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John Mauldin continues:
“People have been talking about, ‘Oh, Japan’s going to have a problem. Japan’s going to be in a crisis. Look at the data.’ And nothing happens. They (the Japanese) don’t go up, they don’t go down, they just go. That process is getting ready to come to an end....
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“They have kicked the can as far down the road as they can. They have elected (Prime Minister) Abe, to come in. And he’s appointed former Prime Minister (Taro) Aso, who two days ago said that he wants to lift the self-imposed debt limits, in terms of how much debt they are willing to take on each year.
The difference between other people saying that and Aso, Aso is an old, old family in Japanese politics. While he didn’t distinguish himself when he was Prime Minister, he still has the contacts within the party. He still has the pull, that clout. When he says, ‘This is what I want to do as Finance Minister,’ which is take off the limits for debt, he has the political wherewithal and clout to in fact do that. And I think you have to take that extremely seriously.
We’ve already watched the yen go from the mid-70s, now it’s mid-80s. It (the yen) waltzed right on through 86. Three years ago, I was on record saying that the yen would eventually go to 100, then 125, then 150, then 200, and then 300. I still think so. In my lifetime, I can remember the yen being over 300. It went all the way down to 75, which is a long trip.
The yen is going to make a reverse, and it’s not going to take 40 years. It’s going to take this decade. And that’s a monster potential macro-trade. It’s time to start putting that (trade) on. It’s time to start thinking about how their bonds are going to react, and how their stock markets are going to react. I think it’s going to be one of the great macro-trades of my lifetime.”
When asked about the gold market for 2013, Mauldin responded, “Let me say this, if I was buying gold in terms of yen, absolutely. If you are Japanese, you want to be buying more gold. If you are French, you want to be buying more gold.
If you are in the United States, you want to figure out whether we are going to balance the deficit or not. If (hypothetically we were to) get this deficit under control, then you want to buy your gold in terms of other currencies. There are ways to do that.
But if we don’t get the deficit under control, I will start increasing my percentage of gold that I buy every month, because at that point we will have really committed ourselves to a path that is not sustainable.”
KWN has just released John Mauldin’s extraordinary audio interview. He covers a tremendous amount of ground in a short period of time, discussing why the world is headed for another financial crisis in 2013. Mauldin also talks about the unbelievable problems both Europe and the United States will face in 2013, and how that will contribute to the upcoming financial crisis. The extraordinary KWN interview with John Mauldin is available now and you can listen to it by CLICKING HERE.
© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
The interviews with John Mauldin, Michael Pento, Egon von Greyerz, Gerald Celente, Andrew Maguire, Roberto Giorgi, James Turk and Rick Rule are available now. Also, be sure to listen to the other recent KWN interviews which included Nigel Farage, Chris Powell, Bill Fleckenstein, John Hathaway and Ben Davies by CLICKING HERE.
Eric King
Mauldin - This Will Be One Of The Greatest Trades Of My Life
Today John Mauldin spoke with King World News about what he believes will be one of the “greatest trades” of his lifetime. Mauldin, President of Millennium Wave Securities, also warned that we are once again headed for a financial crisis in 2013. Here is what Mauldin had to say: “Well, I’m going to be writing my forecast (for 2013), but I’ll give your listeners (and readers) a preview. I’m going to call it, ‘The Year Of The Windshield.’ I’ve been saying that Japan is a bug in search of a windshield. I think 2013 is the year that Japan begins to find that windshield.”
© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
December 30, 2012
