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Japan's Official Advice To Bond Investors: "Please Do Not Worry"
Q. If Japan has a financial collapse, what will happen to its government bonds?
A. Please do not worry.
Source: Japan Ministry of Finance
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Just click your heels together three times and say ...
I'm interested to see what will happen to Japan's mortgage rates as their government bond rates start to rise. Will they rise in direct correlation or will they diverge in "risk" value? I think this will be the blue print for how things will play out in the US real estate market once we reach the Greece/Japan moment. Good discussion on this mortgage rate topic here:
http://www.ftense.com/2012/11/the-government-home-mortgage-bubble-is.html
"Please do not worry" ~ I didn't know that Timothy Geithner was Japanese too.
Thank Goodness....I feel so much better now that I don't have to worry.
Q: How many is Japanese for screwing incandescent bulb?
A: Please do not have to worry!
This sounds a lot like Obama: "The public is not paying close attention to the ins-and-outs of how a Treasury auction goes...they shouldn't"
http://www.youtube.com/watch?v=64yhiih53F4
"...we're paid to worry about it."
A timeless classic.
When official denial appears, it is SHTF time. Debt deflation implosion bitchez!!
Show me one bankrupt country's fiat currency that gained value when going bankrupt.
All the Fractional Reserve Central Banking captured governments' favorite song (that they love playing for their "contituents"):
Here's a little song I wrote
You might want to sing it note for note
Don't worry, be happy
In every life we have financial trouble
But when you worry you make it double
Don't worry, be happy
Don't worry, be happy now
Ain't got no place to lay your head
Somebody came and took your bed
Don't worry, be happy
The BLS says inflation is 'bout 2 percent
They hedontically substituted a tent for your rent
Don't worry, be happy
Don't worry, be happy
The fiat printing is escalating
Your real income is falling & your living standard deflating
Don't worry, be happy
Don't worry, be happy
You went out for some gas, milk & bread
And then came home full of fear & dread
Don't worry, be happy
Don't worry, be happy
There's now talk of Fed Chairwoman Janet Yellen
If so tens of millions more will be communally gellin'
Don't worry, be happy
Don't worry, be happy now
oooh oooh oooh oooh oooh
la la la la lalalala la lala
la la la lalalala la la
Don't worry, be happy
Don't worry, be happy now
The translation is wrong. It says "We intend wipe out all bond investor off of face of earth."
" What good fortune for governments that people do not think "
Adolf Hitler
Chip Diller, "Remain calm--all is well!" http://www.youtube.com/watch?v=zDAmPIq29ro
what, me worry?
http://www.madmagazine.com/tags/alfred-e-neuman-for-president
Whatever you do:
http://1.bp.blogspot.com/-lY4sUYVViHE/TxPreBNGAXI/AAAAAAAABF0/CEgtVg22eGY/s1600/HHguide.jpg
NEW NIPPON NATIONAL ANTHEM.
http://www.youtube.com/watch?v=Oo4OnQpwjkc
Right, just like when someone says, "don't panic".
Hei!
Okay that made me laugh. I remember my first trips to Russia when we were just getting things started. As soon as the cabby, or a colleague, or a potential partner said "no problem" you knew you were fucked or at the very least there definitely was a problem.
Yeah, it's what I tell my wife when we are sailing and it's 8 feet deep and the depth gauge keeps dropping...
"Do not worry. We will never hit the bottom."
Everytime I have used those words there has been at least a 50/50 chance of things really going wrong. lol. And I'm an honest guy. For other folks it is a 100% certainty that screwing is a coming.
Hmmm. Denial? Delusion? or a Setup?
As long as the roots are not severed... all is well & will be well... in the garden
~~~
Chauncey Gardener
I like to watch......
"Life is a state of mind."
Just tell Bernanke. Fucker will buy them up in a heartbeat.
You bought Japanese government bonds? Ho ho! Don't panic, they are flammable, and will keep you warm if ignited.
Please, buy moar...
Get out your "Hitchhiker's Guide to the Galaxy" and make sure you have a towel!
when u are on the edge of fuku simmering cauldron what is a bond meltdown in comparison...don't worry, beeeee happyyyy!
all your reactors are belong to us, please do not worry
Wow now that is just sad.
http://ericsprott.blogspot.ca/
From the feudal people who gave the world "the tanto". Subsequent announcement--we got some bad-ass knives for everybody bitchez.
http://en.wikipedia.org/wiki/Seppuku
Take it from me, if a Japanese person tells you not to worry, worrying is exactly what the fuck you should be doing.
The Japanese say don't worry about everything. They also apologize when they do you favors and will refuse anything you try to give them three times, even if it's water in the desert. This is the second time the Tylers have posted this and the Google translate effect just isn't funny. In Japanese what they're saying neither an attempt at obfuscation or gallows humor...it's simply a statement.
Well, that is certainly a relief. For a moment there I was worried what might happen in a financial collapse.
Just like they handled Fukushima, so don't worry
Well, at least they have manners.
Imagine how bondholders would feel if they were told, "Don't worry!," instead of "Please do not worry."
