Steve: If it's in several reports, it's probably spin (g)
Asians don't have nearly as much money to put anywhere tonight compared with a few weeks ago. Those that do have some left, probably are trying to decide where it might be safe, and some will no doubt send their remaining capital to our side of the pond. It will not be consequential, given the amount that has already evaporated.
With respect to Japan making a bundle, this is inaccurate. One doesn't make money when one's currency depreciates, one loses buying power. Additionally, you can bet your last memory chip that Japan would happily convert those treasuries for yen at the drop of a hat if they are given a chance, or can do it on the sly. Too many of them around the world, and Al Greenspan is the only buyer.
Glad to hear that you have put options, as this gathering storm is going to give most of our population a true Excedrin headache in the near term.
Best, Earlie |
