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Do Not Show This Chart To Bank Of Japan Governor Kuroda
As another example of "has the world gone mad?" - we present the following words of wisdom from BoJ Governor Kuroda-san:
- *KURODA DOESN'T SEE ANY ASSET BUBBLE OR STOCK MARKET BUBBLE, OR ANY 'FINANCIAL EXCESS' IN ECONOMY
And in the interests of sanity, we highly suggest he not look at the chart below...
And while on the topic of utter insanity, ask yourself - as you read his statements of perplexing blind ignorance - just what happens to BoJ capital when his $95 billion equity portfolio suffers a 2%, 10%, 50% sell-off?
We suspect he wouldn't be laughing as much had he seen the Bank of Japan's dreadful underperformance of the market in the last few years...
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If you had eyes like that you couldn't see anything, either
Ahhhh! Soooooooooooo!!!
Maybe I don't understand how central banks work so someone can explain this to me.
" just what happens to BoJ capital when his $95 billion equity portfolio suffers a 2%, 10%, 50% sell-off?"
Nothing right? How does an entity with a printing press go about losing money? I mean fuck...the national debt of Japan is 10 trillion 1 hundred billion dollars. Even a total loss of $95 billion doesn't seem like a lot when juxtaposed against all these trillions that can just be printed ad infintum.
Look at this shit. This shit gets printed willy nilly:
http://www.zerohedge.com/article/fed-releases-new-pomo-schedule-monetize...
Kuroda is an idiot ! But then, that's a job requirement for someone in his position...
The job requirement is actually a willingness to get up and say this ridiculous shit in public when the masters tell you to do so.
Nobody is forcing Kuroda to do the retard talk. He could show some integrity and tell the truth, or at least STFU and pretend he still has half a brain functional. But then (as said), he's an idiot...
No. Well paid to do what he is asked for.
"what happens to BoJ capital when his $95 billion equity portfolio suffers a 2%, 10%, 50% sell-off?"
BoJ could suffer a 45 Billion hit to bank capital.
http://www.yardeni.com/Pub/peacockfedecbassets.pdf
BoJ has a 190 Trillion yen balance sheet. That's about 1.7 Trillion dollars
on their Balance sheet.
I can't find a good current number for their book equity. If interest rates rise,
they are screwed worse then anything else
I can't find a good current number for their book equity. As somebody noted the other day - its a fucktillion.
What else could he possibly say?
Similarly, our Fed sees no inflation, no bubbles, no issues with negative rates on sovereign bonds, no negative consequences whatsoever of extreme untested monetary policy. It's a free lunch to them. They didn't see the late 90s stock bubble or the real estate bubble either, so why should they start seeing bubbles now?
It's all good bitches, until someone gets hurt.
That laugh is not one of levity but of madness.
Good catch. They took his tie away from him so he doesn't hang himself.
Funny. The truth is even funnier...or sadder.
The lack of tie is the the government mandated "Cool Biz" program whereas attire for business is relaxed (sans tie perhaps the most visible aspect) in order to make the workday more comfortable so as to save energy from air conditioning. The government decides when the summer begins and ends. When "Cool Biz" season is over, the ties go back on.
The retail clothing industry, which now markets extensive "Cool Biz" clothing lines for the salarymen, is, of course, ecstatic.
Japan: byzzaro world(s)...
But very interesting country, even the weird things.
THe first rule of blowing asset bubbles is that you don't talk about blowing asset bubbles.
$95billion equity portfolio??Please son, how about Janet's $4trillion bond book. What'll that look like with a 50% correction with the labor force at record lows??
Sum ting Wong!!!!!
I dont think it is perplexing blind ignorance, more like epic incompetence, seems all the rage these days..
Please do not worry.
Again, for the 5,000th+ time, Why would anyone believe anything a central banker or politician says?
They are nothing but professional liars, thieves and traitors to the U.S. people who they were supposed to represent.
Sad days for Amerika. The crooks are in total control of the country from the absolute top to bottom.
They are not traitors to the U.S. people...Because you are not one of the "People" of the United States. You are a citizen calling yourself a name that is the property of the state you live in (franchisor and frnchisee).
Here is the definition of the word "name": the dsignation of property given by the owner thereof.
The banks and politicians ARE representing the "People" of the United States...but that is not you...Because YOU are a citizen.
what happens in japan stays in japan.
japan is of no consequence to the global economy until usg can bait them into war with china.
IMF tells BOJ to keep printing so macro hedge funds can keep the layup long Nikkei trade going. BOJ tries to jam yen down into mud. Short covergin rally on deck for next week.
Kuroda is Abe's 4th arrow. When arrow trajectory going up, please.....do not worry....
well to be fair, it could be the otherway this time (i.e. JGB yields skyrocket). I cannot deny that it what I am hoping to puncture the global economy bubble
If BoJ plans on inflating away debt, wouldn't it make sense for them to buy Japan equities and as many claims on other economies as possible? Wouldn't they also cordinate this strategy with the pension fund?