Monday, March 28, 2016

Did the world declare war on the dollar at the G20 summit?

On March 24, economist Jim Rickards published an interesting analysis of something that may have taken place last month at the G20 Summit in Shanghai, China.  According to evidence that Rickards and others pieced together, a secret conclave occurred between members tied to the IMF’s SDR basket of currencies, and appears to have ordered a hit on the dollar to devalue it at a time when the global economy is falling fast into heavy recession.
And judging by the dollar chart from February 26 (time of the summit) to one month later, something has occurred which has caused the dollar to experience its biggest decline since the middle of last year.
dollar chart


Post a Comment