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Jim Rickards: Prepare for a Chinese maxi-devaluation
10:55p ET Wednesday, July 25, 2018
Dear Friend of GATA and Gold:
Writing at The Daily Reckoning, fund manager and market analyst James G. Rickards says China has no "nuclear option" against the United States by dumping its Treasury bonds, since the Federal Reserve is the buyer of last resort and the U.S. government could freeze the bonds before they were sold.
China's most promising option against the United States, Rickards writes, is a massive devaluation of its currency, the yuan, which probably would prompt a stock-market crash in the U.S.
Rickards' analysis is headlined "Prepare for a Chinese Maxi-Devaluation" and it's posted at The Daily Reckoning here:
... For the remainder of the analysis:
https://dailyreckoning.com/prepare-for-a-chinese-maxi-devaluation/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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