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  • Currency Wars Back in Full Swing

  • On Monday it was revealed that China devalued their yuan currency a record 1.9%, bolstering

  • their export industry which had been faltering recently, in part due to their currency's

  • strength. Exports fell 8.3% year over year in July, though only down 0.9% in yuan terms.

  • The yuan fell in trading the most in a day since 1994 after the news. Though the People's

  • Bank of China called this a one-time adjustment, but on Wednesday morning in China the PBOC

  • devalued again and by 1.6%. The currency continued to plunge. Thursday we learned that the country's

  • central bank had pushed their currency lower for an unprecedented 3 days in a row at 4.4%.

  • The IMF welcomed China's devaluation as it said it is moving toward letting free market

  • forces determine the currency's value.

  • Rather than watch their wealth get frittered away, middle and upper class Chinese will

  • probably throw their money into housing and other asset trophies into US, Canada, Australia

  • and New Zealand.

  • It's just a matter of time before we see the Federal Reserve respond overtly or covertly

  • to start more QE programs or declare a new depression as a reason to keep interest rates

  • at zero or even turn them negative as Andy Hoffman is anticipating.

  • John Kerry, our Secretary of State has actually come out and said that the US Dollar could

  • cease to be the world reserve currency, in fact he said this is already 'bubbling out

  • there,' for example if the US doesn't pass the Iran Nuclear deal.

  • Finally, it seems after their offical gold holdings update in June which increased their

  • holdings about 60% to 1,658 tons, they've updated their holdings in July already by

  • 1.5%. As TFMetals Reports, the Bank of China will update monthly on holdings; perhaps we'll

  • see this steady increase month to month which could lead to the IMF's inclusion of the yuan

  • in the SDR basket which has seems to have been delayed 9 months now until September

  • 2016.

  • US Markets Show Weakness

  • The US Markets are showing obvious signs of weakness the past few weeks, months and a

  • little through this whole year.

  • After a strong showing up 240 points Monday, the Dow lost nearly all gains Tuesday. Wednesday

  • we saw bizarre behavior again with the close being only a third of a point off of Tuesday's

  • close, that's crazy.

  • Furthermore, Tuesday's levels were just 0.6% away from a new 2015 LOW. Business news sites

  • are also calling this the death cross in the charts as the 50 day moving average moves

  • below the 200 day moving average for the first time since December 2011. Thursday the Dow

  • closed just over 5 points up. The S&P Closed slightly down.

  • The Dollar index has lost 1.5% week over week and is down month over month as well at an

  • 8-week low of 96.32.

  • Asymmetric Warfare?

  • We should all remember the NYSE shutdown weeks ago as well as American websites hacked. Wednesday

  • an explosion rocked a large Chinese port city, killing at least 50 people. This came after

  • China's currency devaluation. Have the financial system attacks between East and West now turned

  • into actual warfare, or was this just an accident?

  • Tianjin, the victimized city is China's third largest with an urban population of 11 million.

  • Precious Metals & Commodities

  • Gold and Silver recently have finally recovered. Gold up over 2% to $1,115 and silver up over

  • 4% to $15.40. Palladium gained over 2% to $615 per ounce, but still way down for the

  • month and the past year just like Platinum which reached $990, up over 3%.

  • Oil has not moved too much since our last report. WTI price is down 57 cents a barrel

  • while Brent is actually up nearly a dollar. News is saying however that WTI actually broke

  • under $42; a new over 6-year low.

  • SRS Rocco is reporting that another 1 million ounces has been pulled from the COMEX, we

  • can confidently say now that a silver shortage is likely within the next 2 to 5 years.

  • The price of copper is down over 11% month over month and 28% year over year; another

  • point on the map showing the world economy is in a severe depression. Perhaps the currency

  • devaluations are meant to prop up commodities from their death spiral?

  • Bitcoin

  • Bringing a new meaning to earlier discussed currency wars, the EFF, Electronic Frontier

  • Foundation, has put out an article explaining how California's newly proposed bitcoin license

  • law would stifle innovation. We should support this effort, and not let California be the

  • next New York that strangles digital currency innovation while it's just an infant.

  • College Bubble 2.0

  • After significant research into the student loan bubble, we released a sequel to last

  • year's documentary, click here now to watch 'The College Bubble 2.0' one of ours and Future

  • Money Trends' most professional videos to date. College attendance fell over 2% last

  • year alone, almost as much as the government increased Pell Grant funding due to rising

  • tuition rates. Student debt has now reached an incredible $1.4 Trillion, up well over

  • 1% year over year.

Currency Wars Back in Full Swing

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貨幣戰爭轉為真正的戰爭?#CTSECN @CrushTheStreet (Currency Wars Turning to Real Warfare? #CTSECN @CrushTheStreet)

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    haha 發佈於 2021 年 01 月 14 日
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