Money And Markets Update - China (Yawn. Or Is That Yuan?)

Let’s head back to China for the umpteenth time.    Anyone following the financial press in the last few days knows that China just devalued its currency.    For the last ten years we have been told time and again that China’s currency would go higher.   Or, that China could not devalue their currency because they would experience capital flight.   Ahem.   All I can say is I told you so.  Over and over and over and over.   China is unfolding exactly as I said it would for the last decade.