I think that Soros has started to take himself a little too seriously. The idea of an International Central Bank managing the fiscal affairs of "all nations" is futuristic at best, and unrealistic at worse. I have stated before that the major shortcomings of the Euro CB's (irreconciliable dichotomy between national and pan European economic interests), in Asia, the problem is ten times more severe. Europe has some degree of homogeneity in economic development between its members (and yet the gaps between Spain and Germany are not bridgeable, IMHO, with a single currency), in Asia the current differences are abyssimal.
Watch Korea, closing on 600 and IMHO, currently a fake move, I see Korea dropping in the next three months at least 15% from here (to 500, and possibly as low as the low 400 (420 or so). |
