Posted on 04/04/2013 9:02:33 PM PDT by Lorianne
Central bankers have gone totally mad. The stunning news of toady is a new pledge by Japan to double its monetary base in two years as the Bank of Japan Unveils Aggressive Easing.
The Bank of Japan will aim to double the monetary base over two years through the aggressive purchase of long-term bonds, in a dramatic shift aimed at ridding Japan of the deflation that has dogged the country for almost two decades.
Haruhiko Kuroda on Thursday announced his arrival as central bank governor with a “new phase of monetary easing”, a move that comes after Prime Minister Shinzo Abe told the bank to target a 2 per cent rate of inflation.
“We can’t escape deflation with the incremental approach that’s been taken until now,” Mr Kuroda said after the announcement. “We need to use every means available.”
“I am confident that all the policies we need to achieve 2 per cent inflation in around two years are now in place,” he said. Yen Plunges
As one might expect on such a surprise announcement, the Yen had a spectacular plunge.
(Excerpt) Read more at globaleconomicanalysis.blogspot.com ...
“The stunning news of toady...”
Toady reporting live from the pond.
Bernanke said, “Them’s fighting words.”
Japan is simply responding to the trillions out Fed is dumping. I’ve read this book. It doesn’t have a happy ending.
We wonder why ppl hundreds of years ago believe the stupid things that they do? Now you know. Look at all the “experts” today believing the same thing that are wrong. From global warming to devaluing your currency is the best road to prosperity
So much for Asians being good at math.
It reminds me of THE TRUTH ABOUT CHERNOBYL. The reactor was "dying" and they didn't want to have to go through a 3 day restart, so they started pulling the rods out, and pulling the rods out ...
What if the Yen keeps falling and can’t be stopped. China must be furious since they are holding all this debt from China and US.
Trump said it best “If you owe the bank thousands, then the bank owns you. If you owe the bank millions, then you own the bank.”
Japan now joining the party that the US Fed started...
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