We focus on China and its currency devaluation
Chris sent us the article which I posted earlier in the day so why not continue to focus on China.Where does this leave investors and what does it say about China?
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Global Markets Turmoil After China Extends Currency War To 2nd Day – Devalues Yuan To 4 Year Lows
08/11/2015
GREAT COMMENTS CHRIS T…..
The currency war myth is a diversion. The real war is between the rich (banksters) and the poor (everybody else).
And Jesus called them to him and said to them, “You know that those who are considered rulers of the Gentiles lord it over them, and their great ones exercise authority over them. But it shall not be so among you. But whoever would be great among you must be your servant, and whoever would be first among you must be slave of all. For even the Son of Man came not to be served but to serve, and to give his life as a ransom for many.” Mark 10:42-45.
isn’t that the truth…………………..
We became poor, because we became ignorant…………
GO and OWE NO MAN………..
I think I heard that in Church last Sunday.
I was wrong. It was last Friday morning:
http://www.usccb.org/bible/readings/080715.cfm
Not the same passage but both are “not to be served but ti serve.”
Good point, Wayne — these wars in part are, of course, instigated and fought by what might loosely be described as “the 1%” to protect their profits and graft.
Chris/Cory:
It is difficult to do a show on a daily basis that maintains a high level of interest. Today, with China’s help, you had a good subject to discuss besides the regular stuff like the conventional markets. I found today well worth listening to and when Chris gets rollin’ he is actually fun to listen to. He connects things in a way many don’t. Thanks for doing the show!
Agreed. Good discussion today Chris & Cory!
Chris Temple – I just wanted to tip my hat to you for your call on Seabridge Gold (SA), up more that 47% since Thursday morning. What a streak this one has been on. I posted some collective thoughts from the blog last week on Doc’s blog today, and wonder if some investors may know something about their financing partner that the rest of the marketplace doesn’t know about. This seems a little exaggerated to just be a short covering rally on Thursday, Friday, Monday, and Today.
Seabridge Gold, Inc. (SA) -NYSE Watchlist
5.76 Up 0.74(14.74%) 4:01PM EDT
Regardless – Good pick Mr. T…….and Al & Cory, thanks for having Rudi Fronk on the weekend show 2 Saturday’s back as you guys were ahead of the curve!
On the BBC this morning a comentator said that 1.9% was the maximum China could devalue in a single day under international agreement – went on to say that the Yuan will probably end up 5% devalued against the USD.
No idea where she got the 5% guesstimate from.
Hmmm, a “limit down” day, then?
Well, after last night, we’re up to 3.5% decline – more to come
I posted on here a couple of weeks back that I think any future QE in the US will be what it should have been originally – aimed at the aging and crumbling US infrastructure.
Spend on roads, railways, bridges, power lines, water infrastructure, ports, airports, etc, etc – if that happens then commodities will soar, jobs will be created for engineers, brickies, carpenters, electricians, etc, etc, and hence you will then get the much looked for inflation.
I think the UK and EU will follow suite.
Bob UK:
Very logical thoughts and could happen. As I read your line: “aimed at the aging and crumbling…….” my mind quickly accelerated to ‘old people’ like myself. Sorry to hear you were talking about bridges and roads….
I think it is also possible they could attempt to enhance people’s spending ability with a ‘check for everybody’.
Your comments are always a sensible read. Thanks for posting.
QE along the lines I mentioned would also allow Obama to have another legacy to claim – his FDR legacy.
Precious Metals Short Squeeze
BY TIHO | AUG 11, 2015
-Hedge funds have cut bullish bets on Gold very swiftly over the last 3 months
-Speculators dramatic reduction in Silver net long contracts is one for the history books
-Short selling contracts in both Gold and Silver have risen to new record highs in recent weeks
https://shortsideoflong.com/2015/08/precious-metals-short-squeeze/
Dollar Correction Coming?
BY TIHO | AUG 10, 2015
-Hedge funds are jumping back into US Dollar, while the price has made a lower high
-Dollar hasn’t fallen below 200 day MA in 12 months, so watch for a mean reversion
https://shortsideoflong.com/2015/08/dollar-correction-coming/
Japan restarts reactor after break due to Fukushima
Associated Press – MARI YAMAGUCHI and ELAINE KURTENBACH
August 11, 2015
https://www.yahoo.com/tech/s/japan-restarts-reactor-break-due-fukushima-014156596.html
It should be an interesting rest of the week in Uranium based on this news.
Mickey Fulp: Reactor Restarts, Uranium Price and Stock Picks
Mercenary Geologist Mickey Fulp discusses the uranium market and lists his three favorite stocks.
I don’t see this as a renewal of a currency war, I don’t think its close to being over.
This is just a Chinese move.
The currency war (Rickards Currency Wars) is one of the main reasons to own gold.
Might even justify an increase in % owned.