If the Communist Chinese devalue the yuan against a dollar that is appreciating against gold, has the yuan gone up or down? We ask because the leading story on the New York Times Web site this morning reports not only that the Chicom authorities "sharply devalued" the renminbi but also that the move "could raise geopolitical tensions and weigh on growth elsewhere." We ran the Times' entire text through the Sun's old hand-crank Von Mises brand language-species prose separator. It failed to find any mention of -- or even allusion to -- gold. ...
... For the remainder of the commentary:
http://www.nysun.com/editorials/the-fiat-yuan/89249/
