VDARE.com: 08/09/07 - China’s "Nuclear Option" Is Real

VDARE.com: 08/09/07 - China’s "Nuclear Option" Is Real: "US Treasury Secretary Henry Paulson, just back from Beijing, where he gave China orders to raise the value of the Chinese yuan 'without delay,' dismissed the Chinese announcement as 'frankly absurd.' "

china yuan pegged to dollar

China makes ... $232 Billion outta USA trade.
Their yuan is being under valued :: because pegged to dollar.
China says the yuan currency is undervalued by as much as 40 percent, making Chinese exports cheaper.
and holds $1TRILLION in US cash ... they like to trade it off ...

Effect::
could trigger a crash of the already-falling greenback and a spike in the US bond yields, which could then dampen the beleaguered housing market and put the world's richest economy into a recession.

Channelnewsasia.com: "Described as China's 'nuclear option' in the state media, such a move could trigger a crash of the already-falling greenback and a spike in the US bond yields, which could then dampen the beleaguered housing market and put the world's richest economy into a recession. When asked whether such an option would hurt China more than the United States, Bush said, 'Absolutely. I think so.' China reportedly holds some 900 billion dollars in a mix of US bonds. "

china wants to dump Trillion in U$D held in China Banks

Channelnewsasia.com: "'That would be foolhardy of them to do that,' Bush said in an interview with Fox News, adding he doubted the report was based on sources from the office of Chinese President Hu Jintao. 'If that's the ... position of the government, it would be foolhardy for them to do this.' US Treasury Secretary Henry Paulson meanwhile said on CNBC that suggestions that China was considering selling off dollar-denominated assets to hammer the already weakened US dollar were 'absurd.' "

...
two officials at leading Communist Party bodies had given interviews in recent days warning that Beijing might use more than a trillion dollars in foreign reserves as a political weapon in the event of US sanctions designed to punish Beijing for yuan manipulation.

But authorities have yet to find any evidence linking Cho to any of his victims

Great Falls Tribune - www.greatfallstribune.com - Great Falls, MT: "State Police spokeswoman Corinne Geller said investigators don't know how long the doors to Norris Hall were chained shut in what might have been a practice run that Saturday. But authorities have yet to find any evidence linking Cho to any of his victims on the Blacksburg campus. Investigators have not located Cho's cell phone or the hard drive to his computers, which could answer that question and others, said Virginia State Police Superintendent Col. Steve Flaherty. "

Europe Balks, ECB Steps In Again - Forbes.com

Europe Balks, ECB Steps In Again - Forbes.com: "That was the first time since the Sept. 11, 2001, terrorist attacks that the ECB had intervened with such a large amount, and 49 banks borrowed a total $130 billion. (See: ' ECB Quenches Europe's Liquidity Thirst') About an hour after the funds were made available, 62 banks had bid for loans from the Central Bank ,for a total of 61 billion euros ($83 billion). "