From Mr. Merk:
“We don’t think 100 [yen per dollar] is the limit; I think infinity is the limit,” says Merk, who is chief investment officer at Merk Investments, which manages a number of currency funds. “The yen is going to be worthless in a few years.”
(Courtesy of ‘fifht estate“)
Mr. Merk is a currency fund manager. Although he´s ‘betting’ right – short yen and long euro – he has no idea about why that´s right. He talks about safe-haven status and current account balances, but not a word about monetary policy in Japan and the Euro zone!
Merk is being advised by William Poole, former serial dissenter from the St Louis Fed!
http://www.merkfunds.com/about-us/team/william-poole.html
“At Merk, Poole contributes to the economic and monetary policy research and analysis providing valuable insights to the portfolio management team”
Poole, the quintessential monetarist. What has the world of economics come to?
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A worthless yen. Okay.
About 20 years ago, people started to say the dollar would be worthless. Bet if I toss a Ben Franklin on the street, there will be plenty of hustle to pick it up….
You know, I think more and more of these quotes seen the media are just made by people with a position in something. They are short US bonds, so they say the Fed has to raise rates or something like that….