Russell Napier: When Credit Dies

European liquidity situation getting worse

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Russell Napier

Jim welcomes back Russell Napier, Consultant at CLSA Asia-Pacific Markets. Russell discusses China dumping US treasuries and growing signs of a private-sector liquidity squeeze in the US. Russell notes that when credit dies, deflation follows, leading to greater financial repression.

Russell Napier is a consultant with CLSA Asia-Pacific Markets writing on issues affecting global equity markets. After studying law, he began his investment career sixteen years ago at Baillie Gifford in Edinburgh managing funds in the Japanese then the US and finally the Asian markets. Moving to Foreign & Colonial Emerging Markets in London he was responsible for managing Asian portfolios. In May 1995, Russell relocated to Hong Kong to become Asian equity strategist for CLSA, a leading Asian equity brokerage. He occupied that position in a full time capacity until 1999 and was ranked number one for Asian strategy in all major industry polls including Institutional Investor from 1997-1999. Since 1999, apart from fulfilling a consultancy roll for CLSA, Russell has created and established a new course called A Practical History of the Financial Markets which is taught through Edinburgh Business School.

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About James J Puplava CFP

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