In this week's Off the Cuff podcast, Chris and Mish discuss:
- Syria
- Hard to see an upside to intervention there
- India
- Showing us what a full-blown currency crisis looks like
- Japan, Brazil, the PIIGS…
- In danger of soon following India's lead
This week's Off the Cuff looks at the increasingly unstable geopolitical situation around the world.
The U.S. is rushing towards armed conflict for reasons that still escape the understanding and support of its populace. Chris and Mish can see no upside to an intervention given the facts as we know them. Yet for some reason, the current administration is poking the war stick at Syria and its supporters (Russia, China), and somehow the financial markets appear happy to hear the war drums. Sensical? Not to us…
Meanwhile, India is giving the world a full-monte display of how quickly faith in fiat currency can evaporate. And leadership there is predictably taking increasingly desperate and illogical steps to do something – anything – to reverse the natural market forces at play. One new scheme involves buying gold from the public (after attempts to prevent public sales) and then somehow selling this bullion to outside parties without actually giving up ownership to it. Sensical? Nope…
A quick dial elsewhere on the globe sees similar "hot-money"-induced corrections happening in various stages of development.
by dryam2000