Japan Ministry Of Finance Says Ready For "Battle On Yen"

Tyler Durden's picture

According to sources, a Japanese Ministry of Finance official has said that it is now ready for a "Bettle on the Yen." Just headlines for now. Much more will be revealed later when the G-7 meets to discuss how to further weaken the currency in a coordinated effort. An immediate pop in the USDJPY above 79 follow this statement. The fact that we are getting nothing but posturing from the BOJ instead of actual intervention, such as we saw last when the USDJPY hit 80.30 in late October continues to be quite troubling. In the meantime, the NZDUSD, another funding pair has been taking on some water in early trading.

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Falkor's picture

Will be interesting.

nobusiness's picture

Is there no end to Government manipulation?  This is how the G7 have become the most indebt nations of the world.

Roy Bush's picture

Should I give my 20 bucks to the Red Cross Japan relief before or after the BOJ creates a gazillion more yen out of thin air?

dbach's picture

The BOJ should directly wire the newly printed Yen to the Red Cross and other relief orgs. That would simultaneously devalue their currency and help their residents. And cut out the worthless banks. Win win win.

Roger O. Thornhill's picture

I was just thinking the same thing. Japan isn't some sad 3rd world country. They have billions in T-Bills, and the ability to spawn money out of thin air. Let them devalue their currency and pay with the magical electronic yen.

My money will be sent to more worthy causes - people who are not ever going to get a bail out. Maybe there should be a fund for the tragedy of kids who are stuck with student loan debt that cannot ever be dismissed! Not as tragic as an earthquake, but the level of stress that is created (I have nieces and nephews groaning under it) is quite sad.

We've created a whole generation who's standard of living will be diminished based on forking over nearly one hundred thousand dollars to learn to evaluate fiction novels, as well as learn that their western society is a curse on the earth and the best thing they can do a a group is die off. Again, they payed dearly to learn this nonsense. We live in unbelievable times.

Vampyroteuthis infernalis's picture

Roger, according to the Baby Boomer elite who are running this country, that generation doesn't count. Fine, when their retirements are blown and they are too old to work, poverty awaits you Boomers.

Boonie's picture

There's an irony to charitable giving in this situation is there not?  Unlike most of you, I know little about foreign currency exchange trading.  I'm just a dipshit lawyer.  But, when I just cut my check to the American Red Cross for $100, I explained to our office manager that I'm actually making matters worse for the Japanese.  When the Red Cross uses my $100 in Japan, it will exchange or sell the $US for Yen, correct?  This will reduce the value of the $US sold while increasing the value of the Yen purchased, yes?  By strengthening the Yen via our charitable giving, we actually make the cost in Yen of the foreign goods, services, raw materials, etc. needed for rebuilding, food, shelter, etc. more expensive to the Japanese.  I would assume at least for the time being and perhaps for quite some time the Japanese will find it difficult to rely on their own productive base to rebuild, fee themselves, heat/cool themselves, etc.  Am I offbase here?

Josh Randall's picture


tmosley's picture

This is right up there among the dumbest fucking things I have ever heard from a government official.

wirtschaftswunder's picture

Do you use swearwords in every post?

tmosley's picture

When warranted, which is the vast majority of the time these days.

wirtschaftswunder's picture

Seems very crude and backwoods.

Zero Govt's picture

"crude" fuk yes but the MF is bang on, this Jap Govt is so dumb you can almost hear the Forex traders forming cues, the collection tins rattling in their impatient hands and their saliva hitting the tarmac for a whopper 'Pay Day'  -  a huge wealth transfer from BoJ to amassed drooling traders  -  Govt dimwits lining up to the slaughter..... are you ready? ...i fuking am!!! 

tmosley's picture

No, it is crude to restrict the use of words.  The concept of a "bad word" is what is crude and backwards.

Those words are very useful for expressing state of mind.  Those who attempt to forbid use of those words are trying to stop people from feeling angry.  That doesn't work.  It's putting the cart before the horse.

I'm mad as fuck, and I'm not going to take it anymore!

wirtschaftswunder's picture

Both of you above are using the words to insult. As words of expression, they represent diminished cognitive ability.

Rodent Freikorps's picture

Fucking asshole. More worried about form than function. Fuck you.

I don't even like TMosley, but you suck more.

long juan silver's picture

You got no function at all in this life you useless donkey bitch.

tmosley's picture

THERE'S Willy's new username.

ThreeTrees's picture

In the words of a cuttingly observant comedian in possession of a most trenchant wit who has hence passed away, "Shit, piss, fuck, cunt, cocksucker, motherfucker. Tits."

tmosley's picture

Uhhh, no, they don't.  My IQ is multiple standard deviations above the mean.  There is no correlation between use of "naughty words" and cognitive ability.

You are ignorant of the wider world.  Go live among people for a couple of years, then hit us back up and tell us how "backwoods" we are.  Odds are that you are from some pissant small town where no-one curses, but everyone beats their wives and children.

Andy_Jackson_Jihad's picture

Who fucking cares if its true? Who fucking cares if its on the internet?   A person speaks colloquially so they're oppinion doesn't count?  Do you sniff your own farts out of a champagne flute or a brandy sifter?

jmc8888's picture

I'm sure Jared Lee Loughner thought the same way. He cared alot about 'words' as well. To an extreme.

