080808 8am ET What is going to happen

Pivotal day today.
so far on quiet on the Asia front. Asia markets lethargic, the much awaited Olympic rally never came, dissappointing millions of Stock Investors in Asia.

While USD is out of control, rising against all currencies.

AUDUSD dropping sharply, most Asia currencies investors feeling the pinch, when their capital actually diminishes. it is now below 0.9000.

USDSGD flirting with 1.4000, a much crucial level for the Singapore government.

USDCNY reach a low of 6.8005, after an important decision by the China government no longer requiring companies to repatriate their foreign reservces into China and convert into CNY. i.e. China foreign reserve would shrink from now on. Lesser demand for CNY. CNY would stop appreciating and may reverse course soon.

While the titanic turns, speculative monies would be finding all means to escape from China. I.e., Funds cashing out of China real estate. Monies flowing back to US, possibly into the US stock market, Oil, commodities, etc.

The end of the Olympic would herald a new world, China admitted to the statehood of a developed nation in waiting, with a much slower growth.

Sout Asia would possibly come to a standstill when Japan has openly acknowledged recession, US in denial mode, Europe Trichet has finally admitted slower growth, UK repeatedly reminded of it being in recesion. Next China would join.

Almost 8 months after I made my call for a worldwide recession, the world has to come to acknowledge it on the Olympic day.

We are lucky if we just have recession short of a war in middleeast.

We would also be lucky to have a war short of a catastropic event at the Large Hydron Collider activating today on 080808.