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Japan Is Losing The Race-To-Debase

Tyler Durden's picture


While some of the smartest chaps on the street suggest that being long of Gold in cowbell terms is the trade of the decade, it appears the winner off the March 2009 lows remains long of Gold in plain-old USD terms. Gold in USD terms has risen 84.5% from the 2009 equity lows and leads the race-to-debase while JPY (until very recently) was the big loser among the majors - debasing itself a mere 52%. It seems Mr. Abe had better get to work...



Chart: Bloomberg


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Mon, 11/19/2012 - 14:02 | Link to Comment SheepDog-One
SheepDog-One's picture

Golden Cowbells? Sweet retail Christmas gift idea!

Mon, 11/19/2012 - 14:53 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Silver Bells is my favorite.

Mon, 11/19/2012 - 14:03 | Link to Comment razorthin
razorthin's picture

Chairsatan rules.

Mon, 11/19/2012 - 14:04 | Link to Comment Lost Wages
Lost Wages's picture

Japan needs to buy more UST.

Mon, 11/19/2012 - 14:12 | Link to Comment oak
oak's picture

yes, print more yen to buy ust.

Mon, 11/19/2012 - 14:06 | Link to Comment bugs_
bugs_'s picture

since the Japanese were (at least in recent memory) pioneers in unlimited central bank bailout/propping it would make sense that they would also be first in ending it.

Mon, 11/19/2012 - 14:10 | Link to Comment yogibear
yogibear's picture

Our Treasury secretary proposes no debt limit. No budget. A signal for everyone that we are on a path to infinite debt and US dollar debasing.

In the meantime Fitch and Moody's goes along with the sham. The rating companies that brought you junk debt rated as AAA. 

Mon, 11/19/2012 - 14:12 | Link to Comment SheepDog-One
SheepDog-One's picture

Yea where are bigmouth Fitch and Moody's ad S&P now? Last year at the 'debt ceiling crisis' they were yapping all day that unless a 'real meaningful resolution' was reached, then they'd have no choice but to slam ratings. Where are they now, spending their hush money?

All just a huge pile of BS.

Mon, 11/19/2012 - 14:27 | Link to Comment Winston Churchill
Winston Churchill's picture

Looking at what Uncle Sam tried to do to Egan Jones.they are keeping their

heads down, and  waiting for the statute of limitations to run out on those AAA

ratings  'mistakes' on RMBS.Else bagHolder will go after them.

May as well be handcuffed.

Mon, 11/19/2012 - 14:14 | Link to Comment oak
oak's picture

do not worry, usa has gold as reserve.

Mon, 11/19/2012 - 14:31 | Link to Comment yogibear
yogibear's picture

Plenty of tungsten for all those electric filaments. 


Mon, 11/19/2012 - 14:12 | Link to Comment fuu
fuu's picture

They have short little legs though.

Mon, 11/19/2012 - 14:15 | Link to Comment otto skorzeny
otto skorzeny's picture

Godzilla vs Bukkake Monster

Mon, 11/19/2012 - 14:41 | Link to Comment Broccoli
Broccoli's picture

In a sane world losing the debasement race would be a good thing.

Mon, 11/19/2012 - 14:51 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

We jumped the shark a long time ago. It's just that at first very few noticed.

Mon, 11/19/2012 - 15:24 | Link to Comment Clint Liquor
Clint Liquor's picture

It must really pucker a Central Planner's ass when the only thing left to debase against is Gold.

Mon, 11/19/2012 - 15:35 | Link to Comment Silversem
Silversem's picture

I love gold! To own it, but even more to trade it. Trading gold is a very good way to increase your income.  

Mon, 11/19/2012 - 15:42 | Link to Comment edb5s
edb5s's picture

A shot at Gartman, perhaps?

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