Snow wants wider yuan band

[UpInArms]

http://money.cnn.com/2003/07/29/news/international/snow_yuan.reut/

excerpt:

However, Snow said the U.S. government could not force such a move from the Chinese. "These are sovereign decisions. We can't dictate...We can, however, employ quiet diplomacy and point out why we think these movements make sense," he said.

...more...

very short newsblurb

[htuttle]

1. Doesn't Snow have enough work to do messing up OUR economy?

I don't think he has time to help the Chinese destroy theirs as well.

[DrPepper]

2. Watch Silver

There's a rumor on the net that the Chinese are the ones the west uses to help keep the price of silver very (artificially?) low by selling it. The USA does not have any more silver left since it sold off its billions of ounces after WW2. It now has to buy silver to mint eagle coins.

Last week, when the US brought up a floating yuan, the price of silver skyrocketed. Rumor has it that this was a reaction by the Chinese. Threaten our cheap currency and we won't help you surpress the price of silver. Watch it to see if this "quiet diplomacy" is for real or the Bush administration is just bluffing.

Once more thing, since when is diplomacy "quiet" if you announce it to the world?