So polite!
"Okay people, move along, nothing to see here."
And if you don't... http://www.youtube.com/watch?v=gx4jn77VKlQ&feature=related
The Japanese are so polite! I love it how they said "please". The U.S. Treasury would like just bloviate on about how "American treasury bonds are backed by the full faith and credit of the United States government....."
Who's raughing now?
Time to panic!
Now where did I put the panic button...
Is this what you're looking for?
http://4.bp.blogspot.com/_1aWP18QYKW8/SbH5AxNtj0I/AAAAAAAAAhA/-S9Gud1fZFU/s320/reset+button.jpg
Hey y'all watch this!
"If everyone just smiles, a default will not hurt you"
We promise to pay you back as we will print the money. We do not make any promises as to what that money will buy.
Thats sounds like a quote from the Social Security administration in the not to distant future. Or maybe they have already said it.
That is so Japanese, I love it.
The FED would try to type out a two page explanation using economic newspeak resplendent with charts, graphs, and pictures of the Capitol and Washington and the flag and politicians in suits and stacks of gold bars and smiling happy families.
"Please do not worry" is so much more elegant.
Indeed. Debt clocks are just not very polite. Especially not if you give it to someone as a gift. Definitely not a good gift. Especially not for weddings.
In other words... "Please don't panic and continue funding the Ponzi so it can be maintained."
I guess this debate has been triggered off by the LDP proposals for yet more monetary easing should they win the election. Here below is an article which describes how far they are willing to go.
"Let me illustrate from a speech by the head of the Japanese LDP Shinzo Abe.
Some care is needed here as “bold action” from Japanese politicians and officials is in my financial lexicon but revising the central banks legal structure had my antennae on full alert.Then Abe san explained. From the Japan Daily Press.
He has also called for “unlimited” monetary easing from the Bank of Japan which is an interesting concept for an organisation that is in the middle of so-called Quantitative Easing number 9 which replaced the former QE8 after only about six weeks. Apparently the extra 11 trillion Yen represented by QE 9 is not enough for Abe san who has called it “meaningless”. No wonder he also wants to change the Bank of Japan Act!"
http://notayesmanseconomics.wordpress.com/2012/11/16/will-japan-be-the-first-country-to-have-negative-official-interest-rates/
..edit, very late to the party...
Wolf or one of other contributors wrote about this last year, no?
It's funny how this gets ridiculed more than everyone else's approach when in fact there is no difference. As many have said Japan may be (relatively) better off because most bonds are domestically owned.
You may want to double check that particular quite popular conventional wisdom misconception:
Source: Japan MOF
But what about Japanese banks and life insurers?
I'm a total novice at high finance, but if by "retail investors" this means only non-Japanese buyers, at 35 trillion yen, it still represents less than a fourth of the total outstanding JGB...WAY less than any other developed country.
http://www.mof.go.jp/english/jgbs/debt_management/plan/e20091225highlights.pdf
This, from the same people who "handled" the Fukishima disaster.
How you pay? How you pay?
"Don't worry, subprime is contained"
That's why I prefer government bonds over gold.
Gold is backed by nothing (I heard it on TV!) while government bonds are backed by the full FAITH and CREDIT of the government.
They have always been faithful (to their own interests) and we know their credit is good, don't we?
/sarc
If Bass is back out on the streets talking about Japan it could be getting interesting. His analysis is spot on but timing is the blind spot. Tied to the Grexit, Japan will flame out and American geopolitics will become the lynch pin in an asian meltdown. The middle east is about to go boom and europe is soon to pop. All three at once and China gets to sit back and watch, we are fucked.
Forex crisis - South Sudan's oil shutdown has claimed the fortunes of Kenya's medium-sized regional airline, Jetlink Express, which was forced to ground nearly eight aircraft for up to four months over a US$2 million financing crisis.
The Fed will buy the JGBs if necessary and the BoJ will buy the the USTs too all with newly created dollars and yen.
So what happens when the Fed has the entire worlds's toxic assets on it's books? My head is exploding.
Herro prease....!
Eat, drink and be merry, for tomorrow we die.
Correction, tomorrow you get cancer, then the medical industry bleeds you and your medical insurance of every last dime for 3-5 years...then you die.
Is it a repeat or a new message?
lol thanks for the reminder: http://www.zerohedge.com/contributed/2012-09-24/japanese-ministry-financ...
So more action coming about?
"If you're going to panic, panic early."
Please consider it is already too late to worry.
PS: I bet the Fed owns a shimaload of Japanese debt.
"Please do not worry." Mothra is aware of problem and will death ray it.
Best quote of the year. "Please do not worry" that's the best! I'm changing my company slogan! Stealing that bitch out right.
Wait is that the greatest Haiku ever?!? I want to hear it in Japanese.
Japanese Official Advice:
In case of panic, do not panic.
....please
Most likely is for domestic rates in Japan to not rise much, but for a sharp drop in the yen.
Don't worry y'all. You can eat the bond certificates, another advantage over gold!