Today the value of the US dollar plunged against other currencies as China, it is rumored, is about to back off from purchasing US debt.
What must be understood, is the US dollar is simply a unit of the debt. Therefore you can expect the dollars value to fall as the demand for US debt also falls.
At the time I am writing this article, most cryptocurrency‘s are higher on this news, and so are precious metals and crude oil.
If it is confirmed that China will indeed not be purchasing US debt, you can be sure that other countries will follow, and this is very US dollar negative.
Gregory Mannarino, "The Robin Hood Of Wall Street."
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