The dollar plagued world now has another currency to worry about
“While investors have been focused on a strengthening U.S. dollar and rising Treasury yields, a weaker Chinese yuan also threatens to heap pressure on emerging market assets that have already wiped out their gains for the year.”
MK note: Given the increasing frequency and severity of these international currency imbroglios, it is not difficult to visualize more and more nation states following the China’s example of national gold acquisitions. One recalls Charles DeGaulle’s famous criterion speech on gold in this context. Though such a holding would not cure internal problems derived from excessive debt and the debasement of their own currencies, it would offer something of a shield to the devaluation/revaluation policies of other nation states.