The Chinese yuan tumbled to a three-week low against the U.S. dollar today (Monday), and that's having a ripple effect throughout global markets.
China's central bank cut reserve requirements for most major banks today in a move aimed at boosting growth in the world's second-largest economy.
The Chinese yuan tumbled to a three-week low against the U.S. dollar today (Monday), and that's having a ripple effect throughout global markets.
China's central bank cut reserve requirements for most major banks today in a move aimed at boosting growth in the world's second-largest economy.
Here's what that means for you and your money...
Mainstream economists and media pundits have been telling people that problems in China are unlikely to cause serious problems in the United States. They point to the fact that China only accounts for a small percentage of U.S. trade, for example, and that the falling Chinese stock market has very little to do with our stock market.
And at the very heart of that instability lies the yuan.
Provincial government officials in northeastern China admitted yesterday that they have been falsifying economic data over the past few years.
Some folks are wondering if we should brace for another market meltdown.
But one seasoned analyst has a very different take on the Red Dragon's news...
It's over...
On Monday, the Chinese yuan gained official approval to join one of the most elite clubs on the planet: the International Monetary Fund's Special Drawing Rights basket of reserve currencies.
The consequences of this move will be huge. For the unprepared, this event will ultimately prove devastating.
But even though we've been expecting this move for years now, we have a limited time to get maximum upside from this development.
So let's move quickly... Full Story
China fired a shot heard 'round the world Aug. 11, stoking fears of what could become the ugliest of all currency wars. In a surprise move, the country massively devalued the yuan 2% - its biggest one-day devaluation in 20 years.
China's yuan devaluation will have more than just that immediate impact - it gives the country unprecedented, long-term control over the U.S. dollar.
Here's how China has managed to place the U.S. dollar on puppet strings...
Chinese currency has two names: the renminbi (RMB) and the yuan. The two are oft confused and used interchangeably. And this misunderstanding has amped up as of late...
You see, unprecedented action from China's central bank this week caused the biggest drop in Chinese currency in decades - and counting.
The move is all over financial news and noticeably sparked disparate "renminbi vs. yuan" use in headlines.
So now is a great time to take a look at exactly what is the difference between yuan and renminbi...
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...
The Chinese government made the surprise decision today (Tuesday) to devalue the Chinese yuan. It's an action that could have dire consequences to the U.S. economy.
Today's move was the largest devaluation in the Chinese yuan's history. The yuan's value was cut almost 1.9% against the U.S. dollar.
Here's why that could have disastrous results in the United States...
The Chinese central bank would never admit it, but China's stock market crash surely weighed on its decision today to devalue the yuan.
The news had an immediate impact, with the yuan falling nearly 2% against the U.S. dollar. It marked the biggest one-day plunge since 1994.
But the timing of the move suggests that China's stock market crash also has played a role.
Here's why China decided the devaluation of the yuan could not wait...
The WTI crude oil price today fell to a six-year low in the wake of China's decision to devalue its yuan this morning.
Although China touts it as a reform measure, the devaluation raises concerns that the nation's government is panicking.
Here's everything you need to know about today's movements...
The U.S. dollar has been the world's de facto reserve currency for almost 90 years.
But this financial dominance may be nearing its end.
In recent years, China's been floating the idea the yuan should take on the dollar's role as the world's reserve currency.
In fact, the Chinese have already negotiated numerous bilateral trade deals that completely bypass it.
And they've even called for efforts to "de-Americanize" the global economy.
Whatever happens, China's economic rise foreshadows increased influence.
It's a trend that not only has serious implications, but also great profit opportunities, if you know what to expect...
China's "ghost cities" present the West with the shocking images of vast urban areas that sit nearly empty.
In a striking report, shown recently on CBS News' "60 Minutes,"there are rows of high-rise apartment buildings, tracts full of suburban American-sized detached homes and imposing government edifices in China's western desert that are empty and utterly devoid of any signs of life.
Their existence has raised more than a few red flags among investors.
To continue reading, please click here...
The yuan will replace the U.S. dollar as the world’s dominant reserve currency. That’s why now’s a good time to invest in the yuan. Read more...
