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Author Topic: [2017-02-08] Chinese Citizens Troll PBOC and Prop Up Bitcoin  (Read 142 times)
Slow death
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February 08, 2017, 04:07:03 PM

Chinese Citizens Troll PBOC and Prop Up Bitcoin

The China Money Network released a “special commentary” which says Yuan fell “slightly lower than the end of December last year, but the rate of change is not large,” according to a google translation.

Zooming out of Yuan’s charts, the currency has fallen to its lowest level in seven years. Moreover, China’s reserves have fallen below the significant psychological threshold of $3 trillion, its lowest in five years, raising questions on whether the People’s Bank of China (PBOC), China’s central bank, can continue maintaining Yuan’s value – which fell yesterday.

Nonetheless, PBOC’s Weibo account, China’s Twitter, linked to the commentary highlighting: the “index of the RMB exchange rate depreciated slightly.”

“It can’t be mentioned” – one Chinese citizen replies sarcastically referring to news earlier in the year that China had ordered Chinese bitcoin exchanges to “not mention devaluation.”

“Unscrupulous Bitcoin only up not down. Pity my hard-earned money, hit my central bank face.” – replied another.

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February 08, 2017, 04:14:15 PM

So now it is pitting the Chinese against the Chinese to get the price to increase?
Isn't that like a sort of black on black crime to drive down the black population in an attempt by the by white national trump supporters in America? Undecided

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