Beijing Considering Yuan Devaluation In Response To Trump Tariffs Two days ago, when China reported another month of dismal import and export activity, with both missing estimates… … we reminded readers that at a time when China is scrambling – and failing – to convince the world that it will unleash a historic fiscal and monetary stimulus (just not right now, and not tomorrow, but maybe some time next year so start buying Chinese stonks or something), it will also have to devalue the yuan if it hopes to actually kickstart its mercantlist economy. One day later: Yuan Slides on Report China Considering Weaker Currency in 2025: BBG https://t.co/bILDeGQxhJ — zerohedge (@zerohedge) December 11, 2024 Turns out we were right once again because just under a decade since China’s infamous 2015 yuan devaluation, Beijing is getting ready for round two. According to Reuters, Beijing policymakers are mulling letting the yuan depreciate, possibly to around 7.5 per dollar, in response to the threat of a trade war with the US. Letting the yuan , depreciate could make Chinese exports cheaper, blunting the impact of tariffs, and creating looser monetary settings in mainland China. Reuters spoke to three people who have knowledge of the discussions about letting the yuan depreciate but requested anonymity because they are not authorized to speak publicly about the matter. Following the news, which had been rumored both here and elsewhere in recent weeks, the China’s yuan slid the most in a week, while regional peers also slumped, with the New Zealand dollar falling to the weakest in more than two years, while the Australian dollar hit levels last seen in November last year. Pressure on the yuan had intensified since the re-election of Donald Trump, who has threatened to impose tariffs on China and other countries, and

Pentagon Denies Congressman’s Claim Of Iranian ‘Mothership’ Launching Drones Off US Coast Update (1523ET): “There is not any truth to that,” Pentagon Deputy Press Secretary Sabrina Singh told reporters Wednesday afternoon, hours after Republican Congressman Jefferson Van Drew of New Jersey claimed on Fox News that Iranian drones were flying over New Jersey skies. Singh said: “There is no Iranian ship off the coast of the United States … and there is no so-called ‘mothership’ launching drones towards the United States.” “They were not US military drones,” she continued, adding, “These are not drones or activities from a foreign entity or foreign adversary.” 🚨NEW🚨 Deputy DoD Press Secretary says that these are NOT Iranian drones, and there is no Iranian “mothership” off the eastern seaboard, and that these drones are not from any foreign entities. She also claims that these are NOT US MIL drones. pic.twitter.com/Bse6bW7oQF — Clandestine (@WarClandestine) December 11, 2024 Good question. If it’s not Iran, a foreign entity, or the US MIL, that would leave: -Intelligence community -Private entity/civilian -Extraterrestrial But who knows if she is even telling the truth. — Clandestine (@WarClandestine) December 11, 2024 Sigh. USNorthCom, who oversees the defense of US Airspace, needs permission in order to investigate the recent drone incursions near sensitive DoD facilities in New Jersey. Does anyone see a problem with this? https://t.co/fDVw8AqDqe — TheIntelFrog (@TheIntelFrog) December 11, 2024 Just a giant distraction?  *   *   *   Republican Congressman Jefferson Van Drew of New Jersey, a member of both the House Judiciary Committee and the Transportation and Infrastructure Committee, told Fox News’ Harris Faulkner around noon that government sources have informed him that mysterious drones in New Jersey skies at night originate from an Iranian “mothership” stationed off the US East Coast.  “Here’s the real deal Harris …. and I’ve gotten to know people. And

US Rushes To Contain Turkey-Backed Offensive Against Its SDF Proxy In Syria Via Middle East Eye The US government is scrambling to address a Turkish-backed offensive targeting the Syrian Democratic Forces (SDF) in Syria following the fall of Bashar al-Assad’s regime. Turkish officials have announced that Secretary of State Antony Blinken will visit Ankara on Friday. A statement from the State Department indicated that Blinken will discuss the importance of ensuring that the transition process and the formation of a new government in Syria respect the rights of minorities and prevent Syria from being used as a base for terrorism. Image via War on the Rocks Washington was reportedly caught off guard by the rapid overthrow of Assad by Hay’at Tahrir al-Sham (HTS)-aligned forces, which occurred in just 11 days. Reports suggest that US officials had been attempting to negotiate a deal with Assad that would have normalized his position in exchange for severing ties with Hezbollah and Iran. The US has expressed concern over Turkish-backed Syrian National Army (SNA) operations targeting the SDF, a US partner force. Buffer zone These operations have resulted in the seizure of areas including Tal Rifaat and Manbij, which had been under SDF control earlier this month. By securing Tal Rifaat and Manbij, Turkey has solidified its control over key areas west of the Euphrates, creating a buffer zone along its borders.  Following the capture of Manbij, the SNA crossed the Euphrates River and seized the Tomb of Suleyman Shah, a site of significant historical and cultural importance linked to the Ottoman Empire. The move triggered an outrcy from the SDF, raising concerns that the front would move towards the heavily populated city of Kobane.  Turkey has long regarded the SDF as an affiliate of the Kurdistan Workers’ Party (PKK), despite its rebranding and its partnership