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If you blinked, you might have missed it.
But man, I still can't believe it.
For a brief moment today, China's currency traded at its highest level against the dollar. Ever.
At least ....the highest since the launch of the modern Chinese currency trading system that made the Yuan a currency to watch back in 1994.
Now a currency to fear in 2012.
Here's why. China's drawing investors.
We are not.
Anything China is big.
Anything us...is not.
Without getting into the intricacies of global trading, suffice it to say...we've been traded.
The world is increasingly cashing out of us, and cashing in on someone else.
China. Not all the time. But increasingly enough of the time that you have to wonder if it's more than just a little different this time.
After all, when traders are buying Yuan, they're also selling dollars...
Placing bets on a country they think is a good investment, and more and more...effectively selling a country they think isn't such a good investment.
Really not a surprise when you consider all the debt we're piling on, that investors are heading out.
Not a surprise when you consider a federal reserve that has forced interest rates to zero that buyers show zero interest in buying our currency.
That's not to say we're still not a draw.
Just that we're increasingly not as much of a draw.
We have to share that drawing power now.
It hurts when economists warn about such things.
It really hurts when you actually see such things.
Gone are the days folks talked behind America’s back...that its best days were behind it.
Now they're investing on it. And actually making money off of it.
That's what happens when you pile up debt.
You pile up folks who think...you're a joke.