Hello everybody its Lynette the chief market analyst here at itm trading and i know i did one of these yesterday but today some very important news came across my desk so we’re doing another one and that is that China dilute the dollar in there trade-weighted basket. it’s actually even more than that they have a basket of currencies like every country does so not only have they reduced the prominence in the basket of the US dollar but also any currencies that are pegged to the dollar their standard waited basket has been 13 currencies now on the first of January all of this happens on January first or December 31st @midnight take your pick but on that same day that weighted basket will move from 13 currencies to use me I have to keep 224 currencies most of those in the emerging markets which remember on December

31st i’m going to move this in so you can see it but on the thirty-first of December @midnight the SDR which is the money of the IMF the influence of the emerging markets will be such that they will have the ability to to take the dollar out as the world reserve currency so which right now values everything in dollars to the SDR that’s a huge shift and how did gold react to this announcement well there you go that’s just a one-day on gold and in Chinese currencies so there is a big event that is coming up on December 31st at midnight and i believe that all these d monetization we’ve been watching and three monetization hands and now with China changing their basket my personal opinion is that this is all in support of the major shift that’s going to occur in a couple of days you will not likely notice the shift it’s all about positioning so sorry to bring that news to you but happy new year be safe out there and until next year will see