Yesterday (20/01/16) I listened to a fantastic interview on RealVision Television (you have to subscribe) between Mark Hart , Founder/Chairman of Corricentre Adviser LLC (http://investment-advisors.credio.com/l/29610/Corriente-Advisors-LLC) and Grant Williams of RealVision. In it Hart talked about the problem that China has in defending the Yuan and he expected that China will eventually be forced to devalue the Yuan by possibly >50% and that any defense of the Yuan by using reserves will not work. A most fascinating interview without any bullsh..t, just logical facts.  However, it seems the PBOC is attempting to use reserves to do exactly what Hart?Williams believe won’t work.

Offshore Yuan is sliding lower after its

Source: PBOC Injects Massive $60 Billion Liquidity – Most In 3 Years; Chia Stocks, Yuan Drop | Zero Hedge