China’s government just signaled that the Chinese economy is in major trouble. China’s government ordered banks to sell short the Yuan and buy U.S. dollars. The impact has been dramatic.
As you can see in this chart, the Yuan has plunged as a result. In fact, the Yuan plunged the most EVER.
This huge drop in the Yuan shows that China is freaking out right now and they did this in a desperate bid to boost their export sales (currency devaluation makes Chinese products cheaper on the global market).
We also know that China has overtaken India as the biggest buyer of gold in the world in 2013. It looks more and more like China is prepping for an economic collapse. Even Chinese investors have begun moving money out of China and into things like U.S. real estate in California and even landmarks in New York.