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In Japan It's "Whatever(er) It Takes"
After the strongest 4-day surge in 11 months, it would appear that the BoJ is on full-court-press tonight to jawbone the world back to the new normal. The sad truth is though, they can't even make up their own punchlines anymore:
- *KURODA: BOJ WILL DO WHATEVER IT TAKES TO END DEFLATION
Well, why not, it worked for Draghi for a few months? Of course JPY is leaking back lower a little as they talk up their devaluation strategy (and all their various shiny new options - that have never been tried before) - even as:
- *KURODA: UNCERTAINTIES ARE HIGH FOR JAPAN'S ECONOMY
- *ASO SAYS CAREFULLY MONITORING CYPRUS SITUATION
- *ASO SAYS CYPRUS SITUATION MAY AFFECT CURRENCY MARKETS
JPY has seen its biggest 4-day rise in 11 months against the USD...
but the jawboning is not working...
and a few minutes later...
So we need "Whatever-er It Takes"...
Between Dijsselbloem's slip of truth (and rapid retraction) and now this 'copycat-ism' by a desparate BoJ, it appears, simply put, we are being taken for fools.
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What exactly will the central bankers do when "whatever it takes" is no longer enough? If the good people in Japan can't afford food or electricity does it matter where the stock market is?
It matters to the few people who are intended to benefit from the stock market going up ad infinitum. Another article here on ZH made the point today -- they don't care that asset bubble inflation is benefiting only a few. It is by design and they don't care about everyone else. The good people of Japan who can't afford food or electricity can eat cake at their campfires.
They don't care because they are sociopaths. But we care a lot, so we should start erecting the scaffolds. Maybe then they will care more.
220...221...whatever it takes
http://www.youtube.com/watch?v=c6si8Xp8P-M
‘DO WHATEVER IT TAKES’
…
General: Honorable kamikaze pilots of Rising of qua Japan,
today you embark-e on a most dangerous mission.
Today you take-a you kamikaze planes high up in the sky,
over the Yankee aircraft carrier.
Bring-a you kamikazes planes down fast,
crashing on the deck,
killing yourself and everyone aboard.
Now, before we have ceremonial sake toast,
are there any questions?
Yes, you in the back, Sakimoto.
Sakimoto: Honorable General-son
General: Ah so.
Sakimoto: You out of you fucking mind!
(smoky memories of Cheech and Chong on vinyl)
BIP...........
thats all it will be
There hasn't been deflation in terms of the broadest and most relevant basket of goods in Japan since their markets were Bernank'd (before Bernanke was a scourge on the face of the globe) beginning in the early 90s.
That whole "deflation" claim is one of the biggest and most often repeated historical and economic lies of the last 30 odd years.
Japan has experienced stagflation, or, if one takes into account the strengthening of the yen vs the USD or € which was a trend that was firmly intact since roughly 1999, there's a strong argument to be made that Japan has actually experienced a fairly high rate of inflation based on domestic purchasing power (i.e. the yen has significantly strengthened while costs of goods and services have continued to increase even as measured in units of nominal yen required to purchase them.
*KURODA: BOJ WILL DO WHATEVER IT TAKES TO END DEFLATION.
But, But,
I thought inflation was the bad monster?? No??
20+ years and deflation has a tighter grip on their balls than it did when they started.
FOOLS...
Keep printing Ben, it should take hold in about 15 more years huh??
Not "ad infinitum" ... US equities today are a monumental pump-and-dump.
Get in, ride the QE wave to the top, bail out and leave the institutional and retail (those still exist?) investors holding the bag.
AKA Government and banks collude to steal your retirement.
They think you don't need your retirement... there's no shortage of cat food.
They should care even if only for selfish reasons.
As we've seen a sample of this weekend - when the fat lady starts singing the only choice is to go after the only people left with assets. Inflation and taxes cripple the spending power of poor - there is no cream to skim. TPTB need the little people on the hamster wheel to keep the system going - and they have fallen off...some by choice.
Tax rates of the wealthy exploded after the great depression and lasted for decades.
well, i guess if they're worried about the velocity of money being too low, it could also work as a "motivational tool" to have others' deposits outright confiscated
If we had any velocity of money, we would all be multi quadrillionaires.
There cannot be any velocity of money, especially now.
"Any institution which does not suppose the people good, and the magistrate corruptible, is evil."
