From Jim Rickards, Editor, Currency Wars Alert:
Did the U.S. just double-cross China under the Shanghai Accord? If so, China will act on its own to devalue the Chinese yuan. In that case, the Dow Jones Industrial Average could plunge to 16,450, and the S&P 500 could plunge to 1,925 in a matter of weeks, wiping out trillions of dollars of investor wealth.
This is not guesswork. Plunges of over 10% in U.S. stock indices happened twice in the past year. Both times it was because of a combination of a stronger dollar and weaker yuan. It’s happening again. And you need to understand the dynamics both to avoid losses and reap big gains by positioning ahead of the meltdown.
At The Great Wall of China in 1991. This visit was not long after the Tiananmen Square Massacre of June 4, 1989. Few Americans visited China at the time.