Yesterday I told you about the mounting problems for Saudi Arabia and how the pressure is growing on the Kingdom to abandon its currency peg.
Well, the action seems to be heating up. Today the riyal traded outside its band to a four-month low.
Here's what one big, U.S. hedge fund manager had to say...
Hedge-fund manager Zachary Schreiber, chief executive officer of PointState Capital, gave a gloomy warning about the future of the economy of Saudi Arabia, saying it will be “structurally insolvent” in two to three years.
I believe we'll see the riyal blow a lot sooner than that, and it will be a massive trade.
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