China Just Turned the Currency War Nuclear [Video]

currencyGreg Hunter – Financial writer Andy Hoffman wrote an article titled “Upcoming, Cataclysmic, financial Big Bang to End all Big Bangs,” and the very next day, China devalues its currency by a massive amount. What’s going on? Hoffman says, “A year from now, we are going to be 5% lower (on the yuan) not 2%. So, already the market is bidding down the yuan in what I believe must happen. For all the talk about bubbles here, the NASDAQ bubble, the debt bubble, the housing bubble, bubbles we see in Europe, the bubbles we see in Japan and, frankly, nothing even compares to China’s bubble both economically and financially because of what their communist government has wrought onto them. I think there are going to be further steps for China to devalue as their economy falls apart.”

[youtube=https://youtu.be/sTvczO4Bo60]

So, if China is devaluing its currency, does that means everybody else will eventually follow? Hoffman says you bet and says this is why there is the huge demand for physical precious metals and goes on to explain, “because it’s real money people are flocking into. They sense the fear between Greece, Brazil, China, Japan and now our economy that everyone is going to competitively devalue. The Fed raising rates, of course not. They are going to be doing QE4 and negative interest rates. The White House has been saying this year that the strong dollar is killing us, and there is an election next year. The earnings of the S&P are down this year and the economy is falling apart. The strong dollar kills corporate earnings and kills competitiveness. So, the Fed is going to keep weakening the currency. They will do a QE4 . . . sooner rather than later. Everyone knows it is real money you need to own, not this paper stuff as we are going into the final currency war.” Continue reading