On the heels of its 'stealthy' easing, The PBOC just lowered the ax on the Yuan Fix - slashing their reference rate by the most since June 2016. As we concluded previously, so how long before the trade war, which is already shifting to a currency war as a result of the recent record devaluation in the yuan, morphs into a central bank war and a renewed race to the bottom between the world's two most important economies? .. or worst still as Bannon suggested, a kinetic war. Russia is an annoyance. China is our great challenge. Russia's economy is the size of Texas or New York State? It's got lots of nuclear ... (full story)