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Is China About to Go ‘Scorched Earth’ on the US Dollar?
By Graham Summers / GlobalResearch.ca
China’s currency, the Chinese Yuan, remains pegged to the US Dollar. So when the US Dollar strengthens, the Chinese Yuan strengthens to.
For an economy as rife with garbage debt as China (shadow banking debt is over 200% of GDP), this is a DISASTER.
With that in mind, consider that the US Dollar is now at 99.
Whenever the US Dollar reaches these heights, China fires a warning shot at the Federal Reserve by aggressively devaluing the Yuan.
And this in turn causes a stock market MELTDOWN.
Buckle up, because as I write this Monday morning, China just began to aggressively devalue the Yuan AGAIN.
Over 99% of investors have missed this. They continue to focus on what stocks do in the day to day. But a big move is about to hit the markets.
Gold has picked up that something MAJOR is afoot. It’s exploding higher against EVERY major currency.
Below is Gold’s chart prices in $USD, the Japanese Yen, and the Euro. Gold has BROKEN OUT big time in $USD and Euros. It’s about to do the same in Yen.
Gold has figured it out. SOMETHING MASSIVE IS COMING. And it’s coming from Every. Major. Central. Bank.
Over 99% of investors have missed this. They continue to focus on stocks. They’re missing a once in 30 years event that has begun in the metals markets.
HUGE money will be made from this trend going forward.
Best Regards
Graham Summers
Chief Market Strategist
http://news.goldseek.com/GoldSeek/1477314877.php
More great articles here: http://goldseek.com
It’s coming and SOON !!!