In my last post, I speculated that Temasek raised sterling bonds because it might want to buy an oil minor.
I’ve just read this which says that the British government may be planning to inflate away its long term debts i.e. make its long term debt worthless. This policy, if true, will benefit Temasek twice over because the bonds will be worth less, and sterling will weaken. Revenge for the loss over Barclays?
If true, I’ll take back some of the things I’ve said about the boys and gals at Temasek.