Kyle Bass: Expect collapse and war

Unbridled central-bank money printing will have catastrophic consequences, says investment guru Kyle Bass.

Kyle Bass is "famous for his big, bearish comments", says Joe Weisenthal on Business Insider.com. His latest letter to investors is certainly full of them. Bass, who founded the hedge fund Hayman Capital six years ago and shorted the US housing market before the subprime collapse, says investors are in for a shock.

They believe in the omnipotence of central bankers because the Federal Reserve and other national central banks averted a meltdown in 2009. But in doing so, they have sown the seeds of a worse slump. Bass can't see how the current set-up "ends any other way than a massive loss of wealth and purchasing power through default, inflation, or both".

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