None other than Forbes and Reuters are now confirming that China, on April 19th, will start setting the price of Gold on the Shanghai exchange in Yuan. The sources I cited on an earlier post were questionable but this is Reuters and Forbes now so it seems to me that China intends use the physical only exchange in Shanghai to set the price which will marginalize the LBMA and the COMEX..

http://www.forbes.com/sites/kitconews/2016/04/13/chinas-yuan-based-gold-fix-to-include-two-international-banks/#66b1200073b7

http://www.reuters.com/article/china-gold-fix-idUSL3N17G2W4

Yet according to ZH, China has devalued their currency TODAY???

AND that the FED had another emergency meeting on Financial Markets today (2nd Emergency meeting this week).

AND the G20 is meeting in Washington DC this week.

WTF?

http://www.zerohedge.com/news/2016-04-13/following-double-fed-emergency-meetings-china-devalues-yuan-most-3-months

For grins, here is my Chart of UVXY, which looks pathetic unless you notice the double bottom at my lower fork channel. Remember the last time China devalued the Yuan? (hint: Aug 2105 and Jan 2016)

Screenshot 2016-04-13 22.16.46