Maximilien Robespierre
Extend the warranty to 100,000 miles and include free oil changes?
Deflate Bitches, I need a new flatscreen.
They are deflating.
I'm inspecting 2nd hand tractor equipment. Mostly from Spain it seems.
How the F can TPTB control the price of gold in times like these with what is going down?
Are there really that many brain-dead people out there? Or have TPTB sold all the gold in
Fort Knox just to benefit a few wealthy cronies and keep the charade going a little longer?
When this crap crashes, and it will, the only thing the U.S. has (had) is gold to back a new
currency that would at least help us get through until we can upright the economy again.
These sociopaths that are in control of the world's finances need to be stopped now at all
costs. It really is a matter of life or death.
They've looted everything. Whatever gold is left certainly won't be going towards backing a new currency. Gotta be kidding me.
Life and death -- think of the Third World populace that is dealing with price inflation for basic survival! But ... but ... adopting the US dollar was supposed to create safety and security. The President of Amurrika said so on TeeVee!
Maybe yer looking at the wrong market friend:
https://online.kitco.com/selltokitco/selltokitco_USD.html#bullion
http://www.youtube.com/watch?v=vWz9VN40nCA 3:44
I am pretty sure we discovered today that the people waaay up top (Putin, Merkel etc) are all working together. What do they give a shit oif gold is $1,500 or $2000 an ounce? They are in no hurries. When they feel ready they will let it skyrocket. But t hey are all probably doing just fine right now. No need to rush anything.
Fonz,
Merkel and Putin are "working together" the way Hitler and Stalin did.
Everyone looks out for number one.
I made a similar comment this morning. It is truly amazing that gold just stands still.
There will have to be another MF Global moment soon, however, because physical really is getting sucked up by the market. Look at the mint numbers, the COMEX inventories, the recent no-longer-take-possesion announcements by the bank in the netherlands, the picture is pretty clear. It'll be interesting to see what the next rabbit is to keep gold under control. Tax hikes on exchanges, maybe?
I'm quite positive that even if the gold the US has is still there, it won't be when the time comes we need it. Hopefully we'll still have a loyal marine expeditionary unit functioning at that time to go and recover it "dynamically."
I'm very happy with my PM portfolio and its performance -- at the same time, given risk management and balancing (and having a dollar cost average < $1K) I keep looking for alternative places to stash savings, which are few and far between. These are truly troubled times.
You mark-to-market guys worry way too much about the fiat value of your stash. I'm praying we see another '08 plunge so I can stock up again.
None of this means anything till it all goes to hell or high water, and you need bread and medicine. If it doesn't go hell, history has proved that you've hedged clearly.
In the 20's and 40's an ounce of gold would get you a nice fucking suit, today the same... when it costs 100K for the same suit, your ounce will still buy it.
Gold (& silver) is the only asset you should book value, as long as that value is denominated in hard assets.
Any institution which does not suppose the people good, and the magistrate corruptible, is evil.
Maximilien Robespierre
A duplicate post, but I couldn't resist.
If they can't afford food or electricity, the government will pay for it. In return, said beneficiary becomes a ward of the state and agrees to never ask any scary questions.
See how that works?
Win-win situation for the statists. Either they succeed in reflating their decrepit, rotting "economy" or they bankrupt everyone and roll you under their control.
Domo arigato!
*KURODA: BOJ WILL DO WHATEVER IT TAKES TO END DEFLATION our economy...
Did anyone bother telling them what happens when they cant pay there debt because created inflation? (Bond yeild = inflation + time premium + risk premium) and they are what 225% debt to gdp last I checked? so what happens when they go from -1 to 2+ percent inflation? can they afford 3% higher borrowing costs? can you say law of unintended consiquences... how stupid are these people?
The only thing left to do is a zerg rush. Then if that doesn't work, summon Godzilla. If that doesn't work... harakiri!
WE could release the kraken as well.
Night Of The Long Knives - East Liberty Style
http://chartistfriendfrompittsburgh.blogspot.com/2013/03/night-of-long-knives-east-liberty-style.html
Has Japan learned nothing? Look at the Euro today. It opened above 1.30 and closed around 1.28. All they had to do was confiscate some bank accounts. If Japan really wants a weak Yen all they have to do is start stealing. Is this so hard?
