The New Establishment Summit is a meeting that takes place usually on an annual basis. The goal of the Summit is to bring together industry leaders in realms of, technology, entertainment, finance, media, and anywhere else world-shaping events are taking place. To that end, the Summit always invites high-profile speakers from leading bastions of the international community. This year’s event will see the CEO of Amazon speak, the vice president of Apple say a few words, and billionaire financier Kyle Bass have his moment as well. There are others who will be speaking at the event, but Kyle Bass’ inclusion is very intriguing.
Kyle Bass short-sold against sub-prime loans in 2008 and made a fortune. He was instantly catapulted to international celebrity by the mainstream financial media, and since then has used his platform as a means of announcing investment decisions and advice. Since 2016 he’s been railing against China, even going so far as to predict financial collapse by the end of this year. As of September, this has yet to occur; however Bass has extended his projection to include the next two to three years. According to Bass, their bubble is going to collapse eventually, it’s just a matter of when. Although Useful Stooges doubts that, based on his history. He’s put his money where his mouth is: currently Bass has a billion dollars tied up investment-wise against Chinese currency.
While this seems like a good thing for the US–that Bass is betting for the American dollar and against China’s option–in reality it portends negative things. If China’s economy implodes, it will affect the US economy; meaning increased dollar value will come at the expense of decreased economy, reflecting an actual loss.
But Bass regularly manages to make money from the losses of big-ticket financial powers. Consider CAD, the Coalition for Affordable Drugs, which uses petitions and special interest groups to drop stock value on Wall Street so Kyle Bass can short-sell his holdings. This is always done under the penumbra of humanitarianism, but given these stock drops cut R&D budgets from big-ticket pharmaceuticals, that seems a lot more unlikely than the idea Kyle Bass is simply opportunistic.