I wrote awhile back that this bill that was being moved by Grassley, Baucus, Schumer and Lindsey Graham that would attempt to "deal" with China rigging its currency was bad news.
Turns out it is. According to the UK's Telegraph, China is now threatening a "nuclear option" of dollar sales, basically in retribution for trade sanctions that are on offer under the bill.
Were China to take this option, it could crash the dollar. Of course, they'd be silly to do it, because it would...
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