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Is China About to Go “Scorched Earth” on the US Dollar?


 -- Published: Monday, 24 October 2016 | Print  | Disqus 

By Graham Summers

 

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.

 

http://goldseek.com/news/2016/10-24gs/image002.jpg

 

Whenever the US Dollar reaches these heights, China fires a warning shot at the Federal Reserve by aggressively devaluing the Yuan.

 

http://goldseek.com/news/2016/10-24gs/image004.png

 

And this in turn causes a stock market MELTDOWN.

 

http://goldseek.com/news/2016/10-24gs/image006.png

 

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.

 

http://goldseek.com/news/2016/10-24gs/image008.jpg

 

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

Phoenix Capital Research

 


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 -- Published: Monday, 24 October 2016 | E-Mail  | Print  | Source: GoldSeek.com

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