⇑ $ € £ ¥ ⇓
I will be brief, as many experts are flooding the internet with dire reports about markets, investments, national currencies, and economic models. These are dire symptoms from a unstable international economy with mountains of odious debt.
I simply wish to state a few observations and ask you to remain alert and prepared.
America and the rest of the world are in recession (some would call it a depression).
Phoenix Capital Research reported:
Labor Market Conditions, Industrial Production, the Dallas Fed Workweek, Commercial and Industrial Loan Delinquencies, Corporate Debt Levels, and Inventory Accumulation are ALL in recessionary territory.
The British GBP and China’s RMB national currencies are under pressure.
China made a large devaluation with more expected.
“Responding to the plunge in offshore Yuan since the Brexit vote (down 7 handles to 5-month lows over 6.65), PBOC devalued Yuan fix by 0.9% (6 handles) – the most since the August crash – to Dec 2010 lows. Finally, we note USD liquidity pressures building as EUR-USD basis swaps plunge.”
I expect some major corporations will announce bankruptcy/insolvency.
I expect some-time-soon the mass media will start the reports about a currency/trade war, and deploy the blame game propaganda.
As I edit this report my Internet search revealed central bank of Israel and Korea times already talking about currency war:
Bank of Israel Chief: Currency War Taking Irreversible Toll on Business
Isn’t that the recipe for military intervention or justification for war?