People who can't handle 'cuss words' are idiots.  Holding onto some bullshit value that never really existed (nor had a rason to).

It's not used as a crutch for other words.  It's used to express emotions, instead of pretending they don't exist, until they do JLL style.

People who can't handle 'cuss words' have some sort of mental disease. 

The 'proper' way of things, is arbitrary and thus bullshit.

I believe Lewis Black said it right...rough paraphrase, from Red, White, adn Screwed...'these guys are supposed to protect us (in fact are running on it)...but if you say poopy...they cry.' 

Foul language is only foul to people who believe it is so.  It is a learned condition.  A learned self-limiting behavior.  It is complete bullshit.

No one has ever answered the question of WHY not to use 'curse words'.  Because you shouldn't, or because there is (not) a different way' isn't an answer. Because the kids are listening, isn't an answer.  There is no good answer. Civility? How is it civil to not use curse words?

Finally if people don't like it, remember Geroge Carlin, when speaking of the 7 dirty words whether on TV or Radio.  One knob turns the station, the other knob turns it off.

The excuse of  blaming 'bad language' is the refuge of people who don't have a real point.  Just because a bunch of dipshits say 'poor language is bad', doesn't actually make it bad.  Only in the limited minds of idiots.

Backwoods, is thinking there is such a thing as foul language.  This isn't victorian england, and we're never going back to beaver cleaver land. Thank god.

People need to realize that they were brought up on bullshit.

Richard Head's picture

Tmosley, it appears your buddy william has created a new account.

Zero Govt's picture

Tmosely  -  fine by me... PC is a mind-numbing political hed-fuk, the assholes that peddle it are walking sphincters ...regards expressing anger our time is approaching, as stocks collapse wider social anger goes up in direct correlation. In about 1-2 years it's all going to kick off with wider society catching up to where we're at now ...pitchforks waiting

HoofHearted's picture

I'd just stay stick around. Some pol is sure to say something even yet more stupid in 3, 2, 1...

ZeroPower's picture

News being sold, under 79 again. An epic battle indeed..

oh_bama's picture



The BOJ is just stupid! BOJ, PLEASE, do another QE! Only 1 quadrillion yen would be more than ENOUGH!!

In this situation, it requires heroic measures. BOJ must come up with decisive, civilization scale QE to stop the panic and fight the disaster!



StychoKiller's picture

So you did!  Is shooting puppies in a barrel gonna become an Olympic sport?

4shzl's picture

Sell yen, buy dollar, buy Treasuries.  Same old, same old.  Debt @ 300% of GDP? You betcha.  They can do it, and they will do it.

A Man without Qualities's picture

Print Yen, sell for Dollars buy oil, gold, silver, hell anything solid and maybe one of those Philippine islands just in case...

HoofHearted's picture

Wish I could print something people would accept. I'd sure sell it for something much more valuable than other paper, though. I'd be the reincarnation of John Law.

AZSovreign's picture

I guess I just simply don't understand why they would want to devalue the Yen at this point???

Rogerwilco's picture

OK, who's buying the dollars?

AccreditedEYE's picture

Under normal circumstances Roger, I would be with you as I have a very contrarian bent and did believe in dollar strength as part of the overall deflation macro play. However, what we may be witnessing is the replacement of the yen with the dollar for the carry trade. That's a whole new level of pressure for the buck...

Silverhog's picture

Maybe a firehose will work better on the Yen.

101 years and counting's picture

The only way they can get this over $80 and stay there is for Bernanke to come out a kill any QE3 talk, raise rates and/or kill the rest of QE2.  Not going to happen, so go ahead and short USD/JPY.

LawsofPhysics's picture

Wow, unbridled stupidity and proxy for WWIII.  Hedge accordingly.

Franken_Stein's picture


Why ?


The Euro is stronger than ever and will stay that way.

Last time I checked the ECB wasn't hell bent on printing like there's no tomorrow,

even hinting at rate rises.


What Trichet prints in a month is an afternoon shift for Benny & associated Inkjets.

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hugovanderbubble's picture

Because Spain and Portugal will need Bailout cos Real Estate Loans Losses, that the general traders doesnt know, cos Media and Bank of Spain lies in the figures and in the valuation.


Impossible to hold current 10yrs and 5 yrs yields in PIIGS...so this will be dillutive for banks and financing in whole cross Europe.


Euro has been artificially sustained------Haircut(Forgiven debt schemes coming ---QUITAS----20-40% from par value

Germany with current Japanase Crisis will need to have a very very cheap Euro....as Japan is the first German Customer


Euro Target for 2013 = 1.10-1.18



Hugo Peterssen,

Franken_Stein's picture


Japan is not Germany's first customer.

Germany exports ca. 30% of its goods to France, its main customer.

Almost 60 % of German exports go to EU countries.

Then comes the U.S. with around 10 % and then maybe Japan.


hugovanderbubble's picture

Review ur stats



Country most affected by Japan Crisis-------------Germany

Rodent Freikorps's picture

How much of that is that Green Tech crap no one is going to buy any more of?

PY-129-20's picture

Are you listening to the N24 and N-TV "pundits"? You could as well watch CNBC. Same stupidity.

Lednbrass's picture

Good luck with that.

As Germans are stolen from to provide for the retirements of Club Med nations, I truly hope you enjoy the Euro.