"Magic" Collateral: A Frank Look At The Sheer Credit Horror About To Be Unleashed In China
It’ll likely unleash another wave of short-term currency distortion favoring the dollar, seriously. I’ve been watching this stuff since late 2007 and this will make the fourth time. Flight to safety, part of the reason why Nikkei has done so poorly very recently, they don’t want a strong Yen but are getting a strong Yen, which weighs negatively upon exports.