Is China About to Demand the US Dollar Lose Reserve Currency Status?
By: Graham Summers
GoldSeek.com
Thursday, 29 December 2016
The biggest issue in the financial system… the issue that CNBC is completely avoiding… and 99% of professionals are ignoring is the US DOLLAR.
The US Dollar has ripped to 103.
This is a truly MASSIVE problem.
The Chinese Yuan is linked to the US Dollar. With the US Dollar at these levels China has rapidly entered a financial crisis.
In the last month, China has:
1) Burned through over $70 billion defending the Yuan.
2) Had to halt trading in its multi-TRILLION dollar bond market.
3) Had to issue emergency lending to financial firms to keep them afloat.
ALL of these are linked to the US Dollar’s rise. And it’s lead the world to a very nasty situation.
China has a couple different options, NONE of them are pretty for the financial system.
The most obvious one would be a LARGE Yuan devaluation similar to the one that CRASHED stocks in August 2015 or January 2016.
The Rest…HERE