Crude oil – bought from them

Last December I speculated the Peoples Bank of China (PBOC) would be forced to devalue the Chinese currency (Nov 25/15 – The CNY will be devalued and Dec 10/15 – One and done for PBOC too). I thought they would do a big one time devaluation right before the Federal Reserve’s first rate hike. That way, if things went FUBAR, the Chinese could blame it on …