(UPDATE) Bank of Japan's English press release on their money-printing exercise: http://www.boj.or.jp/en/announcements/release_2013/k130404a.pdf
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Which they, and the politicians and economists in Japan (as in elsewhere), call "price stabilization". (Newspeak, anyone?)
Bank of Japan goes full retard, as Zero Hedge would say. BOJ under Mr. Kuroda, former career bureaucrat at the powerful Ministry of Finance, will:
Buy 7 trillion yen (US$75 billion) worth of long-dated Japanese government bonds (JGBs) every month; and
Double the monetary base in two years.
The Nikkei goes full retard, too:
An article earlier today at CNBC asked, "How closely is Kuroda emulating Bernanke?" Now you know. Extremely close.
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6 comments:
Maybe Japanese jumping ship are behind bitcoin's rise today.
Assuming a GDP growth of 0%, doubling the monetary base in two years should mean 50% real inflation, not "2%". With a reasonable growth of 1-3% that does not change much. In raw theory at least for inflation 0%, the increase of the monetary base should be equal to the expected growth. Of course there are some hidden factors but still...
Doubling the monetary base and lending only to banks (at nearly 0% interest, as it happens), means that the banksters get 50% of overall wealth in exchange of nothing but their purported "services" (business): it is a wealth transference from society to the mega-rich, as it is happening elsewhere by various means.
Of course that the stockmarket went bang: you also want to own a share of those banks while their armed-robbery scheme works. And definitely you don't want your money to be idle if the realistically expected inflation is c. 50%: you want equities, property, even gold... anything but cash.
Some handicapped kids develop their cognitive and/or social skills more slowly than normal kids, hence the rather unflattering "retarded".
Folks at BOJ are not physically handicapped so there is no reason to use this adjective, I think.
Thank you.
Uh... who's talking about kids? PC is not very welcome here.
Anon at 4:51PM, members at BOJ show every sign of being mentally handicapped.
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finance japan
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