Future Currency Investments

The U.S. dollar and euro are doomed.

Why? Because in addition to being in slow-growth economies, saddled with debilitating debts, they’re the victims of an enormous increase in money supply.

Result? Serious inflation and devaluation for both currencies in the coming years.

Even if the United States doesn’t add to its already bloated debt, the interest on it – coupled with massive money printing – virtually guarantees higher prices. The same goes for Europe, as the region is printing money out of thin air to bail out its ailing countries and banks.

However, the dollar and euro’s pain could easily be your gain.

You see, the situation is rapidly creating a new currency world order. Specifically, three currencies are poised for a massive upward revaluation…

The Three “Super Currencies” of Tomorrow

There’s a trio of currencies that you must include in your portfolio today.

Backed by solid fundamentals in countries that rely on growth, not artificial monetary stimulation, these three currencies operate on an entirely different playing field to the dollar and euro.

And they’re set to undergo huge revaluations in the coming years. Let me show you why. First up…

~ Currency #1 – Chinese Yuan:

As the dollar and euro decline, the Chinese are busy plowing the yuan into assets that increase in value. Things like mines, factories, other currencies and natural resources.

At current levels, the yuan is a bargain. Of course, the Chinese government deliberately sets the exchange rate artificially low – rather than allowing it to float freely on world markets – in order to profit from Chinese goods and services.

With the world balking at this arrangement, the Chinese will have to revalue the yuan in a big way over coming years. Why? Two reasons…

The Chinese aren’t just goods producers these days… they’re big consumers, too. This means reduced dollar reserves and more yuan will be invested abroad.
The Chinese will be forced to revalue the yuan more frequently and by greater amounts – something the country was unable to do as it was busy accumulating dollars.

As a tandem, these two catalysts will force the value of the yuan higher in the years ahead.

Where to Invest: The FOREX market is fraught with volatility and requires a special currency-trading account to facilitate trades. So in lieu of that, take advantage through the WisdomTree Chinese Yuan ETF (NYSE: CYB), which trades like a stock. Hold for the long term – two to five years – and look for 20% upside against the U.S. dollar in five years.

~ Currency #2 – Indian Rupee:

Having dropped by more than 20% against the dollar over the past couple of years, the rupee is an absolute steal right now.

The Indian Central Bank controls the rupee closely. And in an effort to combat the financial crisis and make Indian goods and services more competitive, it’s allowed the currency to depreciate.

Result? An artificially weak rupee that will appreciate, due to the trend in global growth and money flow.

With Indian GDP growth set to outstrip all Western economies in the years ahead, the country will have to raise interest rates to quell inflation.

In the past, this wasn’t an issue, since India wasn’t a global player when it came to importing goods and services. It was a closed, insulated economy, where the majority of the population bought locally.

But with the Indian middle class approaching some 400 million people, the country is beginning to import more goods. That will lead to inflation, which will force the central bank to tighten monetary policy.

Where to Invest: You can buy the Indian rupee through the WisdomTree Indian Rupee ETF (NYSE: ICN). Again, plan to hold for two to five years. I project 25% growth against the U.S. dollar in five years.

Finally, another currency that stands to gain from the demise of the dollar and euro…

~ Currency #3 – Canadian Dollar:

The Canadian dollar has a bright future.

For starters, Canada is rich in natural resources like oil, timber and gold. As the prospects for global growth pick up, all three are in huge demand from developed and developing economies alike – a trend that will remain for years.

Canada also has its fiscal house in good order. Its AAA credit rating is secure, as the country quickly tackled its debt issues in the early part of this century. As a result, the Canadian dollar has almost doubled against its U.S. counterpart in the past decade.

In addition, Canada didn’t have to bail out its banks or financial system because of lax lending practices. Quite the opposite, in fact. Thanks to their financial strength, Canadian banks are now expanding into the United States in record numbers.

In short, Canada has a lot going for it. It supplies emerging markets… it has a strong and fiscally responsible financial system and government… it will benefit from a U.S. economic recovery… and it maintains a transparent and trusted economy.

Where to Invest: Add the “loonie” to your portfolio through the CurrencyShares Canadian Dollar Trust (NYSE: FXC). Like the Chinese yuan and Indian rupee, this is a long-term holding, with a further 25% gain against the U.S. dollar in five years.

