We Have Met the Enemy and He is not US

Or the Once Almighty Dollar or Pound – Free the Yuan!

HH HMS Eclectica CIO (Chief Investment Officer) recently caught our eye as guest CIO (Chief Information Officer) on British CNBC.

http://www.cnbc.com/id/15840232?video=1297057096&play=1

(Now we may know why those BBC cookies keep showing up when we access CNBC overnight. Or are they MI? At the least, they could subscribe for consultation, instead of eavesdropping.)

Among the interesting things Mr Hugh Hendry said, is that the Renminbi Yuan at 7 to the dollar is pegged much too low, after previously trading some 8-plus times higher.

Bilderberger George Soros echoed similar sentiments today speaking at a Rothschild Economist event at the New York Stock Exchange, saying current renminbi yuan US Dollar currency arrangements are fraught with danger, having last year described US Banks as basically insolvent.

Hungarian Quantum Fund Jim Rogers partner, Reflexivity author and openDemocracy.net MoveOn.org philanthropist Mr George Soros is, of course, noted for breaking the Pound for a bit of a Billion at the Bank of England.

He added rather understatedly, that the world economy is bound to be flat and in China there is something of an asset bubble.

http://www.cnbc.com/id/33337081/site/14081545/for/cnbc/

GS, whose initials echo Goldman Sachs, is not alone in his bearishness.

Ambrose Evans Pritchard reports Sir Howard Davies, the former head of the British Financial Services Agency, now head of the London School of Economics where GS and JFK studied, told Hong Kong Shanghai Bank The next six months are going to be extremely delicate in the UK.

Pages: 1 2

This entry was posted on Friday, October 16th, 2009 at 2:38 pm and is filed under Money doctor and Counselor. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.