The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.
Wednesday, June 15, 2016
BOJ + Fed Decision: Monkey Hammer China
The Fed's soft dollar decision today combined with the just announced Japan "strong Yen" position, further implodes the China/Japan carry trade, and will lead to accelerated Yen buying...
China FX Reserves (Red) with Yen / Yuan exchange rate...
The U.S. Low Volatility Implosion Fund with Yen / Yuan
New multi-year low for USDJPY
Fast forward to 1 minute...to picture Chinese carry traders caught between dollar and Yen:
