Mar

22

JPY/USD is at a 40 year high!

So is USD/CHF !!

But then Gold/USD is also at a forty year highs!!! Yet neither of the AUD, the CAD nor the ZAR are at 40 year highs!!

And then the so called Big Growth stories of the world India and China have their INR/USD and CNY/USD about 1/7th and 1/4ths of their 40 year highs currently.

Long live the Long Term Funnymentals!!

Whoever said that markets can be irrational in the short term and hence go for those long term bets!!

Ahh… Keynes did say markets can be irrational for longer than you can be solvent. But I doubt if he too had been able to visualize that markets can be so incoherent for such long stretches of time.

So many different kinds of monies and so many different ways in which they are incoherent with each other.

The arithmetic of money is neither additive nor multiplicative. What sort of arithmetic is the world of money following in this world, in the last forty years? Where is the key to Rebecca?


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