Bottom line: Remember that we’re talking currencies here, so a move of 10% to 15% would be huge. But these three will represent the new world order in the currency market over the coming years – and the gains will reflect that.

The best way to buy the yuan, rupee and Canadian dollar is to make regular investments over time. Don’t just pile in at once. Average your cost over the next few months as the U.S. economy strengthens. This strategy will allow you to buy the currencies at reasonable levels.

RELIX, Thank you for this post. Well written and well thought out. With out getting too personal here, are you a trader? It appears you are. I'm wondering what you might think about both currencies from Afganistan (in the future) because of their vast mineral wealth yet untapped and known from American findings of late? And that of Lybia in that they will soon be on their way of emergence of their civil uprising? Thanks again.

rick152 wrote:RELIX, Thank you for this post. Well written and well thought out. With out getting too personal here, are you a trader? It appears you are. I'm wondering what you might think about both currencies from Afganistan (in the future) because of their vast mineral wealth yet untapped and known from American findings of late? And that of Lybia in that they will soon be on their way of emergence of their cicil uprising? Thanks again.

There are serious considerations of the time-frame for ascension into the world markets. The Central Bank...read Rothschild Central Banks...aren't established in Afghanistan and Libya hasn't got a Rothschild CB at all which is IMHO the reason they are under attack. It took many years of to establish a CB in Iraq. Afghanistan is a cash cow for the CIA as they have gone from being 4th in opium poppy production to now being number one. The United States has long used Afghanistan to support the black ops and covert funding needs. This doesn't sit well with many people but it is true.The US military is actually guarding the fields and supplying fertilizers and tractors which has increased production dramatically. They will be kept down for as long as the USA can get away with it.

relix what kind of time frame are thinking for ur 3 picks?

I don't know about anyone else, but due to the current ride with the IQD I would have to think really hard about trying to profit off of another currency in the future.

mr_evans2u- u make a good point however it doesnt hurt to look into things in regard to the future of our well being

IMO and relix you can correct me if need be, I believe the "interest" in the Yaun, Rupee and, the Canadian dollar would be less for a profit and more of a stabilization of the existing "wealth" one might put into them. One might call investing in these 3 curriencies a quasi savings account. If they increase in value, great! Otherwise I believe that the most important part might be NOT a decrease in value.

Thank you Relix.Any thougt on the Australian DOllar, that is where I am considering place most of the cash for safety and security. The other above currencies I completly agree and are excellet undervalued currencies for futre growth and investment.anywhere from right now to 5 years

rick152- ty for clarifying for me. i have a bad habit of being to literal at times. especialy wen its in regards to something i have no or very little understanding. again ty

Love this thread. Very informative.

bobby booshay wrote:mr_evans2u- u make a good point however it doesnt hurt to look into things in regard to the future of our well being

Great point booshay...A good starting point is provided in the op, but one would be foolhardy to take anything posted on the internet and just jump in. Due diligence is required before making any investment decision. No disrespect intended!

doodoo wrote:

bobby booshay wrote:mr_evans2u- u make a good point however it doesnt hurt to look into things in regard to the future of our well being

Great point booshay...A good starting point is provided in the op, but one would be foolhardy to take anything posted on the internet and just jump in. Due diligence is required before making any investment decision. No disrespect intended!

Doodoo who wrote that for you??? Is that another alter you have coming out today? LOL Seriously what you said is completely correct. Thanks

rick152 wrote:Doodoo who wrote that for you??? Is that another alter you have coming out today? LOL Seriously what you said is completely correct. Thanks

There are actually some rare moments when my happy go lucky or my cynical negative nellie personalities are overcome by doodoo the Brilliant!

With Canada expanding into the United states, what do you think about putting our money into a canadian bank as it is AAA rated verses a US bank? Couldn't we also convert our US dollars into Canadian?

Peso's

doodoo- ty u for the heads up. not thinking bout jumping into something but i have to say even with all the ups n downs on this rollercoaster i like the thrill of learning from people. and yes i do my best to verify what i am told. thanks again.

jca wrote:With Canada expanding into the United states, what do you think about putting our money into a canadian bank as it is AAA rated verses a US bank? Couldn't we also convert our US dollars into Canadian?

