Central Banks, Currency Wars and the Communist Manifesto

On today’s episode of Double Down, hosts Max Keiser and Stacy Herbert are joined by Valentin Schmid of the Epoch Times to discuss the big bets and the even bigger warnings of a major yuan devaluation.

China’s currency, the yuan, has been tumbling, and yet, investors are allegedly ‘unperturbed.’ Are these so-called investors right to put their faith in the new openness of the People’s Bank of China in managing the decline? Whilst financial journalists and the investors who read them may be ‘unperturbed,’ Chinese citizens are preparing for a massive devaluation in the yuan and we can see that in the metals markets. Double Down talks to Valentin Schmid of the Epoch Times about the chances for a big devaluation and about the relationship of central banking to the Communist Manifesto.