Kyle Bass On Japan & The Changes In Global QE | The Future Tense

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Wednesday, October 22, 2014

Kyle Bass On Japan & The Changes In Global QE

On Japan:

How global QE policy changes will impact currency markets and U.S. stocks:

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Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.

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Illusions commend themselves to us because they save us pain and allow us to enjoy pleasure instead. We must therefore accept it without complaint when they sometimes collide with a bit of reality against which they are dashed to pieces.

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"At this juncture, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained."

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There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.

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Requiring a central bank to print money to increase government's purchasing power invariably ignites a hyperinflationary firestorm. The result through history has been toppled governments and severe threats to societal stability.

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"Men it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."

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"Give me control of a nations money supply, and I care not who makes it's laws."

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