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China mouthpiece warns Soros against shorting renminbi


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George Soros, the man who broke the Bank of England and, according to some, helped precipitate the Asian financial crisis has been warned off going to “war on the renminbi” by Beijing.

The warning, on the front page of China’s Communist Party mouthpiece, comes as Beijing is struggling to stem capital flight and support its currency, in part through massive intervention that has scythed its foreign reserves by about $700bn over the past 18 months to $3.3tn.
 

Mr Soros has been blamed for speculative attacks against Asian currencies during the 1997 Asian financial crisis and the British pound in 1992. He announced his retirement from financial investment at Davos last year but still serves as chairman of Soros Fund Management.

In an English-language editorial on Saturday, the official Xinhua news agency criticised “those who want to bet on the ‘ultimate failure’ of the Chinese economy”. The article further warned that “reckless speculations and vicious shorting will face higher trading costs and possibly severe legal consequences”.

 

http://www.ft.com/intl/cms/s/0/ebabbebe-c40d-11e5-993a-d18bf6826744.html#axzz3yNQ0frko

giving up sodomy and moving to 🇦🇪 converting to ☪ and marrying four girls
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politicqxs
21 hours ago, brizoda said:

Soros is despicable

he's like Obama and Hillary clinton's biggest supporter.

giving up sodomy and moving to 🇦🇪 converting to ☪ and marrying four girls
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brizoda
2 minutes ago, Licq said:

he's like Obama and Hillary clinton's biggest supporter.

Hillary is despicable also

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