According to Bank of Israel’s Stanley Fischer, Former Thesis Advisor to Ben Bernanke at MIT, Financial Crisis and Madoff Fraud are Going Hand and Hand
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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December 23rd, 2008 at 12:23 pm
Something else is bound to be uncovered.
Barry we are getting that second big down leg like the 9/11 chart.