China has announced 8 trillion yuan ($1.265 Trillion) in stimulus as it desperately attempts to keep it’s economy from rolling over.
QE will continue To INFINITY….AND BEYOND!!!
This now gives Bernanke the political green light to proceed with a $1 Trillion + QE3. Gold and silver smell currency debasement, and are responding accordingly. The metal’s corrections are history.
China announces £800bn stimulus to boost confidence
China has announced a total of 8 trillion yuan (£800bn) of “stimulus projects” to try to boost confidence in an economy that appears to be cooling faster than expected.
Analysts said the government could now steer the value of the yuan lower, after a gain of 4.7pc last year against the dollar. Further export tax rebates could also be used to bail out manufacturers.
China’s export sector is suffering from anaemic demand from Europe and the United States. In the first seven months, exports rose 7.8pc, while imports rose 6.4pc, leaving China in danger of missing its 10pc target for trade growth this year. July’s exports grew at the lowest pace since 2009 and there are reports of factory workers leaving and returning to their home provinces for the first time since the financial crisis.