Jim Chanos On Charlie Rose - Full Interview
You have all seen the Chanos interview snippets made available last week. Now watch the full interview by Charlie Rose in which Jim Chanos deconstructs China. Goldman's (make that Jim O'Neill) response: "BRIC BRIC decoupling BRIC baltic dry BRIC Goldman Nepal office BRIC." Chanos destroys the Friedman defense to never short countries with $2 trillion in foreign currency reserves: he points out that the last two countries that had similar foreign currency reserves relative to the size of their economy was Japan in 1989 and the US in 1929. I will let that be the end of that discussion. It has no bearing on whether there is a domestic credit bubble. Countries embark on domestic credit bubbles often tend to accumulate foreign currency reserves." After listening to the full 26 minute interview, we are confident that the Dow will hit 36,000 in anticipation of the Chinese collapse, as the IMF is forced to expand its just amended $550 billion bailout facility to a cool quadrillion.
Below is a full transcript of the interview, courtesy of Bloomberg:
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