by Dave Gonigam
Daily Reckoning
Seven weeks on, the “Shanghai Accord” thesis is looking stronger than ever. And it could mean up to 276% gains before year-end. Just for starters.
Back on Feb. 26, finance ministers and central bankers from the “G-20” nations gathered in Shanghai.
The “Shanghai Snoozer” we called it, because it made absolutely no news, despite pleas from the International Monetary Fund for “bold multilateral actions to boost growth and contain risk.”
But a month later, Jim Rickards informed us of a “secret side meeting” involving the United States, Europe, Japan, China — representing more than 70% of the global economy — brokered by the IMF.