The currency harvest fund is long high yielding currencies ($CAD, $AUD) and short low-yielding currencies (Euro, $, JPY):
Tomorrow, the League of Extraordinary money printers meets in Jackson Hole Wyoming to calibrate the correct amount of printed money to give the ongoing delusion of a solvent Globalized economy. For eight years straight, they've papered over insolvency using trillions in new liquidity, never once acknowledging the fact that a borrowed recovery implies that liabilities have risen lockstep with assets. The former being contractually fixed, the latter being solely dependent upon what the next dunce will pay. In other words the rate at which this cheap tent will collapse will be staggering to say the least, as asset values plunge below the noose line of inflated liabilities...
Here we see the global Dow (gray) with the rate of change in CB assets versus $USDJPY. The last time that global risk sentiment was rolling over at this rate, CB assets were expanding at their fastest rate ever. Right now, the rate of change is falling. Meaning that Alibaba gamblers are skydiving without a parachute. And for those who must believe in the plunge protection team, this single graphic should clear up that fairy tale once and for all, circa 2008 and 2011:
In the meantime, Skynet has been forcing in short-covering all week into tomorrow's circle jerk. However, it's not working as well as it used to, featuring gap up opens and closing on the lows...
