CHINESE CURRENCY PANIC NOW CLEARLY UNDERWAY

China is getting desperate as it throws Capital Controls, Selling of FX Reserves and regulatory restrictions on citizens from buying overseas property, securities, life insurance or other investment-style insurance products. In fact, the only approved uses of funds are tourism, schooling, business travel and medical care. Which means any offshore asset purchases have been effectively limited.

So what are the Chinese doing? Buying BITCOIN!

BITCOIN IN CHINESE CURRENCY

CHINESE CURRENCY IN US DOLLARS