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More On The 2011 Edition Of US-Japan Open Currency Warfare: "This Is Just The Beginning"

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Wed, 08/03/2011 - 22:03 | 1522660 rubearish10
rubearish10's picture

Never long enough, never short enough.

Thu, 08/04/2011 - 05:14 | 1523097 NewThor
NewThor's picture

I smell Inflation3.


Wed, 08/03/2011 - 22:03 | 1522662 Yen Cross
Yen Cross's picture

  Time to fire up the ' Japanese lanterns'...  I can't wait for the volatility to kick in on usd/jpy.   I guess the exporters ( Real Money) are starting to get the clue

Wed, 08/03/2011 - 22:04 | 1522664 SolidSnake961
SolidSnake961's picture

don't worry its just a transitory move. this also explains the little pop up gold just had

Wed, 08/03/2011 - 22:38 | 1522734 Spitzer
Spitzer's picture

Buying dips in gold is for idiots. I have bought all time highs twice and made off good.

Thu, 08/04/2011 - 00:02 | 1522921 Thomas
Thomas's picture

I have bought every short term peak since 1999.

Thu, 08/04/2011 - 00:48 | 1522985 Yen Cross
Yen Cross's picture

 Ya right! May of  )(09?

Thu, 08/04/2011 - 01:21 | 1523009 DoChenRollingBearing
DoChenRollingBearing's picture

Spitzer and Thomas are completely right!  Just buy the gold when you have the money!  I have bought mostly at peaks too, that then those peaks went on to recede into little bumps on the road to ever higher gold prices.  It's OK to BTFS!

I have been buying gold in small amounts sionce the 1980s.  It has ALWAYS seemed expensive.  Maybe it is SUPPOSED to feel that way...

I believe that the ridicilous Debt Ceiling Agreement pretty much lock in a QED for much higher gold prices.  It seems ludicrous to me to say that gold is in a Bubble at $1660 or so.  It is CHEAP!

Oh the wailing and gnashing of teeth if we get FOFOA-like numbers in the price of gold among those who did not buy...

Thu, 08/04/2011 - 01:42 | 1523018 Caviar Emptor
Caviar Emptor's picture

The one dip I bought was the big one, November 08 just below 800, the very last time premiums were actually cut. 

But all the rest of my buying turned out to be short term 'peaks', always seemed 'expensive' but I bought anyway and always felt good to have it. Felt even better later. 

And yes, gold is still cheap. We got a long way to go with this unfolding story for the ages. And consider this: if they really screw up with bad decisions, gold will be your only friend

Thu, 08/04/2011 - 01:11 | 1523005 Expat2000
Expat2000's picture

I would buy a dip, but there aren't any, so....

Thu, 08/04/2011 - 01:23 | 1523011 DoChenRollingBearing
DoChenRollingBearing's picture

So, you should buy gold anyway. Do it ASAP.

Wed, 08/03/2011 - 22:05 | 1522666 frank888
frank888's picture

I have heard the following...

The Chineses are pushing the YEN higher and higher  to make the Japanese companies not competitive and so to force them to delocalize their factories in China !


What do you think about it ?

Wed, 08/03/2011 - 22:42 | 1522746 Cdad
Cdad's picture

Anti competitiveness is China's stock and trade, especially through currency manipulations.   

Wed, 08/03/2011 - 23:39 | 1522883 Raskolnikoff
Raskolnikoff's picture

That's the utter joke about free trade, there never is any nor will there be, as the big guys have stuffed so much investment into China that we'll never get the tariffs we need to try to bring any semblence of balance back to this game. We Americans are fighting this global war the wrong way, we're sending our youth and our resources to Iraq and Afghanistan to get chopped up and what we should have been doing was an open economic war on slave labor, polluters and tyrants who hypocritically cry global warming while destroying as much atmosphere as they could for this yankee buck. It would have required tremendous economic sacrafice and will to have waged this real war but in stead we tried to cheat and have our cake and eat it too, and we gave all of our enemies our money for cheaper crap that won't even last a few months of use.

