As reported last night, now that the PBOC has devalued the Yuan to a level China's central bank is comfortable with, if only for the time being,and having done so by unleashing a "murderous" short squeeze "to deter bearish bets and helping to stabilize equity markets", manifesting itself in the offshore Yuan 1 week deposit rate exploding to a record 82%...
The decision to put U.S. military forces on “high alert” in South Korea shows that they are gearing up towards war with Russia and China, according to political activist Mike Billington. Billington says that the world is on the brink of an economic crisis that only China can survive. A fact deemed intolerable by the United States.
While Chinese residents were lining up in front of banks and currency exchange kiosks, desperate to convert as many of their Yuan into dollars as the government will permit, Americans were likewise busy exchanging their own paper currency, so greatly in demand in China, into gold and silver.
The US has reportedly put its troops in South Korea on the highest alert ever to deter “any provocation coming from North Korea,” following Pyongyang’s latest underground nuclear test. The order was announced by Curtis Scaparrotti, the head of US military deployment in South Korea, who was visiting the Osan airbase, which is jointly run by Washington and Seoul. The US has more than 28,000 troops deployed in South Korea which has remained technically at war with its northern neighbor since the 1950-1953 Korean War ended in an armistice, not a peace treaty.
Earlier today, when Bank of America said that "panic is building" in the market and asked, rhetorically, "how bad could it get", it listed what it thought are the five core pillars in the bailed out bank's wall of worry: