Stop The Madness...

October 29, 2018
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…Peter Schiff

He recently tweeted out this piece of non-sense on China’s Financial Nuclear option:

Victory plan for #China: 1. Dump all U.S. Treasuries. 2. Use proceeds to buy gold. 3. Peg yuan to gold rather than dollar. 4. End all future dollar purchases. Results: dollar collapses, yuan soars. GDP explodes in China, implodes in U.S. China becomes world’s largest economy!

Cooler and smarter heads prevailed. Dan Lacalle saw this and immediately penned his response. Here are the cliff notes:

  1. China owns just 6.8% of US Treasuries. Even if they sold all it would be absorbed in days by market.
  2. China’s entire gold holdings are less than 0.2% and would be less than 1% of money supply.
  3. Currently, the Yuan is used in less than 4% of global transactions.

As I have said, beware of free opinions and scare rhetoric.


Stay Tuned, Disciplined & Patient! {TJM}

The Investor & Character Equation (ICE) | S + R = O


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