it’s Sunday night and another 10-12″ is coming our way in Leesburg, VA. The Asian markets are opening down 1-1.3% and EVERYONE is focusing on Ukraine. And, well, rightly so. That being said, believe we also need to look over at China. A financial crisis is brewing. The Chinese Yuan crashed last week due to intervention by the Chinese government. Why is this a big deal? The same reason 2007-2008 was a thumping … D E R I V A T I V E S. Leveraged carry trades have been the no brainer trade …that all got spooked last week. The potential losses to the “too big to fail” banks is in the 100’s of billions …
Folks … get ready to rumble …
