21 Aug Asia Financial Crisis

http://english.chosun.com/w21data/html/news/200808/200808210026.html

Seems like the seeds are in for a repeat of Asia Financial Crisis, with a rapid depletion of the Foreign Reserves kept by Asia Central Banks.

E.g. Korea has been depleting their reserves defending the won, buying Won and selling USD.

And more agressive Central Banks like Singapore through their Sovereign Wealth Fund have depleted their reserves buying up UBS, CitiBank, Meryll Lynch, with the investment cut into half within months.

Hence looking at the rear view mirror, the notion of Asia decoupling from US markets is a myth. Once this myth becomes more obvious or evident to the general public, we may have a panic selling of Equities of all sort.

We are far from the bottom, despite the FED, Treasury, owners of investment banks try to make us believe the bottom is in.