Correct, by converting U S D into Canadian then depositing would be a (possible) means of "safeguarding" !

rick152 wrote:IMO and relix you can correct me if need be, I believe the "interest" in the Yaun, Rupee and, the Canadian dollar would be less for a profit and more of a stabilization of the existing "wealth" one might put into them. One might call investing in these 3 curriencies a quasi savings account. If they increase in value, great! Otherwise I believe that the most important part might be NOT a decrease in value.

The time frame will be 5 years. The increase is expected to be between 10% and 25% which, in normal currency trading is exceptional in value.

You are right that this is a safe alternative to the USD because the USD is about to be taken down a few notches and possibly lose its status as reserve currency. (probably not but completely possible) So, you could make 25% in increased wealth, harbor against the dollar storm, and live to play another day. There are many who agree with this analysis. Other currencies may be good but it is a combination of things that makes these three exceed. That is stability, policy, and obvious needed status. India has serious problems in that they have an undervalued currency for now and an underdeveloped infrastructure which makes them ripe for a sudden RV as they begin to compete with China. China is prepared and India isn't. Their infrastructure is in shambles and those projects will require a RV of the currency as they try to catch up and then they will also be in a hurried building phase which will again...pump up their market.

You may enjoy this article that supports this thesis:

The "Sure Thing" Play on India
By Karim Rahemtulla, Senior Correspondent

Karim Rahemtulla Perhaps the biggest challenge emerging markets face is infrastructure. For wealth and commerce to grow, there needs to be a way for goods to be transported and services to be performed.

China, for one, has recognized this necessity. And to support its growing export-based economy, it's spending hundreds of billions of dollars building roads, beltways, a high speed rail, airports, shipping terminals and the like.

In comparison, the other Asian emerging giant, India, has done little to improve its infrastructure. And that fact screams opportunity - one that I talk about in my book, Where in the World Should I Invest?

In this excerpt from the book, I discuss the excellent opportunities that India's infrastructure (or its lack thereof) holds for investors. Enjoy!

The Road to Riches

Infrastructure is likely the easiest "sure thing" play for India. Unlike China, which has spent over a trillion dollars on infrastructure projects in the past 20 years, India has spent a lot of time instead.

They have spent time talking about the trillions needed to improve, build, and maintain their infrastructure. High-speed rail - it's not going to happen. It's hard enough to maintain the low-speed rail systems here. Airports? They're a throwback to the 1970s in almost every respect. Roads? It takes a good hour and half to get from the airport in Mumbai to the Taj Mahal Palace at the Gateway of India on Apollo Bunder - a distance of about 20 miles from the airport. It is my favorite Hotel in Mumbai, a world-class experience from the outstanding food and nightclubs to the well-appointed rooms and service. Be sure to stay in the historic wing. This was the same hotel that suffered a terrorist attack in November 2008. I was staying there just months before. The Hotel has since reopened in all of its grandeur, and I would not hesitate to stay there again.

The ride from the airport to the hotel in Mumbai is an event in its own right and should tell you a thing or two about the road situation. As I mentioned, the ride during rush hour will take more than an hour - believe it.

Picture this: We are in a large coach. Next to us is a taxicab. Next to the cab is a cart being pulled by a horse. Next to that is a tuk-tuk. Next to the tuk-tuk is a scooter. Next to the scooter is a private car. Next to the private car is a man on foot pulling a wooden trailer. Next to him is a cow. And running around these various forms of transport are pedestrians trying to get across the street - there are few traffic lights and scofflaws are the rule of the day.

Oh, I forgot to mention, multiply the scene above by a few thousand and then put them all on a street that would qualify as a minor street in a U.S. city and you will get the drift. Yet, with all of this traffic and mayhem, I have yet to witness one accident on the streets. The local cabbies here (and in China and Vietnam and Thailand and I am sure many other places) have a familiar saying: "good brakes, good horn and good luck."

The traffic situation in India is by far the worst I have witnessed in all of my travels. Yet, the country manages to thrive and prosper. It's a scene I like to call "controlled chaos." I can only imagine how much wealthier and more productive India could actually be if it actually did improve its infrastructure!

There is one pure infrastructure play in India. It's an $11.7 billion company that has more work than it can handle; its order book, or backlog, is currently more than three times its annual sales.

