George Soros was short the Chinese currency

In the Fed's statutes, there is a paragraph that says that one of the Fed's mandates is to coordinate – well understood, coordinate – monetary policies with foreign central banks. I'd like to emphasize that the federal reserve talks every day to the Bank of England, to the ECB, and to the Bank of Japan, and that they coordinate monetary policies. 

Now, I don't believe that they talk every day to the Bank of China and to the Russian Central Bank. That I doubt, but basically among the industrialized block, Japan, Britain, Europe, and the U.S... the so-called allies of the U.S... they coordinate monetary politics.

Now, how long this will work and to what extent there is a currency war, basically what happened is that some big hedge funds, including George Soros, were shorting the Chinese currency. And I don't think that the Chinese want to be held hostage by some speculator. Thereafter, suddenly the U.S. dollar began to weaken. You understand, the Chinese basically, they have sufficient reserve where they can basically dump U.S. dollars into the market and depress the value of the U.S. dollar. 

At the same time, they can embarrass, say, the Bank of Japan by pushing up the value of the yen. So I believe it will become very interesting, what happens internationally. We have this colossal liquidity bubble that was created through printing.