Posts Tagged ‘matt-schneider’

Geert Wilders! What an asshole. He used Rating Handicap to Crush Holland. Caretaker Prime Minister Mark Rutte & his liberal People’s Party for Freedom & Democracy, coalition party, Christian Democratic Appeal, received enough support from 3 opposition parties to bring country’s budget deficit down from 4.5 % of GDP to 3% to Save Holland from Israel.

April 30, 2012

Geert Wilders! What an asshole. He used Rating Handicap to Crush Holland. Caretaker Prime Minister Mark Rutte & his liberal People’s Party for Freedom & Democracy, coalition party, Christian Democratic Appeal, received enough support from 3 opposition parties to bring country’s budget deficit down from 4.5 % of GDP to 3% to Save Holland from Israel.

Here is Some Mindsteroid Must-Read:
Political parties in the Netherlands reached an agreement on budget cuts on Thursday, just a day after the government coalition collapsed over the issue.
Caretaker Prime Minister Mark Rutte and his liberal the People’s Party for Freedom and Democracy, and coalition party, Christian Democratic Appeal, received enough support from three opposition parties to form a narrow majority giving them enough votes to push through the budget package.
The cuts agreed to on Thursday are expected to bring the country’s budget deficit down from 4.5 percent of GDP to 3 percent, the maximum legal limit according to European rules.
Netherlands Government Latest Victim of European Debt Crisis
The agreement was reached in just one day, after seven weeks of budget negotiations with former coalition partner Geert Wilders and his far-right Freedom Party. The government collapsed last Saturday after Wilders walked out of the negotiations.

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OBAMA WAS NOT THE ONE WHO CALLED THE SHOTS OF OSAMA, HE WAS THE FIRST HENHEAD TO IGNORE.

April 29, 2012

Bin Laden's Abbottobad Compound

Here is Some Mindsteroid Must-Read from Arutz Sheva
Approximately one year after the assassination of Osama bin Laden, a memo written by former CIA Director Leon Panetta has been obtained, revealing that President Obama was not, in fact, in charge of operation strategy in the hunt for the terrorist mastermind.
Panetta received a call from National Security Officer Tom Donilon confirming that President Obama had made the decision to “proceed with the assault” on bin Laden‘s compound in Pakistan after assessing a risk profile. However, the memo, released by Time Magazine, states that “the timing, operational decision making and control are in Admiral McRaven’s hands.”
“The direction is to go in and get bin Laden, and if he is not there, get out,” read the memo. It does not clarify whether the intention was to kill bin Laden or to capture him.
However, the memo also shows that President Obama was not in charge of operation strategy as the mission was being carried out. Rather, Panetta noted that, “the timing, operational decision making and control are in Admiral McRaven’s hands.”
“The approval is provided on the risk profile presented to the President. Any additional risks are to be brought back to the President for his consideration,” said the memo.
President Obama has said that the decision was one of the “gutsiest calls of any president in recent memory.” However, it seems that the “gutsy call,” was actually made by Admiral William McRaven, head of the Joint Special Operations Command.
Two days after the memo was written, bin Laden was assassinated by a team of Navy SEAL commandos.
Following the raid, Pakistan’s government claimed it had no knowledge of bin Laden’s presence in Abbottabad. However, speculations have questioned how the terrorist’s presence in the compound could have been undetected by Pakistani officials when Abbottabad is home to a major Pakistani military base and only about 30 miles from the capital city of Islamabad.

