Loading ...Turkey’s currency continues its weakening trend, as the fiat goes the route of Venezuelan Bolivar, pushing the Lira another 3% lower as their inflation increases in double digits causing financial calamity within its borders . Another “Emerging Market” in failure is Tunisia with its accumulated foreign debt and its currency, the Dinar collapsing as well. How many more of “emerging markets” have to fail before the world catches on to the fact the fiat game has reached its conclusions?
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IPSO–the U.S.–Europe—and China seem impervious to this developing EM crisis–but will it be the catalyst for a fall collapse like in 2008? Any one got any 100 year bonds?
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Emerging markets/G7 FX volatility ratio just hit its all-time record high – higher even than 2008 and the global financial crisis. Could there be a much larger storm brewing just not in Argentina?
And finally, just in case you forgot, Argentina (the most-defaulting nation in world history) issued a 100-year bond last year (and it was over-subscribed). Things are not going so well for those ‘reaching’ for that yield…
