Ex-Soros Adviser Fujimaki Says Japan to Probably Default by 2017 – Bloomberg 06-14-12

IMF estimates Japanese public debt will balloon to 245.6 percent of GDP in 2014, up from 67.3 percent in 1984.

Former adviser to George Soros, Takeshi Fujimaki recommends buying assets in U.S. dollars, Swiss francs, sterling, Australian and Canadian dollars, because Japan may default within five years, before Europe does. Fujimaki says the yen and the Japanese Government Bond market are in a bubble – even a gentle breeze may pop it, possibly Europe. The only option left for Japan is either default or print money into hyper-inflation.

He says the euro currency bloc may break up in the next 5 to 10 years.

Read the full article at http://www.bloomberg.com/news/2012-06-15/ex-soros-adviser-fujimaki-says-japan-to-probably-default-by-2017.html