Involved in everything from heavy engineering to energy, the company has seen revenue double in the past five years and quadruple in the past 10. The markets have taken note of this and its shares are amongst the best performers over the past decade. It's difficult to project where the share price will go in the short term, but over the longer term this is another company that you need to own if you want to bet on India's infrastructure growth. And if there is one certainty it is this: India will not grow without spending many hundreds of billions of dollars on its infrastructure.

I'm telling ya, Peso's, with the way things are going look south

Nahh ... not from what I have seen/heard especially along the border. Then there is the political corruption, bribery is a part of the cost of doing business down there ... I know some folks involved with an orphanage down there and the only way anything gets done is by greasing the skids with proper amounts of lubricant.

Kevind53 wrote:Nahh ... not from what I have seen/heard especially along the border. Then there is the political corruption, bribery is a part of the cost of doing business down there ... I know some folks involved with an orphanage down there and the only way anything gets done is by greasing the skids with proper amounts of lubricant.

That is sort of like we think of Washington DC

1alaskan wrote:I'm telling ya, Peso's, with the way things are going look south

Contrary to what most people think and what the lying lame stream media tells us daily, Mexico has a strong currency, strong banking rules and they actually enforce their laws on banking. They do not speculate with depositors money and do not issue bank credit cards. Credit cards are backed by investment pools and the interest rates are attractive.

The border is bad news but the facts are that there are now 23,000 expats in the Lake Chapalla area alone and that isn't including the Yucatan Peninsula and the other popular retirement areas. Solution: Stay away from the north border. That problem / mini-war is a product of America and our ignorant drug laws. Heard of Fast and Furious? We are actually supplying thousands of weapons to the Cartels and Gangs and our fearless leader and his sidekick Eric Holder are guilty as sin.

My point? When the currency is strong and the banking regs are strong, there is nowhere for the currency to go. There will be no significant increase in value. NO RV! Not a good speculative investment but a good safe haven and housing prices are very attractive. Colombia is even better...MUCH better. Now they are on the upswing and direct foreign investment is extremely lucrative. Many millionaires will be made there in the next five years. It is wide open!!!

DC is clean as a whistle in comparison JMO

P.S. Factoid...Mexico has more billionaires per capita than any other country in the world.

RELIX wrote:

1alaskan wrote:I'm telling ya, Peso's, with the way things are going look south

Contrary to what most people think and what the lying lame stream media tells us daily, Mexico has a strong currency, strong banking rules and they actually enforce their laws on banking. They do not speculate with depositors money and do not issue bank credit cards. Credit cards are backed by investment pools and the interest rates are attractive.

The border is bad news but the facts are that there are now 23,000 expats in the Lake Chapalla area alone and that isn't including the Yucatan Peninsula and the other popular retirement areas. Solution: Stay away from the north border. That problem / mini-war is a product of America and our ignorant drug laws. Heard of Fast and Furious? We are actually supplying thousands of weapons to the Cartels and Gangs and our fearless leader and his sidekick Eric Holder are guilty as sin.

My point? When the currency is strong and the banking regs are strong, there is nowhere for the currency to go. There will be no significant increase in value. NO RV! Not a good speculative investment but a good safe haven and housing prices are very attractive. Colombia is even better...MUCH better. Now they are on the upswing and direct foreign investment is extremely lucrative. Many millionaires will be made there in the next five years. It is wide open!!!

Hmmm....all very good ideas...but I think I'll go with the "Don't be foolhardy to take anything posted on the internet and just jump in." investment strategy...thanks DooDoo.

So post-RV, using this sound Cat-vestment strategy, I will personally be buying 50,000 Metric Tonnes of Kitty Litter !

That ought to be able to handle ANY and ALL the CARP they can throw our way...and we can start by dumping most of it on Washington, D.C. to clean up that mess.

So come on everybody, who's with me !?!?!?!?

"Dooo your Doody, buy some D.C. Kitty-Litter to clean things up!"

I second the motion -

HEY RELIX How about the Iraqi Dinar............Looks like that may or may not be a future OR a very much in the away future investment. whacha think

PrudenceArt wrote:HEY RELIX How about the Iraqi Dinar............Looks like that may or may not be a future OR a very much in the away future investment. whacha think

I love it! Someone tries to contribute in a serious way and you clowns are too fruity to just read and be aware. I'm not telling to do or not to do anything. I am just giving you good solid info right from the horses mouth but you want to listen to the other end...well have it your way and enjoy your silly festival.