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Hoodlumism Execution in the Old Jim Crow South, Where Complexion Counted More Than Facts

April 24, 2012

Image

Hoodlumism Execution in the Old Jim Crow South, Where Complexion Counted More Than Facts
Here is Some Mindsteroid Must-Read: Who Is ‘Racist‘? by Thomas Sowell
Whatever the ultimate outcome of the case against George Zimmerman for his shooting of Trayvon Martin, what has happened already is enough to turn the stomach of anyone who believes in either truth or justice. An amazing proportion of the media has given us a painful demonstration of the thinking – and lack of thinking – that prevailed back in the days of the old Jim Crow South, where complexion counted more than facts in determining how people were treated. One of the first things presented in the media was a transcript of a conversation between George Zimmerman and a police dispatcher. The last line in most of the transcripts shown on TV was that of the police dispatcher telling Zimmerman not to continue following Trayvon Martin. That became the basis of many media criticisms of Zimmerman for continuing to follow him. Only later did I see a transcript of that conversation on the Sean Hannity program that included Zimmerman’s reply to the police dispatcher: “O.K.” That reply removed the only basis for assuming that Zimmerman did in fact continue to follow Trayvon Martin. At this point, neither I nor the people who assumed that he continued to follow the teenager have any basis in fact for believing that he did or didn’t. Why was that reply edited out by so many in the media? Because too many people in the media see their role as filtering and slanting the news to fit their own vision of the world. The issue is not one of being “fair” to “both sides” but, more fundamentally, of being honest with their audience. NBC News carried the editing even further, removing one of the police dispatcher’s questions, to which Zimmerman was responding, in order to feed the vision of Zimmerman as a racist. In the same vein were the repeated references to Zimmerman as a “white Hispanic.” Zimmerman is half-white. So is Barack Obama. But does anyone refer to Obama as a “white African”? All these verbal games grow out of the notion that complexion tells you who is to be blamed and who is not. It is a dangerous game because race is no game. If the tragic history of the old Jim Crow South in this country is not enough to show that, the history of racial and ethnic tragedies is written in blood in countries around the world. Millions have lost their lives because they looked different, talked differently or belonged to a different religion. In the midst of the Florida tragedy, there was a book published with the unwieldy title, No Matter What … They’ll Call This Book Racist. Obviously it was written well before the shooting in Florida, but its message – that there is rampant hypocrisy and irrationality in public discussions of race – could not have been better timed. Author Harry Stein, a self-described “reformed white liberal,” raised by parents who were even further left, exposes the illogic and outright fraudulence that lies behind so much of what is said about race in the media, in politics and in our educational institutions. He asks a very fundamental question: “Why, even after the Duke University rape fiasco, does the media continue to give credence to every charge of racism?” Harry Stein credits Shelby Steele‘s book White Guilt with opening his eyes to one of the sources of many counterproductive things said and done about race today – namely, guilt about what was done to blacks and other minorities in the past. Let us talk sense, like adults. Nothing that is done to George Zimmerman – justly or unjustly – will unlynch a single black man who was tortured and killed in the Jim Crow South for a crime he didn’t commit. Letting hoodlums get away with hoodlumism today does not undo a single injustice of the past. It is not even a favor to the hoodlums, for many of whom hoodlumism is just the first step on a path that leads to the penitentiary, and maybe to the execution chamber. Winston Churchill said, “If the past sits in judgment on the present, the future will be lost.” He wasn’t talking about racial issues, but what he said applies especially where race is involved. Thomas Sowell is a senior fellow at the Hoover Institution at Stanford University. His Web site is http://www.tsowell.com. To find out more about Thomas Sowell and read features by other Creators Syndicate columnists and cartoonists, visit the Creators Syndicate web page.

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Bail set to Stop Niggas Ramming Zimmerman Holy Rectum Civil War in Florida Jail. Ann coulter must be Masturbating by Now. Reading further is waste…

