vrudny, I don’t have the confidence in the renminbi that you have. China’s banks have hidden very effectively a huge amount of bad debt. They are overbuilt, and soon, their factories will sit idle. Then what happens to the banks? I am more worried about the yen than the US dollar. I do not want to buy yen, preferring the currency of a stable established economy, like swiss franc or euro.
Also, does anyone have any idea why Roubini would call gold a “barbaric relic”? I asked him, so maybe he will answer.
