This weekend’s announcement that the Chinese are “promising” to let their currency float made big moves across the financial industry. This is not the first time they have hinted about letting their currency float and in my opinion a case of “I’ll believe it when I see it.”

Jim Rogers:Bloomberg 6-21-10

• Jim Rogers hopes it will finally be able to find trade on its own and find its own value
• The Chinese will do what they feel is best for China as opposed to listening to the Obama administration
• It’s not such a big deal as it doesn’t solve too many problems
• China currently has a bubble in urban coastal real estate

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