Category: Letters to the Editor
From Japan to South Korea and India, Asia’s policy makers are stepping up the defense of their currencies as the dollar’s rally shows few signs of easing. Bank Indonesia has also deployed its own version of Operation Twist — selling short-term notes and buying up longer ones — in an effort to shore up the rupiah.
“It seems like many Asian central banks have become more aggressive in trying to reduce downside pressure on their currencies,” said Mitul Kotecha, head of emerging-market strategy at Toronto Dominion Bank in Singapore. “However, it’s a hard battle given ongoing USD strength.”
Bank Indonesia had spent $4.21 billion of its foreign-exchange reserves in July as it sought to limit the rupiah’s losses amid the nation’s widening rate gap with the US.
Report: Chinese President Xi Jinping Under Arrest, As 80 KM Long Line of Military Vehicles Heads to Beijing – Santa Monica Observer (smobserved.com)
Here is a tweet from an ordinarily reliable reporter, Jennifer Zeng 曾錚@jenniferatntd: “#PLA military vehicles heading to #Beijing on Sep 22. Starting from Huanlai County near Beijing & ending in Zhangjiakou City, Hebei Province, entire procession as long as 80 KM. Meanwhile, rumor has it that #XiJinping was under arrest after #CCP seniors removed him as head of PLA.”
Jennifer Zheng now says her family knows a PLA admiral, who confirms that Xi has been removed as head of the Central Military Commission. However, the admiral apparently denies that Xi has been removed as President or Chairman of the CCP, so far.