Bank of Japan in boldest attempt yet to revive economy

Comments (4)
ttolstoy wrote:

The completely self-interested greed mongers, who seem to be a majority of the people working in the finance, are completely devoid of a sense of right and wrong. They are more than willing to steal if they think they can get away with it. That, of course, is what printing money does. It steals the value of the money that people have saved after years of working. It seizes the value of grandma and grandpa’s CDs and forcibly transfers it to Goldman Sachs and JP Morgan and, in the case of Japan, Mitsui Bank and the like.

When a central bank “buys financial assets”, as in QE, it does not “jump start” anything. It cannot, because people lose faith in the system, and that causes an even bigger pullback from involvement. What it does do is blow bubbles that speculators can make lots of money off of, if they are closely connected with the central bank involved.

Flood the financial world with counterfeit money causes commodity markets to soar. It also temporarily pumps up stock and bond values, but those increases are destroyed within a few years, by the debasement and devaluation of the currency. It is shameful, and illustrates the reason why money must be made of hard metal. Human beings are proving themselves far too corrupt to handle the level of capricious discretion allowed to them by the fiat money system does.

Jan 22, 2013 1:37am EST  --  Report as abuse
StigTW wrote:

So now we have 2 countries printing money to infinity… Anyone else feel like joining in?

Jan 22, 2013 4:01am EST  --  Report as abuse
Free_Pacific wrote:

When a country puts their massively imbalanced loot bag into your currency, to ensure it stays high to prevent you from exporting (A strategic policy aimed at hurting you), this is bound to happen. Firstly, it reduces the value of the currency they bought and secondly, it makes your currency devalue to a place where you can be competitive again.

This is not printing money for the sake of it, this is a measured, strategic and controlled printing, aimed at leveraging control of the economy back to where it should be. Even robust developed nations in the region have toyed with the idea, nations that don’t even have huge deficits or debts. During round the lunch room debates, those vehemently against, are currency speculators.

Jan 22, 2013 4:36am EST  --  Report as abuse
VonHell wrote:

“robust developed” nations that “toy” with the idea of printing money… mmm US … and nowJapan … because if they dont have huge deficits and debt, they dont need to…lol
But i agree it is a “a measured, strategic and controlled printing” aka calculated bet…
As the miss interpretated minister said before… he hopes the devaluation of the yen would not hurt living standards… lets just pray Sony, Panasonic, Sharp and cia manage to sell more of the products noone seems wishing to buy… and hope they will pay more to their employees instead shifting production overseas… the same with the contractors feasting on the extra budgets with fancy names… that all those things compensate the rising living costs… despite the strong sensation that the people will pay the price in the end and few people and companies will gain a lot…
Lets pray too for no conflict with Iran… or the gasoline will rise above 180…
And lets pray that the small coalition party, Komeine or something like that, sent to China to settle tha island issue convinces the chinese gov to let the “matter to future generations” lol… and dont get their asses kicked instead…

Jan 22, 2013 7:40am EST  --  Report as abuse
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