Stop giving them ideas, Fonz
At this point my ideas are so demented I am starting to think I am applying for a job I abhor.
Maybe the whole Cyprus experiment was only meant to give Kuroda-san and uncle Ben some leeway so they can print more?
Honestly Japan was the first country I thought of when heard about cyprus, what else are they going to do when the get inflation going and cant afford to pay for their bonds cause the rates went up? but in reality will just end up with massive inflation most likely. when will these countries learn the only way out is to stop spending money you dont have.....
now THAT is excellent gallows humour
Simple way out of the problem, and a long forgotten Japanese tradition. Start a war............
Great idea the last one ended so well
Hmm. Too bad there aren't some islands with oil/gas under them that could be used to rally the population to war. But that idea what would too obvious -- the population would say "but why are these islands that were in dispute for decades suddenly such a big deal?" Right? Wouldn't they?
You can bet on it. Both China and Japan are itching for the false flag.
Japan seems to have "the teflon currency". Even when Japanese central bankers make statements that might cause major panic in other countries, the yen just ignores them. I guess the Japanese have experienced deflation for so long that they just don't believe that inflation is possible.
Kyle Bass is salivating at the prospect.
Kuroda should just print the yen like crazy and lend it to EU countries. That shoud tank the yen and give Europe some money to buy Japanese products. The problem solved, for the short term. In the long run, we all know fiat currencies are doomed.
Radioactive economy...
No, no, no... Jeez, you and Dieselboom need lessons in Sheepspeak.
"The economy is glowing."
Say it with me...
If the BOJ really wants to devalue the yen, they should open a new mint at Fukushima. The yen would then really be "hot money".
Greater fool theory will only last a little while longer at this point.
Japan might jawbone a lot but when they run out of bubble gum...I love EUR/JPY right now. It is now proven that all private bank accounts will be liquidated before the printing of any new Euros. Don't they get free USDs anyways?
correct me if I'm wrong but isn't deflation someone's savings gaining in buying power?
Its all about P.O.V. one has to guess...
Japan needs to do what " helicopter Ben " has described: give money to the people ( in some sort of sliding scale give and take ). No banker intermediaries; money to the people to spend as they like. Give to the people as directly as possible. Inflation, which can mainly result from too many Yen chasing too few products and services, is still far away in Japan and can be controlled by BOJ interest rate policy. Hello, Abe-san, are you reading my brilliant and creative solution to Japan's problem ?
So when will the prices of Hondas and Toyotas start reflecting the yen haircut? How about a Lexus with that 20% currency discount???
In Japan they still believe in magic--"I believe, I believe, I believe"
Delegate to prepared and capable high quality wedding dresses assistants. Bridesmaids, mothers, sisters, good friends? A lot of people today provide to help. Let them. Ask one to exploration florists, an additional photographers. bridesmaid dresses Let them know your budget and also have them put with each other their suggestions and after that cheap cocktail dresses you'll be able to pick. It genuinely could be a lot of entertaining for everyone concerned.
KURODA: BOJ WILL DO WHATEVER IT TAKES TO END DEFLATION.
*****
According to popular ZH belief...you cannot have defaltion with a fiat currency?
KURODA: THE LOOTING WILL CONTINUE UNTIL MORALE IMPROVES
There has been so much reflation in Japan for the last 20 years than anything new will have the same effect as electroshocks on a dead body. The frightening fact is that Japan is swimming against the tide of an aging population. In a few years Japan will be the first country where -1% will be considered as "growth"! (This is already the case for some faraway prefectures: Iwate is at - 2.79% for 2012 and Fukushima, the worst is at - 3.38% but for "other" reasons.
So. They're going to end deflation by creating more debt?
They realise that deflation is caused by the debt? Yes? No? What do you mean no? Haven't these people thought critically about where and how the money is vanishing and causing deflation?
No you say?
What kind of retards do we have in charge the world over?
Hanlon's Razor? What's Hanlon's Razor?
But you don't get to the top by being stupid. Stupidity doesn't adequately explain what's going on.
So if they're not stupid they must just be evil fucks...
Wake me up when they start printing paper, not credit.
Apple must be cheating or something: there's been "deflation" (sic) in the electronics industry for decades now. Phones and computers get cheaper by the day! How is it possible that Apple makes any money when prices are falling???
Oh, I guess they just actually produced things while production costs fell even faster.
Well then, carry on...