Thu, 08/04/2011 - 00:31 | 1522964 Raymond Reason
Raymond Reason's picture

Molodetz, Dostoevsky!  And then there's funding the Sunnis against the Christian Serbs...for decades.   That is particularly disgusting.  We'll be caught with our pants down eventually....our youth on many front lines with dwindling supply lines.  I want dual passports. 

Thu, 08/04/2011 - 04:21 | 1523083 prole
prole's picture

Well we slaughtered a Christian people and a new Islamic Republic was born in Europe of "our" efforts. I guess "we" have to occupy our efforts these days to wiping out any remaining Christians in Iraq and Syria.

Wed, 08/03/2011 - 22:06 | 1522672 papaswamp
papaswamp's picture

Here we go beotchez!....currency war followed by trade war followed by war war.....those aztecs may have nailed it for 2012.

Wed, 08/03/2011 - 23:25 | 1522842 Sunshine n Lollipops
Sunshine n Lollipops's picture

Outside of aliens intervening or the return of Hay-zoose, I think that about sums it up.

Thu, 08/04/2011 - 01:05 | 1523000 Two Towers AU AG
Two Towers AU AG's picture


Thu, 08/04/2011 - 01:38 | 1523017 StychoKiller
StychoKiller's picture

Don't care, but you should be short your CAPSLOCK KEY!

Thu, 08/04/2011 - 11:25 | 1523916 economast
economast's picture

Love the ZH comments.


PS I was tempted to write this in ALL CAPS to see if you would double junk the caps.

Wed, 08/03/2011 - 22:08 | 1522673 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Man the choppers.

Wed, 08/03/2011 - 22:08 | 1522674 zorba THE GREEK
zorba THE GREEK's picture

Instead of buying dollars to bury their currency, the Japanese should use their money to buy cement to bury Fukushima.

Wed, 08/03/2011 - 23:05 | 1522792 margaris
margaris's picture


michio kaku's view exactly.

Wed, 08/03/2011 - 22:09 | 1522675 Mae Kadoodie
Mae Kadoodie's picture

Black hole currency vortex bitchez!

Wed, 08/03/2011 - 22:11 | 1522677 ZX
ZX's picture


let the games begin.  japan can print as much fiat as anyone; . earn nothing and watch your "safe" and you'd think "scarce", (given the price trajectory) "prudent" investment wither under the waterfall of freshly printed nippon ginkos...  why not as much as it takes ?  ditto that for the land of alpenhorns and chocolate.  did someone say "competitive devaluations".  what to do with all that paper.. there's too much, and there's nothing can be done about it other than to watch the market face off against the central bankers.  no prize for guessing the winnner.

Wed, 08/03/2011 - 22:19 | 1522690 Yen Cross
Yen Cross's picture

  JGB's? Good post though!

Wed, 08/03/2011 - 22:40 | 1522744 Don Quixotic
Don Quixotic's picture

I thought all those Goldman Traders get big fat end of year prizes for picking ... ahem... pardon, guessing who wins.

Thu, 08/04/2011 - 09:14 | 1523425 BigJim
BigJim's picture

I keep hearing about the Japanese suffering from the dreaded defaltion... can please someone explain to me why they don't just QE like crazy?

Wed, 08/03/2011 - 22:11 | 1522678 Buckaroo Banzai
Buckaroo Banzai's picture

Race. To. The. Bottom.

Wed, 08/03/2011 - 22:22 | 1522693 TaxSlave
TaxSlave's picture

First one to the bottom, reach out, grab the brass ring and .... pull the plug!

Wed, 08/03/2011 - 22:56 | 1522774 rocker
rocker's picture

Did we, (US), not already win this event. LOL  Round "?" has begun in this 10 round event. Is overtime allowed?

Wed, 08/03/2011 - 22:14 | 1522683 Thievery Corporation
Thievery Corporation's picture

This is going to be fun!

Wed, 08/03/2011 - 22:17 | 1522688 slow_roast
slow_roast's picture

Well, that intervention was the easiest money I've made in a hell of a long time.  Thanks Japan...can take profits, put it into gold since that is what will ultimately benefit from these market interventions.

