### Comment:
Europe might collapse first before the Japanese and Chinese at this rate. The big one to look out for are the banks, DB and UBS in particular. Any sign of stress there and it’s gg. Liquidity will run dry and those over priced Silicon Valley stocks will crash. Which will then rape SoftBank and the. Rape the Japanese bond market. If Japanese interest rates tick up just 1% they’ll likely have to default. So more interesting things are to come for sure. But this one doesn’t seem to mean much.

### REPLY:
Why wouldn't the ecb recapitalize the banks? Deutsch is already in trouble and ubs will follow. That would allow the fed to print at the same rate in the US so only China gets devalued

### END.