Countless factors influence the global financial markets, but right now the biggest one is China's yuan devaluation.
Ever since August, when the Chinese central bank shocked the markets with a steep yuan devaluation, the Chinese currency has exerted a powerful - and mostly downward - pull on stocks.
Here's why the yuan carries so much weight - and what will happen next...
Countless factors influence the global financial markets, but right now the biggest one is China's yuan devaluation.
Ever since August, when the Chinese central bank shocked the markets with a steep yuan devaluation, the Chinese currency has exerted a powerful - and mostly downward - pull on stocks.
Here's why the yuan carries so much weight - and what will happen next...
China has long-planned for a yuan reserve currency to undermine the U.S. dollar.
The People's Bank of China (PBOC) made its first move as far back in 1994 - more than 20 years ago.
And the years of planning have paid off. We're only a year away from a yuan reserve currency now.
Here's why this economic shock will send the U.S. economy into a Great Depression...
Peter Schiff, economist, best-selling author, and CEO of Euro Pacific Capital, believes a U.S. dollar crisis is underway.
"The dollar is very overvalued...and the dollar is a bubble," he told Newsmax Prime on Aug. 11. "This dollar bubble is going to burst."
Indeed, two weeks later and Schiff's prediction proved timely. The U.S. dollar index has suffered a fourth-straight loss, and U.S. markets have plummeted in the worst weekly sell-off in four years.
The markets got carried out feet first this morning in early trading that saw the Dow plunge more than 230 points, the S&P 500 shed more than 25 points, and the Nasdaq crater a massive 90 points. Then, as logic and common sense prevailed, the major averages fought their way back in one of the most gut-wrenching days in a long time.
Still, there are a lot of jangled nerves out there, and China is being pilloried for its actions - which is exactly why I wanted to reach out to you today with an explanation of what's really driving this, and how to capitalize on the situation.
China's currency move was absolutely brilliant for two reasons...
