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Tonight Brasil has had its growth for this year estimated at negative 3.5% on the latest IMF figures, Brazil is a net exporter of ore to China much as Australia. The British pound is sinking into the abyss , the UK is going into into panic mode. Most od South America has negative growth forecasts. The Ape in the room is China, the Chinese economy is going backwards so fast i cannot see how the Chinese government will stop a monster of an asset devaluation. It is getting very bad now, i am in contact with a lot of Chinese manufacturers and they are begging me for orders, its never been like this before. Oil is as cheap as at $28 USD a barrel and soon we are going to be flooded with Iranian oil as they can now sell it. So with the driving force of the manufacturing economies {oil} is so dirt cheap and business is falling apart it worries me to the max that manufacturing countries cannot gear up and get out of the mess with oil prices so low.
All I am going to add to this is, Watch Gold, you ain't seen nothing yet, fiat currency is losing its value, Gold is going up. AUD 55 cents, will not be long now.
