Stefan Gleason: Trade War with China Could Tank Dollar, Send Inflation Skyrocketing (Podcast)
BY MONEY METALS
THEDAILYCOIN.ORG
MARCH 24, 2018
Coming up we’ll hear part two of an interview with Money Metals president Stefan Gleason during a recent 360 Gold Summit. Stefan gives some important warnings to precious metals investors, discusses why he favors one of the precious metals over the others and also talks about some really important things to consider when selecting a precious metals dealer. Don’t miss the fantastic conclusion of Stefan’s interview, coming up after this week’s market update.
Downside volatility in the stock market sent investors fleeing for safe havens this week. The Dow got rattled to the tune of nearly 1,000 points as fears of global trade wars sparked heavy selling in technology shares and industrials.
The selling came largely in response to President Donald Trump’s announcement Thursday of new tariffs on Chinese products. The tariffs will target China’s technology industry and could total an estimated $60 billion.
Some investors fear geopolitical tensions between the two powers will escalate. Chinese President Xi Jinping has increasingly positioned himself as a strongman ruler, culminating in a recent move to make himself president for life. He may now feel inclined to align himself more closely with Iran, Russia, and other U.S. adversaries.
China and Russia have already formed a partnership to bypass the U.S. dollar in oil and commodity transactions. Regional trading alliances that side-step the dollar are expanding.
The other big fear among investors is that the tariffs will spark retaliation against U.S. producers and begin to undo the comparative advantage gains of globalization.
Obviously, globalization has its downsides, too. Over the years, it has resulted in wider trade deficits, the offshoring of U.S. manufacturing jobs, and the depression of wages for blue collar workers. The U.S. has become reliant on low-cost manufacturing from overseas.
The Rest…HERE
