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Yesterday:

Wagers that the yuan will slump 10% or more against the dollar are “ridiculous and impossible,” a senior Chinese economic official said Monday, warning that China had a sufficient tool kit to defeat attacks on its currency. “Attempts to sell short the renminbi will not succeed,” said Han Jun, deputy director of the office of the Central Leading Group on Financial and Economic Affairs, at a briefing at the Chinese Consulate in New York.

I suppose he’s probably right. Still, this has an uncomfortable ring of the kind of thing treasury officials tend to say just before a sustained assault on their currency demonstrates that even huge autocracies with lots of foreign reserves aren’t immune to market forces. Stay tuned.

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REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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