China has devalued currency now for second time in two days — a clear act of desperation for Beijing.
Reuters ominously headlined that China’s “devaluation had sparked fears of a global currency war and accusations that Beijing was unfairly supporting its exporters.”
Global markets are trembling at what the Chinese are doing.
Not everybody is surprised. The Financial Intelligence Report has been warning of this happening for some time.
In fact, it was inevitable.
Some time ago we first publicized the former CIA adviser whose book was warning investors of China’s coming currency meltdown. He said it would trigger a global currency war.
More about this CIA adviser in a minute.
Savvy investors know what the grave implications of this devaluation are for the global economy.
First, it underscores what some top experts have been warning — including our Braintrust at the Financial Intelligence Report:
China's speculative bubble is about to burst.
Earlier this summer, within a matter of days over $3 trillion was wiped off the Chinese stock markets.
This was a bigger meltdown than the NASDAQ collapse when the dotcom bubble burst in 1999 and 2000!
At the time we warned that these were the first major tremors of a much larger earthquake.
The devaluation is another indicator of massive problems ahead — for China and the world.
Wise investors know the implications of China’s actions:
First, by lowering the value of their own currency in past days, Beijing is admitting to the world that the “hype” of the China growth story has been nothing more than a Potemkin Village.
Second, the monetary devaluation proves that China’s economy is in dire straits, much more serious than has been admitted.
Their factories are slowing down and their new, gleaming cities remain uninhabited — they are desperate to boost exports!
Third, China’s action will cause a global currency war.
The only way countries can protect their own exports from China's unilateral devaluation is by devaluing their own currencies.
This will spark a daisywheel effect, leading to more inflation, more economic stagnation, and total currency disruption.
The amazing thing is that China's actions were predicted in a best-selling book by James Rickards called “Currency Wars: The Making of the Next Global Crisis.”
Rickards, a former Pentagon and CIA adviser who probed the implications of the 9/11 calamity on the U.S. economy, has argued that the 2007-2008 crisis will look like child’s play compared to the coming global currency meltdown.
In “Currency Wars,” Rickards argues that currency wars have happened before, twice in the last century alone, and they always end badly.
Time and again, paper currencies have collapsed, assets have been frozen, gold has been confiscated, and capital controls have been imposed.
He says the next crash is overdue.
Recent headlines about the debasement of the dollar, bailouts in Greece and Ireland, and the Chinese devaluation are all indicators of the growing threat to economic stability.
Amazingly, Rickards, when he first published his book, revealed a deep suspicion he had about China.
He said China was secretly stockpiling gold. He had no direct proof that they were, he simply put together the disparate intelligence that indicated China was hoarding gold.
Rickards argued that China realized a major devaluation globally would take place, and they were going to protect themselves by stockpiling gold.
Well, just last month, the Chinese Central bank revealed for the first time that since 2009 it had indeed secretly stockpiled gold and increased their gold reserves in the past three years by 57 percent!
It is important to remember that these numbers are what China admits to — and that experts believe they have stockpiled much, much more gold.
They knew a currency meltdown was in the works — and they would switch the ignition on!
Rickards says the U.S. also knows what is coming and has taken the wrong approach.
The Federal Reserve has engaged in the greatest gamble in the history of finance, a sustained effort to stimulate the economy by printing money on a trillion-dollar scale.
The Financial Intelligence Report, like Rickards, has been warning of the coming currency meltdown.
The Financial Intelligence Report gave clear warnings to investors starting in 2006 about the impending liquidity crisis and subprime collapse.
Again, the Financial Intelligence Report predicted the market come back after the 2007-08 collapse.
And now the Financial Intelligence Report is warning investors that the market bull is over.
China is the biggest canary in the mineshaft ever. That canary is now dying.
The Financial Intelligence Report has an impressive track record of not only predicting macro-economic trends, but of helping navigating investors through these murky waters.
Since inception, the Financial Intelligence Report’s model portfolio is up 121% over the S&P for the same period.
Billionaire investor Jim Rogers, the Wall Street legend who co-founded the Quantum Fund, says he turns to the Financial Intelligence Report each month to get real information you just won't find anywhere else.
Rogers recently told the Financial Intelligence Report that he sees a major stock market crash coming, a “correction” he says will be the largest value drop “ever recorded in human history.”
We want you to be prepared — and to tap into the power of the Financial Intelligence Report with no risk.
We are offering you a free copy of James Rickards bestseller “Currency Wars” — a value of $29 for FREE with our offer.
You can get your free copy of “Currency Wars” by Going Here Now.
You will be stunned about how uncanny James Rickards’ predictions have been.
And you will find extremely useful Financial Intelligence Report’s special reports and Rickards’ own advice on how to profit during the coming meltdown.
The indicators are very clear and they are pointing all in the same direction.
Now is the time to take steps to protect your wealth before the coming meltdown, before it’s too late.
PS. James Rickards’ book was a #1 bestseller after we told investors to get it. If you have not gotten this book and the Financial Intelligence Report’s special bonus reports about profiting from the currency war that has just started — you need to. We believe you'll find this so valuable, were willing to offer it to you with our FREE Offer —
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