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The Inflation Won't End Until the Wars End, Right?
The yen has just been getting crushed. It seems like a lot of the concerns and the major stress points in the credit markets have really shifted over into Europe, where initially they seem to be showing up in Japan. So I think what we're in the very early days of reverting to is currencies will start to trade increasingly on import, reserve import coverage. Once you're out, you are done with a capital D.
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