April 23, 2012

Neighborhood watchman George Zimmerman was released on $150,000 bail from a Florida jail late Sunday night, 12 days after he was arrested for killing 17-year-old Trayvon Martin.
Zimmerman, 28, was let out of the Seminole County Jail just before midnight.
Carrying a brown paper bag and wearing blue jeans and a brown windbreaker, Zimmerman refused to comment as he quickly got into a BMW SUV and was whisked away, flanked by at least three police cars.
It was not immediately clear where Zimmerman was taken.
“Zimmerman posted bond and was fitted with an electronic monitoring device prior to release,” the Seminole County Sheriff’s Office said in a statement.
Officials said Zimmerman’s GPS device will be monitored by the sheriff’s office and Seminole County Probation.
On Friday, Judge Kenneth Lester set bail and required Zimmerman to be fitted with an electronic monitoring device as part of his release.
Prosecutors had asked for $1 million.
Lester ordered Zimmerman to have no contact with Martin’s family and prohibited him from possessing firearms or drinking alcohol while awaiting trial on a charge of second-degree murder.
Zimmerman will also be on strict curfew and have to check in with authorities every three days.
During his bail hearing Zimmerman apologized to Trayvon’s parents, who were in the courtroom.
Zimmerman fatally shot Trayvon Feb. 26 during a confrontation in a Sanford gated community. He had reported the teen as looking suspicious to 911 just moments before the shooting.
Invoking Florida’s controversial “stand your ground” law, Zimmerman claims he shot Trayvon in self-defense.

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Hillary Clinton for vice president: The rumor that won’t die then goofy for state secretary

April 19, 2012

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Hillary Clinton for vice president: The rumor that won’t die then goofy for state secretary
Here is Some Mindsteroid Must-Read:
On Wednesday night, Secretary of State Hillary Clinton sat down with CNN’s Wolf Blitzer to talk about the various threats that face the United States across the globe .. and whether she is going to replace Vice President Joe Biden on the national ticket in 2012.
Here’s the exchange:
BLITZER: “If the president of the United States says, ‘Madame Secretary I need you on the ticket this year in order to beat Romney,’ are you ready to run as his vice presidential running mate?”
CLINTON: “That is not going to happen. That’s like saying if the Olympic Committee called you up and said, ‘Are you ready to run the marathon would you accept.’ Well, it is not going to happen.”
So, you’re telling me there’s a chance?!
There is no rumor more impossible to knock down than the idea that President Obama might swap Clinton in for Biden at the last moment. Clinton has denied it in every way possible. Everyone around her insists it won’t happen. And yet, still the idea lives on.
Hoping to find out why the Clinton-as-vice-president rumor is so persistent as to be immune from facts, we sought a number of loyalists of the former New York senator seeking guidance.
“Clinton is catnip for cable,” said Phil Singer, who served as a senior aide on the former senator’s 2008 presidential campaign. “She’s a political icon with a job that keeps her above the fray and has numbers that most pols would kill for, so it’s not a surprise that people are talking.”
All true. Clinton does have stratospherically high poll numbers; a September 2011 CNN survey pegged her favorable rating at an eye-popping 69 percent. Just 26 percent viewed the formerly polarizing ex-first lady unfavorably. (Biden’s favorable/unfavorable score in that same poll was far less healthy: 42 percent saw him favorably, 41 percent unfavorably.)
