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  • Wed, Feb 22, 2017 - 10:41pm

    Luke Moffat

    Luke Moffat

    Status Silver Member (Offline)

    Joined: Jan 25 2014

    Posts: 365

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I think Rickards makes sense if you add a timeframe to each phase.

China is importing gold with an eye towards having a strong currency in the long term.

China is preparing for a devaluation to fix their banking problem – in the short term.


Yep, that was my take on it as well. As to the actual devaluation you're probably right – wait for a disaster to strike elsewhere then announce the 'response'.

Regarding the 'but not here' indication on your chart I suspect all that movement was Brexit related. But I take the point, the correction wasn't as deep as the first two.