Kyle Bass of Hayman Capital:
"When you see things like Argentina, Greece, Cyprus, Ireland, Italy, you see how fast things go from perfectly stable to completely unstable. In this case [Japan] I think it will happen more quickly because of the twenty-year build-up."
Needless to say, Bass is short the yen. See the full clip for his thoughts on gold as an investment, on residential mortgage-based securities, on Fannie Mae and Freddie Mac, on near- and intermediate-term interest rates in the U.S., and more.