Another Clinton ally was also quick to lay the blame for the ongoing Clinton-Biden swap at the feet of the media. “The press has got to stop writing about their favorite imaginary campaign and just cover the real one, which is plenty interesting,” said the source.
And yet the “blame the media” sentiment, while common, doesn’t get at the full picture of why Hillary on the national ticket still captivates. (Anecdote worth noting: At every talk the Fix gives — and we give them from time to time — one of the first questions is about the idea of a Clinton-Biden swap. We never bring it up.)
One Clinton supporter provided three reasons — none on which included the media — for why the idea of a veep swap remains alive and well.
“A) Her 2008 supporters remain fervent,” wrote the source in an email to the Fix. “B) Some 2008 Obama supporters have buyer’s remorse/guilt. C) Her numbers are off the charts because she has been out of politics and done a good job as Secretary of State”.
That seems to strike at the heart of the never-say-die-ness of the rumors about Clinton for vice president (or for president in 2016). She retains a loyal base within the party — these people are also loyal to Obama but hold Hillary more dear — and has, if anything, strengthened her image as a major political figure in the years since she took on the Secretary of State job.
Figuring out the gen­esis of the rumor — or at least the perpetual motion machine that keeps it circulating — doesn’t change the fundamental reality of why Clinton won’t be on the ticket.
To swap Biden, who has done nothing major wrong since coming onto the ticket back in 2008, for Clinton would reek of panic within the White House. It would be cast, almost certainly, as Obama throwing a hail mary pass — not exactly the message an incumbent president wants to be sending.
But remember, just because it won’t happen doesn’t mean people will stop talking about it. These are the Clintons after all. And this is politics.
Kissell joins Blue Dogs: The shrinking Blue Dog caucus is increasing its ranks — for the moment, at least — thanks to Rep. Larry Kissell (D-N.C.), who just joined the group of conservative-leaning Democrats. There are now 25 Blue Dogs, but five are retiring or running for higher office.
“I’ve always said I’m not much of a joiner, but I believe that a strong moderate presence is needed, and that’s why I have joined the Blue Dog Coalition,” Kissell said in a statement.
Redistricting has made Kissell’s reelection prospects much dicier, and belonging to a group that has often clashed with Democratic leadership can probably only help him in a new district that went 57 percent for Sen. John McCain (R-Ariz.) in the 2008 presidential race. (Kissell’s old district was about 10 points more Democratic.)
New Hispanic data from GOP group: Resurgent Republic, a Republican polling organization, is out with a nifty new infographic designed to help conservatives reach out to Hispanic voters.
The GOP faces a significant deficit with a rapidly growing demographic that risks its future political prospects. Along with some interesting data, the Resurgent Republic site makes the case that Republicans can connect to Latinos on a number of issues.
Mourdock faces party investigation: Indiana state Treasurer Richard Mourdock, who is challenging Sen. Dick Lugar (R), is being probed by the state GOP after after allegations that the candidate improperly accessed the party’s voter files.
In an email obtained by the AP, Mourdock’s campaign manager asked staffers to “start pillaging email addresses” from Salesforce, a database used by Indiana Republicans.
It’s been a great couple weeks for Mourdock — an an internal poll Wednesday showed Mourdo­ck at 42 percent and Lugar at 41 — this investigation could do some damage to the tea party-backed candidate and bolster Lugar a bit.

