“‘There are going to be consequences to central bank balance sheet expansion all over the world,’ Kyle Bass tells Steven Drobny in his new book, The New House of Money, adding ‘It’s a beggar-thy-neighbor policy, but everyone is beggaring thy neighbor.’ The Texan remains concerned at QE’s effects on wealth inequality and worries that ‘at some point this is going to ignite and set cost pressures off.’ While Gold-in-JPY is his recommended trade for non-clients, his hugely convex trades on Japan’s eventual collapse remain as he explains the endgame for his thesis, ‘won’t buy back until JPY is at 350,’ and fears ‘the logical conclusion is war.'”
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