Banro Corp. fka BAA

[investorwisdom]

You know China has initiatives. They want to keep the Yuan low so they can export and keep the economy growing and keep people employed. If the value of the Yuan rises too fast this will hurt any Chinese exports because compared to Dollars or Euros or whatever the goods will become more expensive. China has previously set mandates to keep the Yuan low. Today's devaluation was done in an effort to devalue the yuan and lift exports thus improving the economy. Gold sales to China were much stronger over the last few years, however China released recently a report for the first time in years saying the Gold holding was much lower than everyone had anticipated. However this is manipulation by the government to artificially give the impression of a weak yuan that is not gold backed. However this is in stark contrast to years of Gold hoarding where China was printing Yuan to buy Gold and support the grounds for a future gold standard with the yuan. Because the Chinese stock market is in crash mode, China rather than stifling growth and releasing the accurate gold holdings manipulated the number to artificially give the impression of a weak yuan. China has come out and said it's goal is weaker currency, they have released false manipulated gold holdings in effect to weaken the currency. However they are lying the currency is actually very strong supported by the second largest economy in the World. So today Gold is going up because investors are scared that things in China are much worse than the numbers foretell. Even on the heels of a stronger dollar Gold is going up which is incredibly unusual and in stark contrast to street consensus if China were honest and truthful about the numbers.