This is an interesting development.

One thing that has been talked about quite a bit is a potential “race to the bottom” of currency devaluations.

Simon Heapes of Anglo Far-East has said numerous times that the “symphony of inflation” would ultimately end up in a race to the bottom.

Uncanny how accurate that guy has been over time.

If we see this unfold, we are looking at a failure of fiat…which means real disciplined money (gold and silver) will revalue to equal the amount of currency created.

Since I own gold and silver, I sure wouldnt mind the wealth transfer!

1930s beggar-thy-neighbour fears as China devalues

China has begun to devalue the yuan for the first time in over a decade, raising fears that it will set off a 1930s-style race to the bottom and tip the global economy into an even deeper slump.

By Ambrose Evans-Pritchard, International Business Editor

Last Updated: 10:39AM GMT 04 Dec

You are an investor in physical metal and like Marty of “Back to the Future II” you have stumbled into a nightmare world of $10.00 and whatever cents silver (you may have bought back when it was $15-$20 and thought you were doing well) wondering how can you change this distorted world to a peaceful “Hill valley” of the movie and a reality of honest pricing.

Biff / Griff Tannen aka the SEC/CFTC (Securities exchange commission and Commodity Futures Trade Commission) should look like this picture of a nice old chap that cleans your car and keeps the house in order. Not unreasonable given its position of watchdog to the markets.

Instead its accusers of late charge it with sitting in a Jacuzzi laughing at all of us who have invested in