please follow these links that influenced this article hereinbelow: http://aapoliticalpundit.blogspot.com http://admin@boomantribune.com http://agoodchoice.blogspot.com http://aintitcool.com http://awardsdaily.com http://barackswhitelies.blogspot.com http://binside.typepad.com http://binside.typepad.combinside_tv http://blog.paltalk.com/press http://blogs.ajc.comjay-bookman-blog http://blogs.sohh.com http://bluebeerriver.blogspot.com http://boomantribune.com http://cdrsalamander.blogspot.com http://cincywestsidequeer.blogspot.com http://citizenwells.wordpress.com http://colonelrobertneville.blogspot.com http://crooksandliars.com http://darnfunnyonline.com http://delawareliberal.net http://dominantreality.blogspot.com http://drudge.com http://firedoglake.com http://firedoglake.com http://freedomeden.blogspot.com http://fullmetalpatriotblog.com http://gaypatriot.net http://gcoldsnow.blogspot.com http://goodasyou.orggood_as_you http://hughmcbryde.blogspot.com http://immigrationmexicanamerican.blogspot.com http://ketchupisavegetable.com http://kylecrawford.blogspot.com http://larrykane.com http://laughlines.blogs.nytimes.com http://mcclernan.blogspot.com http://mediaite.com http://mediaite.com...comment-page-3 http://michellemalkin.com http://mjpoetgurl.livejournal.com http://morehandythancapped.blogspot.com http://motivationalpostersonline.blogspot.com http://moviemavengal.blogspot.com http://mrssatan.blogspot.com http://nichevo-gerrym0527.blogspot.com http://noquarterusa.netblog http://noquarterusa.netblog http://padresteve.wordpress.com http://pajamasmedia.com http://personalliberty.com http://politico.com http://queerty.com  http://rantsthoughtsmerde.com http://rantsthoughtsmerde.com http://redstate.commoe_lane http://rightwingnuthouse.com http://riverdaughter.wordpress.com http://rodonline.typepad.comrodonline http://rogerowengreen.blogspot.com http://rumproast.comindex.php http://sadlyno.com http://sc6.blogspot.com http://scaredmonkeys.com http://scienceblogs.comdeltoid http://silveristhenew.com http://sistertoldjah.com http://smalltalkwitht.blogspot.com http://southdacola.comblog http://stella-arnaldo.blogspot.com http://swamppolitics.comnewspoliticsblog http://talkleft.com http://texasmonthly.comblogsburkablog http://theblaze.comstoriesap...comment-page-2 http://thefiresidepost.com http://thefiresidepost.com http://thefiresidepost.comredneckgazette http://theimmoralminority.blogspot.com http://thenextpresidentvisitsnevada.blogspot.com http://thesilverbacks.blogspot.com http://thethoughtvox.com http://tpmcafe.talkingpointsmemo.comtalk http://washingtonmonthly.com http://wehoconfidential.com http://wehoconfidential.com http://whereitstands.com http://wnyc.orgshowsbl http://wonkette.com http://wordforge.net http://wwwwakeupamericans-spree.blogspot.com aapp,alex-alvarez,Andrew,b.-daniel-blatt,barack's-white-lies-,ben-smith,big-tent-democrat,binside-tv-,blog-dude,booman-,booman-tribune,bpc621,brad,brady-bonk,bryan-clark-,by-nancy,by-uncle-gerry,cdr-salamander,chip-wood,citizenwells,colonel-robert-neville,crispus-attucks,crooks-and-liars-,darnfunnyonline.com, david-drake,dee,desidero,dominant-reality-,Elliott,frank-james,full-metal-patriot,fullmetalpatriot,g-a-y,gaypatriot-,gillian-coldsnow,good-as-you,good-choice-,gregjaye,gryphen,hale-mckay,Hercules,hoopshoops.blogspot.com,it-occurred-to-me,jack-stuef,jacob-sullum,jay,jay-bookman,john-amato,kevin-drum,kyle,larry-johnson,larry-kane,mary,matt-schneider,,meredith-jessup,michelle-malkin,mike-reino,mj,modern-pharisee-,moe-lane-profile,mondoreb,more-handy-than-capped,motivational-posters,movie-maven-gal,mushy,native-nyker,nativenyker,nativenyker's-rants,-thoughts-&-merde,nichevo,no-quarter-,ohg-the-younger,oleg-atbashian,padresteve,paltalk,pamela-detlor,paulburka,peterr,politico-top-stories-,queercincinnati.com,rick-moran,riverdaughter,rod,roger-green,ryan-adams,sadly,-no!-,scared-monkeys,silveristhenew,sister-toldjah,sister-toldjah-,sohh-blog-network,sohh.com-,stella-arnaldostella-arnaldo's-blogspot-,steve-yeich,susan-duclos,susanunpc,tara,texlahoma,the-blaze-stories,the-captain,the-confluence-,the-crowe's-nest,the-fireside-post,the-immoral-minority,the-next-president-visits-nevada,the-phariseethe-redneck-gazette,the-silverbacks,todd-feinburg,tom-kuntz,wonkette, עביד כארכי الأخطل عبيد كركي st.sheetrock's Offensive Comedy Obaid Karki"hepcat" Provocateur Blackbelt Diehart Paulite Libertarian, paleoconservative, Diogenesist, Spinoziste, Qutbist, Kabbalist, Pantheon, Hexalingual, Automath, Anti-tribal Gentile Cabal, unaffiliated to a STATE or Organized Religious Cult Time is up! Standup like a man or die like a coward 1000 times