Here is the newest info so remember where you heard it first!
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

CHINA The central bank said it will allow the yuan to fluctuate by upto 1% against the dollar each day beginning Monday, up from 0.5% previously.

The US and other governments say an undervalued yuan gives China's exporters an unfair price advantage, swelling its trade surplus and hurting foreign competitors at a time when other governments are struggling to lower unemployment.

http://timesofindia.indiatimes.com/business/international-business/China-relaxes-yuan-control-expands-trade-bandwidth/articleshow/12670825.cms

expands-trade-bandwidth/articleshow/12670825.cms beginning Monday. HUGE. 7 percent per week

Relix I appreciate you and your info and I've said it before. Keep ya head up.

Thank you Relix for the knowledge now it is up to us to do the research!

Come on RV!!

Physical silver and gold are the best ways to guarantee your money, IMHO. Pre-1964 US dimes, quarters, halves, and big silver dollars first. Silver bullion, second. Gold coins and bullion once you have a substantial stockpile.

Again, do your own homework. But, this is the best way to go....IMHO.

Relix, what you posted here makes good sense to me. Everyone in my group has either read what you posted or I have told them about it. We all plan to convert part of our rv money into "The Three Super Currencies of Tomorrow". All three of them. Thanks for the heads up! We owe you one.

bigdaddytim wrote:Physical silver and gold are the best ways to guarantee your money, IMHO. Pre-1964 US dimes, quarters, halves, and big silver dollars first. Silver bullion, second. Gold coins and bullion once you have a substantial stockpile.

Again, do your own homework. But, this is the best way to go....IMHO.

Big Daddy: You are mixing oranges with apples. Gold and silver DO NOT qualify as investments nor are the an arbitrage maneuver. To buy gold and silver are merely a way of preserving wealth. The less a USD is worth the more an ounce of gold or silver will cost. When gold and silver go up and down in price, that reflects the relative worth of the USD. With the wild gyrations of the past few years in precious metals, you may have an idea of how worthles out fiat currency really is. The USD is in trouble and there is no way out...only temporary fixes. I will also add that the Patriot Act provides that the government can confiscate both bullion and numismatic gold and silver. Other interesting items in the PA are that they consider anyone with a safe deposit box to be engaged in criminal activity and they say they can enter your safe deposit box without your permission or knowledge and take the contents including precious jewels. It goes on the state that the coin dealers must keep records of who buys gold and silver of any type and have picture ID. Many do not comply but??????? The PA says that upon presentment of an Administrative Letter written by any field agent, they can enter a coin broker, close the doors, and demand the presentment of the books and records which will direct them to your house if you have enough gold and silver to make it worth them robbing you.

This is now a rogue nation with no brakes on this run away train. The light at the end of the tunnel may just be another oncoming train.

Invest and hedge are both wise moves. I am not disputing that gold and silver aren't smart moves but have a place to hide it and try not to provide identification when you buy. Investments in currencies...if you have enjoyed this Dinar exercise...is also a good way to make money for the studied investor. How do you think George Soros made so much money. He broke the pound sterling and also made a bundle in the Peso many years ago when we bailed them out. Sound familiar?

Cardiac99 wrote:Relix, what you posted here makes good sense to me. Everyone in my group has either read what you posted or I have told them about it. We all plan to convert part of our rv money into "The Three Super Currencies of Tomorrow". All three of them. Thanks for the heads up! We owe you one.

The current news says the Rupi and Yuan have revalued. China and India are prime these days and it is happening as we speak.

Actually a number of financial experts are pretty bearish on precious metals of late. To unstable and in their opinion, they (gold especially) are overvalued. Keep in mind that the gold dealers have exactly zero government oversight or (for the most part anyway,) licensing and so can claim what they want as long as it's not a blatant lie.

RELIX wrote:

Cardiac99 wrote:Relix, what you posted here makes good sense to me. Everyone in my group has either read what you posted or I have told them about it. We all plan to convert part of our rv money into "The Three Super Currencies of Tomorrow". All three of them. Thanks for the heads up! We owe you one.

The current news says the Rupi and Yuan have revalued. China and India are prime these days and it is happening as we speak.

