Turkmenistan Devalues its Currency by 18% – Start of the Deflationary Contagion
Turkmenistan, the former Soviet republic, devalued its currency against the US dollar by 18% for the new year. Turkmenistan is energy-rich and this is the latest sign of seriousness of the collapse in oil. This will contribute to now force the dollar higher as commodities decline, the energy producing nations will be compelled to devalue their currencies in an effort to try to make ends-meet. Devaluations will result in an attempt to create inflation to offset the deflation. We are in a major economic collapse on a global scale. Most people do not understand that this is the real threat we face.
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