nun

The Year of the Ox Arrives in China, Land of 'Currency Manipulation'

>I stopped at a bank ATM and withdrew over $10,000.
> ... [text deleted]
>In both of our cases, my friend and I had no idea that
>there was a daily withdrawal limit until we tried to do so.
>I also have no idea if this is occurring at other banks or credit unions.

What on Earth is this guy talking about? ATMs in the US have had daily withdrawal limits for as long as I can remember. For many, the limit is around $500 or $1000.

I'd like to know which bank let the author withdraw $10,000 from an ATM. This story makes no sense, and I'm very dubious it occurred.

Geithner on Yuan: Misstep or Warning Shot?

Argentina used to peg to the dollar and intentionally made it artificially high, so much that it was cheaper for people to buy imported products from Europe than domestic ones. Of course it eventually collapsed.

The current situation with China is just the converse. The imbalance needs to resolve itself slowly in free exchange rate. Otherwise China's reverse currency bubble will eventually explode all at once.