please follow these links that influenced this article hereinbelow:

http://aapoliticalpundit.blogspot.com

http://admin@boomantribune.com

http://agoodchoice.blogspot.com

http://aintitcool.com

http://awardsdaily.com

http://barackswhitelies.blogspot.com

http://binside.typepad.com

http://binside.typepad.combinside_tv

http://blog.paltalk.com/press

http://blogs.ajc.comjay-bookman-blog

http://blogs.sohh.com

http://bluebeerriver.blogspot.com

http://boomantribune.com

http://cdrsalamander.blogspot.com

http://cincywestsidequeer.blogspot.com

http://citizenwells.wordpress.com

http://colonelrobertneville.blogspot.com

http://crooksandliars.com

http://darnfunnyonline.com

http://delawareliberal.net

http://dominantreality.blogspot.com

http://drudge.com

http://firedoglake.com

http://firedoglake.com

http://freedomeden.blogspot.com

http://fullmetalpatriotblog.com

http://gaypatriot.net

http://gcoldsnow.blogspot.com

http://goodasyou.orggood_as_you

http://hughmcbryde.blogspot.com

http://immigrationmexicanamerican.blogspot.com

http://ketchupisavegetable.com

http://kylecrawford.blogspot.com

http://larrykane.com

http://laughlines.blogs.nytimes.com

http://mcclernan.blogspot.com

http://mediaite.com

http://mediaite.com…comment-page-3

http://michellemalkin.com

http://mjpoetgurl.livejournal.com

http://morehandythancapped.blogspot.com

http://motivationalpostersonline.blogspot.com

http://moviemavengal.blogspot.com

http://mrssatan.blogspot.com

http://nichevo-gerrym0527.blogspot.com

http://noquarterusa.netblog

http://noquarterusa.netblog

http://padresteve.wordpress.com

http://pajamasmedia.com

http://personalliberty.com

http://politico.com

http://queerty.com

http://rantsthoughtsmerde.com

http://rantsthoughtsmerde.com

http://redstate.commoe_lane

http://rightwingnuthouse.com

http://riverdaughter.wordpress.com

http://rodonline.typepad.comrodonline

http://rogerowengreen.blogspot.com

http://rumproast.comindex.php

http://sadlyno.com

http://sc6.blogspot.com

http://scaredmonkeys.com

http://scienceblogs.comdeltoid

http://silveristhenew.com

http://sistertoldjah.com

http://smalltalkwitht.blogspot.com

http://southdacola.comblog

http://stella-arnaldo.blogspot.com

http://swamppolitics.comnewspoliticsblog

http://talkleft.com

http://texasmonthly.comblogsburkablog

http://theblaze.comstoriesap…comment-page-2

http://thefiresidepost.com

http://thefiresidepost.com

http://thefiresidepost.comredneckgazette

http://theimmoralminority.blogspot.com

http://thenextpresidentvisitsnevada.blogspot.com

http://thesilverbacks.blogspot.com

http://thethoughtvox.com

http://tpmcafe.talkingpointsmemo.comtalk

http://washingtonmonthly.com

http://wehoconfidential.com

http://wehoconfidential.com

http://whereitstands.com

http://wnyc.orgshowsbl

http://wonkette.com

http://wordforge.net

http://wwwwakeupamericans-spree.blogspot.com

aapp,alex-alvarez,Andrew,b.-daniel-blatt,barack’s-white-lies-,ben-smith,big-tent-democrat,binside-tv-,blog-dude,booman-,booman-tribune,bpc621,brad,brady-bonk,bryan-clark-,by-nancy,by-uncle-gerry,cdr-salamander,chip-wood,citizenwells,colonel-robert-neville,crispus-attucks,crooks-and-liars-,darnfunnyonline.com, david-drake,dee,desidero,dominant-reality-,Elliott,frank-james,full-metal-patriot,fullmetalpatriot,g-a-y,gaypatriot-,gillian-coldsnow,good-as-you,good-choice-,gregjaye,gryphen,hale-mckay,Hercules,hoopshoops.blogspot.com,it-occurred-to-me,jack-stuef,jacob-sullum,jay,jay-bookman,john-amato,kevin-drum,kyle,larry-johnson,larry-kane,mary,matt-schneider,,meredith-jessup,michelle-malkin,mike-reino,mj,modern-pharisee-,moe-lane-profile,mondoreb,more-handy-than-capped,motivational-posters,movie-maven-gal,mushy,native-nyker,nativenyker,nativenyker’s-rants,-thoughts-&-merde,nichevo,no-quarter-,ohg-the-younger,oleg-atbashian,padresteve,paltalk,pamela-detlor,paulburka,peterr,politico-top-stories-,queercincinnati.com,rick-moran,riverdaughter,rod,roger-green,ryan-adams,sadly,-no!