In this world of paper money system, policymakers seem to have a single designated solution to every economic problem: policies that leads to the destruction of their currencies via the printing press.
From Reuters, (bold emphasis mine)
Japanese Finance Minister Yoshihiko Noda said he was closely communicating with the Bank of Japan and other countries on how to address the yen's recent rise.
Sources familiar with the BOJ's thinking also said the central bank will consider easing monetary policy this week as the yen is trading near a record high against the dollar. "Investors' main concern is the possibility of intervention and the yen's moves, so while the market may weaken, hit by concerns about the U.S. economy, losses could be limited to around what the market gained yesterday as investors may be cautious about selling," said Kazuhiro Takahashi, general manager at Daiwa Securities.
These people have not learned from the March 18th intervention which hardly stopped the Yen from rising.
It’s also another sign why major economies, as Japan, would continue to flush the world with money from thin air which may lead to market asymmetries and higher commodity prices.
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