David Brady: Gold, the yuan, devaluation, and crash
Dear Friend of GATA and Gold:
Now that China is rigging the gold market, tying the gold price and the value of the International Monetary Fund's Special Drawing Rights to the value of the Chinese yuan, money manager David Brady speculates today on gold's course under a sharp, single devaluation of the yuan and under the yuan's continued gradual devaluation.
A single, sharp devaluation of the yuan, Brady believes, would send gold soaring.
Brady's analysis is headlined "Gold, CNY, Devaulation, and Crash" and it's posted at Sprott Money here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.