Wed, 08/03/2011 - 22:18 | 1522689 chump666
chump666's picture

'Chairsatan' haha that's a good one.

Funny thing though, this time, this money printing FX war about to go mental.  Equities won't rally hard.  It's all China, the USD, EUR, CHF, YEN all weaken - money will flow into oil and gold...and food commodities.  China will love that since the are a c-hair away from  a major collpase. They go, chairsatan won't be able to do anything.  The world crashes.

Wed, 08/03/2011 - 22:22 | 1522694 Yen Cross
Yen Cross's picture

  Noda is a [ Silver back " Wookie" in Disguise.]

Wed, 08/03/2011 - 22:32 | 1522713 gookempucky
gookempucky's picture

hahahahhhaahaahaha..thanks for laugh YC

Wed, 08/03/2011 - 22:35 | 1522728 chump666
chump666's picture

Japan has become wimpy.  Their crappy politicians are weak and despicable, lying a-holes. Love to see some old school samurai dude come out of retirement and cut their f******* heads off

Wed, 08/03/2011 - 22:56 | 1522772 Rodent Freikorps
Rodent Freikorps's picture

I'd watch that movie.

Thu, 08/04/2011 - 00:42 | 1522956 GoinFawr
GoinFawr's picture

Plus Shirakawa was a Chicago boy.

Wed, 08/03/2011 - 22:31 | 1522708 gookempucky
gookempucky's picture

To much TP thrown into the porclain god has turd busters written all over it.....this paper fiasco has everyone doing double time with the plunger.

Wed, 08/03/2011 - 22:32 | 1522712 monopoly
monopoly's picture

That is one area I never tread in "currencies". Will not touch them but always pay attention to major currencies each day.

Wed, 08/03/2011 - 23:34 | 1522864 DeadFred
DeadFred's picture

The key to playing currencies is to remember that fundamentals are completely irrelevant, the exchange rates go where the currency gods will them to go. Therefore it is a complete crap shoot whether you are right or wrong, much like red vs. black in roulette. (meant to be sarcasm but sadly not). Go against the common wisdom because the currency gods feed off of the positions of the crowd. I just put a small wager on the euro to devalue 6% against the dollar in the next two weeks. Everyone thinks the dollar is going to die so the gods smell their cash. It's kind of like putting a small wager on 00, most likely it just feeds the gods. More power to the ones who can do more than gamble it those waters.

Thu, 08/04/2011 - 00:00 | 1522918 Yen Cross
Yen Cross's picture

  That was an interesting post

Wed, 08/03/2011 - 22:37 | 1522731 Terminal Frost
Terminal Frost's picture

Radioactive air, radioactive water, radioactive government paper.

Wed, 08/03/2011 - 22:53 | 1522770 saulysw
saulysw's picture

Hadn't heard much myself about the progress of the clean up, so I did a bit of a search...


.. and it's not good.

Wed, 08/03/2011 - 22:43 | 1522749 Don Quixotic
Don Quixotic's picture

Isn't Japan bringing a knife to a gun fight on this one? If I remember correctly there's some kind of saying about how that type of thing tends to go...

Wed, 08/03/2011 - 22:48 | 1522756 zorba THE GREEK
zorba THE GREEK's picture

What is really frightening about nuclear power is; That on a scale from how safe it is proclaimed to be by the industry and government, and how it

is depicted on the Simpsons, reality puts it much closer to the Simpsons.



Whoops, posted this on wrong article.

Wed, 08/03/2011 - 22:52 | 1522768 XenoFrog
XenoFrog's picture

An factually wrong comment on the wrong article. You sir are on a roll.

Wed, 08/03/2011 - 22:59 | 1522777 Don Quixotic
Don Quixotic's picture

Good call. No one ever died a slow death from radiation poisoning on the Simpsons. 

And furthermore, tangentially relevant points tied coincidentally by georgraphy will not be tolerated here, sir.

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