Look not to understand the world now is dallying with money, that will lead to policy blunder. Days of oil prices, curbing the American CPI; Again out of Europe "Italian debt problem", the suppression of the euro against the us dollar; Meanwhile, Japan began to seek for the G7 economies joint intervention the yen, and the bank of Japan has shot intervention, restrain the Japanese yen appreciation; The world's most important Swiss hedge currencies, simply direct intervention to cut NFL Jerseys interest rates by the exchange rate. All the signs are that, the third round of quantitative loose (QE3) monetary policy will soon come. Because, in order to pay for August 15, the debt maturity, the us Treasury next week will have to sell the latest new national debt. According to the Associated Press news, the new debt auction totaling $72 billion, is divided into three years, 10 years and 30 10-year three, about a third of used to repay debts that are due. In the United States government bonds issued by the Associated Press news at the same time, the fed's two former directors; McGrady root and Cohen began to blow out said: as long as inflation rate from higher level of recently dropped, and economic performance continue to below the normal level, the fed should be considered the third round launched "quantitative easing" policy. But they also warns: the third round "quantitative easing", not "a panacea". Federal reserve chairman Ben bernanke was in congressional testimony last month to said: if the us economy weak performance continue, so he is prepared to take action. But he also hinted that says, the fed must see deflation risk will purchase more bonds. Although there are signs that consumer prices are down, but many still higher than the fed inflation index's informal goal of 2%. The government certainly want to focus on the price level, but the United States as long as the oil price pressure down, can inflation is expected to decline by QE3 implementation. The most important is, new American Treasury bonds sold to who? If subscribe shortage, who TuoDe? In fact, we have to see, including China, all U.S. debt holders, almost all realized "diversified investment" necessity. This is actually said: for Treasury bonds, we can not buy will not buy. Of course, I firmly believe that not to buy them. Why not buy? We comments in recent days have made that clear. When the world currency devaluation to it, China's yuan? Like this endless appreciation down? Let alone we can get much economic interests, the key is we don't worry about the yuan is dangerously overvalued? Currency is overvalued currency serious consequences we don't know? This year "21 century economic report says: implementation of cross-border settlement RMB one trillion yuan RMB, have a backflow arbitrage impulse NBA Jerseys. Excuse me, the RMB circumfluence home is how the consequences? Of course is inflation. But I think, whether can use renminbi backflow opportunity, the suppression of the speed of the appreciation of the renminbi? In fact, from the general trade deficit growing, we can see the actual have overvalued RMB. What do you mean? China's foreign trade is divided into two parts: one is processing trade, second is the general trade. "Processing trade" refers to the raw materials need to be imported, production and processing of finished goods again after export, the so-called "two head out" of trade. This trade China earn just processing charges, but is this the processing, makes the processing trade must be surplus. Do an acme sex hypothesis. If China's trade by all the processing trade form, the China trade to can not find the import and export of "balance", is that the yuan to appreciate the forever? The problem is, no matter how appreciation, is impossible to realize the trade balance. So we said, processing trade simply should not be commerce, but it is under the background of global economic integration, the global industrial division pattern of "a special kind of production mode" just. But the real currency to another decision, it shall see general trade. But this year China six months before the general trade deficit has reached 57.983 billion us dollars. This shows that the Chinese yuan yuan has overstated, but there was no serious just. But, if this situation continues, serious overestimate is not far away. Wall Street is not have started to sing empty RMB? We should guard. When the countries all over the world, especially in the developed countries down the value of their mass, the yuan is overvalued mean??????? Consequences to clear.