Bitcoin smashes Chinese Yuan,, suffers dramatic Plunge

[Bitcoinpro]

wow wat a suprise even an unmovable currency .......... moved

http://www.bloomberg.com/news/articles/2015-08-11/china-weakens-yuan-reference-rate-by-record-1-9-amid-slowdown

worlds biggest Paper Tiger got Railroaded

[fenican]

The Yuan is hardly immovable - it has been weakening against the dollar for years. Not sure an extra 2% will make much of a difference.

[Lauda]

The article is a bit long though. In situations like these Bitcoin does seem like the ultimate safe heaven, does it not? However, OP has posted a misleading title. There is no Bitcoin reference within that very article.

The Yuan is hardly immovable - it has been weakening against the dollar for years. Not sure an extra 2% will make much of a difference.

Obviously it is a significant decline compared to the ones in the past.

[Bitcoinpro]

The Yuan is hardly immovable - it has been weakening against the dollar for years. Not sure an extra 2% will make much of a difference.

ur not sure about anything cuz

[Bitcoinpro]

The article is a bit long though. In situations like these Bitcoin does seem like the ultimate safe he :Da ;Dven, does it not? However, OP has posted a misleading title. There is no Bitcoin reference within that very article.

The Yuan is hardly immovable - it has been weakening against the dollar for years. Not sure an extra 2% will make much of a difference.

Obviously it is a significant decline compared to the ones in the past.

it was team Fiat at Paper Tiger HQ trying write up a quick reply and they failed miserably   

[alva5763]

Interesting to see how price of gold reacts as Chinese are large hoarders of gold.

[pitham1]

The Yuan dipped because the Chinese government wanted it to. No other reason. 

[RodeoX]

I think the Chinese stock market is not getting enough attention. The government is now trying to control the market with capitol injections. How wrong is this going to go? A totalitarian communist regime is going to make decisions about quantitative easing?

I have divested about 20% of Chinese holdings and I fear it will bring down a lot of other Asian countries as it sinks. Ugly times ahead.