I am of the opinion that when one reaches a certain age they should excuse themselves from public life.
She’s too old and needs to retire, she’s got that classic government touch—everything she comes in contact with turns to ash. Will she even be around to face the dire consequences of her misguided actions?
Aside from inflaming geopolitical tensions, her visit has had another destructive effect…
The implosion of the Taiwan Dollar.
According to sources, the Taiwan Dollar has seen an implosion in price directly ahead of Pelosi’s visit. Markets are voting and weighing mechanisms and the vote is in—Pelosi’s visit doesn’t bode well for the small South Pacific nation.
Here’s what everyone is saying:
🌏 #Asia Factory Activity Tumbles on Supply, Weaker Demand – Bloomberg
🇰🇷 🇹🇼 #Korea, #Taiwan PMIs fell as China’s gauge slipped
*The Taiwan dollar fell to the key psychological level of 30 per the greenback for the first time in more than two years.
*Link: https://t.co/oJrwhgz3rH pic.twitter.com/35YIshvmTx
— Christophe Barraud🛢🐳 (@C_Barraud) August 1, 2022
TAIWAN DOLLAR AT A NEW LOW NOT SEEN SINCE COVID. pic.twitter.com/gbyhicsz95
— Gurgavin (@gurgavin) August 1, 2022
Markets Insider had more on the story:
The currency dropped Sunday as much as 0.2%, with sentiment turning lower due to heightened geopolitical tensions between China and the US.
Taiwan’s currency may be weighed down as the market prices in Pelosi’s potential visit to the Southeast Asian island, which China sees as part of its territory.
The audacity of arrogance. She really thinks her presence in Taiwan is worth the risk of further fallout with China. 🙄 https://t.co/I2WXt4CNw8
— Charlie Oliver (@itscomplicated) August 1, 2022
BREAKING: Pelosi seen flying over Taiwan. Stunning footage. pic.twitter.com/NXQEBscUqE
— Fianna-Funky (@Fianna05) July 31, 2022
Bloomberg echoed Markets Insider:
“There may be some political risk priced into the Taiwan dollar due to Pelosi’s visit to Asia,” said Khoon Goh head of Asia research at Australia & New Zealand Banking Group.
“This is the main reason why the Taiwan dollar has underperformed in the region despite the greenback being weaker,” he said.