I read that after I made this post. OH, WELL. Time to re-direct and make a new plan, I guess. Maybe I will just park the USD for a few weeks and let the dust settle, then see what's going on.

The Yaun has not revalued, it has just had the parameters of it's float changed they just adjusted the trading band from .5% to 1% that's all ... nothing more, nothing less. It has actually dropped slightly against the USD. The Rupee shows no changes and is trading at a 3 month low.

http://online.wsj.com/article/SB10001424052702304432704577347473114695582.html

http://in.reuters.com/article/2012/04/16/markets-india-rupee-close-idINDEE83F0B420120416

Kevind53 wrote:The Yaun has not revalued, it has just had the parameters of it's float changed they just adjusted the trading band from .5% to 1% that's all ... nothing more, nothing less. It has actually dropped slightly against the USD. The Rupee shows no changes and is trading at a 3 month low.

http://online.wsj.com/article/SB10001424052702304432704577347473114695582.html

http://in.reuters.com/article/2012/04/16/markets-india-rupee-close-idINDEE83F0B420120416

Hve it your way there SuperMod. But this came from the Wall Street Journal and as I posted earlier:

CHINA The central bank said it will allow the yuan to fluctuate by upto 1% against the dollar each day beginning Monday, up from 0.5% previously.

The US and other governments say an undervalued yuan gives China's exporters an unfair price advantage, swelling its trade surplus and hurting foreign competitors at a time when other governments are struggling to lower unemployment.

http://timesofindia.indiatimes.com/business/international-business/China-relaxes-yuan-control-expands-trade-bandwidth/articleshow/12670825.cms

expands-trade-bandwidth/articleshow/12670825.cms beginning Monday. HUGE. 7 percent per week

Personally, 7% per week is a RV. You have correct info for when it was released but now it is old and useless. But who am I to argue with a SUPERMOD?

This news piece says the Yuan has dropped in value:

Asian Currencies Drop Most in Four Weeks on Europe; Yuan Weakense]


　

http://dinardaily.forumotion.com/t20784-asian-currencies-drop-most-in-four-weeks-on-europe-yuan-weakens

Kevind53 wrote:Actually a number of financial experts are pretty bearish on precious metals of late. To unstable and in their opinion, they (gold especially) are overvalued. Keep in mind that the gold dealers have exactly zero government oversight or (for the most part anyway,) licensing and so can claim what they want as long as it's not a blatant lie.

The truth is that Gold and Silver are still under the control of the manipulators who control the entire market via a program designed and supplied by Alan Greenspan. They can make it ZERO if they want with just a few keystrokes. They can make it $5000.00 with a few different key strokes. What you see is what you get and those bearish folks may just be players and not researchers.

Something you may find very interesting is The Road To Roota theory. Bix Weir is no dummy and the pre-destined failure of fiat currency has been under way for a long time. If you have the time, go to: www.roadtoroota.com

This is going to seem totally contrary to everything you think you know but give it a chance to sink in. The accuracy has been uncanny and the timeline has been spot on.

You cannot deny the fact that the percentage increases over the past 10 years has been outstanding and once again...I will state...Gold and Silver are not investments to be played like the stock market. It is a safe harbor for wealth preservation as the value...when out of the control of the manipulators...will reflect the value of the dollar to gold / silver. BTW...silver will be the real producer NOT gold.

As Forrest Gump says, "That's all I got to say bout that."

[quote="RELIX"]

Kevind53 wrote:
Hve it your way there SuperMod. But this came from the Wall Street Journal and as I posted earlier:

CHINA The central bank said it will allow the yuan to fluctuate by up to 1% against the dollar each day beginning Monday, up from 0.5% previously.

The US and other governments say an undervalued yuan gives China's exporters an unfair price advantage, swelling its trade surplus and hurting foreign competitors at a time when other governments are struggling to lower unemployment.

It just means it's being allowed to float a little more freely. A 1% float simply means the currency will be allowed to vary 1% up or down. In reality, the government could step in and intervene behind the scenes, to prevent it from ever happening ... China mearly increased that band from .5% to 1%. It's NOT an RV, sorry, but it's just not. BTW just because we may not see eye to eye on an issue, you don't need to make it personal ... I didn't attack you, I just disagreed, and provided substantive reasons why. And yeah, the Yuan is down slightly again today.