{"id":16284,"date":"2016-01-10T18:07:07","date_gmt":"2016-01-10T23:07:07","guid":{"rendered":"http:\/\/olduvai.ca\/?p=16284"},"modified":"2016-01-10T18:08:19","modified_gmt":"2016-01-10T23:08:19","slug":"this-is-what-gold-does-in-a-currency-crisis-china-edition","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=16284","title":{"rendered":"This Is What Gold Does In A Currency Crisis, China Edition"},"content":{"rendered":"<div class=\"headline_area\">\n<h3 class=\"entry-title\"><a href=\"http:\/\/dollarcollapse.com\/gold\/this-is-what-gold-does-in-a-currency-crisis-china-edition\/\" target=\"_blank\">This Is What Gold Does In A Currency Crisis, China Edition<\/a><\/h3>\n<div class=\"share clear\">As China\u2019s leaders figure out that pegging the yuan to the dollar while quintupling their debt in five years was a colossal mistake, they are, apparently, concluding that the only way out is a sudden, sharp currency devaluation. See\u00a0<a href=\"http:\/\/www.reuters.com\/article\/us-china-markets-yuan-policymakers-idUSKBN0UL24020160107\" target=\"_blank\"><em>Pressure on China central bank for bigger yuan depreciation<\/em><\/a>.<\/div>\n<\/div>\n<div class=\"format_text entry-content\">\n<p>Chinese citizens, meanwhile, are anxiously awaiting tomorrow\u2019s market open while mentally repeating the same three lines:<\/p>\n<p>Sure am glad I bought that gold last year.<\/p>\n<p>Wish I\u2019d bought more gold last year.<\/p>\n<p>Wonder what I\u2019ll have to pay for gold next week\u2026<\/p>\n<p>Here\u2019s what that looks like in graphical form:<\/p>\n<p><a href=\"http:\/\/dollarcollapse.com\/gold\/this-is-what-gold-does-in-a-currency-crisis-china-edition\/attachment\/gold-in-yuan-jan-16\/\" rel=\"attachment wp-att-9249\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-9249\" src=\"http:\/\/dollarcollapse.com\/wp-content\/uploads\/2016\/01\/Gold-in-yuan-Jan-16.jpg\" alt=\"Gold in yuan Jan 16\" width=\"550\" height=\"246\" \/><\/a><\/p>\n<p>If China does spring a 15% devaluation on the already-wound-too-tight leveraged speculating community, the impact should be, well, amusing for sure, but otherwise a little hard to predict. About the only thing that can be said with near-certainty is that the above chart will have to be updated with much higher left and right axes.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>This Is What Gold Does In A Currency Crisis, China Edition As China\u2019s leaders figure out that pegging the yuan to the dollar while quintupling their debt in five years was a colossal mistake, they are, apparently, concluding that the only way out is a sudden, sharp currency devaluation. See\u00a0Pressure on China central bank for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[11608,9021,374,7544,647,1031],"class_list":["post-16284","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china-central-bank","tag-dollarcollapse-com","tag-gold","tag-john-rubino","tag-precious-metals","tag-yuan"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16284"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16284\/revisions"}],"predecessor-version":[{"id":16286,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16284\/revisions\/16286"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}