-,scared-monkeys,silveristhenew,sister-toldjah,sister-toldjah-,sohh-blog-network,sohh.com-,stella-arnaldostella-arnaldo’s-blogspot-,steve-yeich,susan-duclos,susanunpc,tara,texlahoma,the-blaze-stories,the-captain,the-confluence-,the-crowe’s-nest,the-fireside-post,the-immoral-minority,the-next-president-visits-nevada,the-phariseethe-redneck-gazette,the-silverbacks,todd-feinburg,tom-kuntz,wonkette,

עביד כארכי الأخطل عبيد كركي st.sheetrock’s Offensive Comedy Obaid Karki”hepcat” Provocateur Blackbelt Diehart Paulite Libertarian, paleoconservative, Diogenesist, Spinoziste, Qutbist, Kabbalist, Pantheon, Hexalingual, Automath, Anti-tribal Gentile Cabal, unaffiliated to a STATE or Organized Religious Cult

Time is up! Standup like a man or die like a coward 1000 times

 

ZIMMERMAN The asshole who is unable to steal a decent lie to save his life

April 16, 2012

UNLEASH YUAN AS WORLD SECOND CURRENCY

April 16, 2012

Here is Some Mindsteroid Must-Read:
The People’s Bank of China, the country’s central bank, said in a statement published on its official website that the floating band in the inter-bank spot foreign exchange market will be enlarged from 0.5 percent to 1 percent effective April 16.
To keep the exchange rate stable, the PBOC has set a daily reference rate for the yuan and it will be allowed to fluctuate only to the daily limit on either side of the reference rate. The trading range was widened to 0.5 percent from 0.3 percent in May 2007.
It also raised the spread between dollar selling and buying prices offered by the foreign exchange-designated banks to their customers to 2 percent of the reference rate, from the current level of 1 percent.
News of this announcement was widely supported by the International Monetary Fund (IMF) as it promoted market transparency and economic stability. From CBS Market Watch:
Christine Lagarde, managing director of the International Monetary Fund, welcomed the move.
“This underlines China’s commitment to rebalance its economy toward domestic consumption and allow market forces to play a greater role in determining the level of the exchange rate,” Lagarde said in a statement.
The scale of the widening is bigger than the 0.7% the market had expected, according to Ting Lu, a China economist at Bank of America Merrill Lynch, in emailed comments.
Earlier this week, China Securities Regulatory Commission increased the quotas for foreign institutional investors from $30 billion to $80 billion. This move highlights a strategic economic shift from an export model to a consumption model. From Bloomberg News:
China, the world’s second-biggest economy, has pledged this year to free up control of the yuan and liberalize interest rates as the government deepens reforms to revive growth and offset slowing exports and a cooling housing market. China needs to rely more on markets and the private sector as its export- oriented model isn’t sustainable, World Bank President Robert Zoellick said in February.
“More action on opening up their markets to outside investment is definitely a positive,” Jeff Papp, a senior analyst in Lisle, Illinois at Oberweis Asset Management Inc., which oversees about $700 million, said in a phone interview. “It’s not a huge amount. They’re taking a small-steps approach to see how markets will react with more participants.”


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