U.S. markets are closed today for Martin Luther King Day… but the rest of the world isn’t stopping and there are urgent developments you need to know about.
Ordinarily, we wouldn’t publish The 5 Min. Forecast today. But this is too important. We won’t take much of your time. Call it The 1 Min. Extra.
As you probably know by now — because we keep reminding you, heh — Jim Rickards anticipates an event he calls “The Great Currency Shock of 2016.” It’ll be the third and biggest such shock in the last year, coming on the heels of China’s devaluation last August and Switzerland’s devaluation in January 2015.
And if you were reading The 5 last week, you know we pulled back the veil a bit on Jim’s forecast. He believes Saudi Arabia — Washington’s great “ally” — will devalue the riyal.
The Saudi Arabian riyal is one of the few currencies on the globe that hasn’t devalued relative to the dollar in the last four years. But crashing oil prices are slashing Saudi government revenue. The ruling family’s 7,000 princes are panicking. Sooner or later, they have to devalue.
Over the weekend, the panic got amped up to extreme levels.
You probably heard the news: The United Nations has given Iran’s nuclear program a clean bill of health. Scads of economic sanctions that have been in place for the last decade or so are being lifted. Now.
“Iran is expected to increase its daily export of 1.1 million barrels of crude oil by 500,000 shortly,” reports the BBC, “and a further 500,000 thereafter.”
Where markets are open, the impact has been huge.
In the Middle East, markets are open Sunday–Thursday… and Saudi Arabia’s stock market tumbled 6% yesterday. Ditto markets in Qatar and Dubai.
Electronic trade in crude oil reopened in Western markets last night. “Brent crude fell as much as 4% on Monday to a 12-year low of $27.67 a barrel,” says the Financial Times, “and extending losses since the start of 2016 to more than 25%.”
The sound you hear in the distance is the Saudi princes screaming that they can’t take the pressure much longer.
That’s what makes Jim Rickards’ exclusive workshop tonight at 7:00 p.m. EST so timely and urgent. He can’t predict the exact moment Saudi Arabia will devalue the riyal — but he can help you brace for impact when that moment arrives.
Even more, he can show you how to seize on this market turmoil for profit. If you act tomorrow morning, you can potentially lock in a gain of 300% or better once the Saudi princes bow to the inevitable and devalue.
Originally we’d planned to make yesterday the last day you could sign up for access to this event. But in light of these new developments, it’s only fair to give you one last chance. Participation in this event tonight at 7:00 p.m. EST is absolutely FREE. Just drop us your email at this link and we’ll save you a spot.
Best regards,
Dave Gonigam
The 5 Min. Forecast
P.S. Look, I was going to take a rare day off with the U.S. stock market being closed today. So you know I wouldn’t be writing you if I didn’t think this was such a big deal.
Only hours from now, Jim Rickards will show you how to prepare for “The Great Currency Shock of 2016” — an event that could come at any time now that sanctions on Iran are being lifted.
The event is at 7:00 p.m. EST tonight. There’s still time to RSVP. But this will be your final reminder. Here’s where to sign up.
