The Bank of Japan (BoJ) added to their stimulus measures for the third time this year. Central bankers have standardized Quantitative Easing (QE) operations [euphemism for money printing] as their principal tool for crisis management.
And this serves as another “I told you so moment”.
From the Marketwatch.com
The Bank of Japan on Friday said it will increase the size of its asset purchase program by 5 trillion yen ($61.88 billion) to a total of ¥70 trillion, while leaving its policy interest rate in the current target range of 0% to 0.1%. The increase in the size of the asset purchases, a quantitative easing measure aimed at improving demand, compared with the ¥5 trillion to ¥10 trillion addition that was already priced in by markets, according to a Reuters report. The BOJ said it would increase purchases of Japanese government bonds by about ¥10 trillion, while adjusting lower its purchases of another type of asset by ¥5 trillion.
This really has not been about “demand” which functions no less than a masquerade or an excuse to justify such repressive redistributive political action.
But all these has been about the stealth grand collaborative scheme to sustain and preserve the 20th century political institutions built around the cartel of the politically privileged banking system, the welfare (and warfare) state and central banks, through bailouts in the form of financial repression and inflationism.
To reiterate, as a universal rule, inflation is a policy that will not last.
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