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Seems he leaning towards the Jim Roger's view with China & Soft's.
China has huge fresh water infracture problem which will also need rectifying for future agriculture demand.
A Scot reading Heidegger!! That is unbelievable.
The two most famous quotes from Heidegger (my opinion)
"Only a God can save us"
"When the French start to think they think in German"
Consistently my favorite read of the authors you post. I ask this question to prepare the mind before reading this article. Do we place too much faith in nuclear deterrence?
Hendry was at CS previously, not GS.
It's coming up!
It's coming up!
It's coming up!
It's coming up!
It's coming up!
It's Dare!
it's coming down
it's coming down
it's coming down
it's raining outside,
there's nowhere to hide
she's gone and she took your matress with her. . .
UTTER NONSENSE - - Hendry hass been pissing on Gold since the low 800s...
If anyone understands what he is saying, please translate. I found him difficult ot follow and finally gave up. Could he have said what he needed in fewer words?
There is this, on page 4:
"We worked this out when Lehman failed. In a world dominated by hugely leveraged financial institutions' portfolios, if a Yen asset, say a corporate loan not financed in Yen, falls substantially (20% or more) it adds to the demand for the yen as the borrower now has to borrow even more yen (or sell more of its foreign-denominated assets to buy yen) to cover the loss."
This makes no sense. If I borrow in Yen, and the loan falls 20% in value - I am very happy to pay 20% less in USD to cover that loan. The holder of the loan may be unhappy however.
Am I missing something, or is Hendry just too enamored of his knowledge of German Philosophers to proof read?
There is this, on page 4:
"We worked this out when Lehman failed. In a world dominated by hugely leveraged financial institutions' portfolios, if a Yen asset, say a corporate loan not financed in Yen, falls substantially (20% or more) it adds to the demand for the yen as the borrower now has to borrow even more yen (or sell more of its foreign-denominated assets to buy yen) to cover the loss."
This makes no sense. If I borrow in Yen, and the loan falls 20% in value - I am very happy to pay 20% less in USD to cover that loan. The holder of the loan may be unhappy however.
Am I missing something, or is Hendry just too enamored of his knowledge of German Philosophers to proof read?
The way I read this scenario is that the value of the Yen asset borrowed against falls by 20% in value, the loan amount stays the same (and now is likely underwater).
For several days I have been warning of EURUSD buying support as detected by my indicators, and this has been confirmed by the recent break out.
The proprietary indicators I use can identify trend changes before they occur.
http://stockmarket618.wordpress.com
http://www.zerohedge.com/forum/latest-market-outlook-1
This from the POV that the DJIA:DOW ratio gets to parity at 1000 gold, 1000 djia.
Maybe. Maybe not. If the Fed has truly lost control and the banks and the West in general are kaput, then the Prechter camp and 1000 djia makes sense.
If they've not lost control, they'll be able to create an even larger pool of capital to turn into money and its 10K gold and beyond.
@gmak and @mlange
If Yen asset not financed in YEN falls by 20%,
say Yen asset financed in Euro, and Euro fell by 20%
the guy has to pay more yen to furnish the deficit. hence the argument:)
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