipulation” After PBOC Denies Competitive Devaluation 

Recently, some new situations have emerged in the international economic situation and trade frictions, and market expectations have also undergone some changes. Affected by this, many currencies have depreciated against the US dollar since August, and the RMB exchange rate has also been affected to some extent. This fluctuation is driven and determined by the market.

As a responsible big country, China will abide by the spirit of the G20 leaders’ summit on the exchange rate issue, adhere to the market-determined exchange rate system, not engage in competitive devaluation, and not use the exchange rate for competitive purposes. Use the exchange rate as a tool to deal with external disturbances such as trade disputes. All along, the People’s Bank of China is committed to maintaining a stable and balanced RMB exchange rate at a reasonable and balanced level. This effort is believed to be obvious to all.

At present, China’s economy is stable and progressing, and its economic growth ranks among the top in the major economies, showing great resilience, potential and room for maneuver. The balance of international payments is balanced, foreign exchange reserves are sufficient, and there are more and more hedge enterprises in the foreign exchange market. The spread between China and major developed economies is in a suitable range and can support the basic stability of the RMB exchange rate.

The People’s Bank of China and the State Administration of Foreign Exchange will maintain the stability and continuity of

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