Japan's Printing HOW Much? - Granite Grok

Japan’s Printing HOW Much?

Credit ZeroHedge.com
We’d have to print $200Bn/Mo to match the BoJ
Credit ZeroHedge.com
We’ve been warning for some time of currency wars (competitive devaluation), which is the 21st century equivalent of the 1930s “beggar thy neighbor” tariff policies.

Late last year, when campaigning for election as Prime Minister, Shinzo Abe made it very clear that deflation was his fear, and reflation was his plan, not to mention the Yen was too high against other currencies.

Jawboning helped lower the Yen somewhat, but Abe wanted to really make an impact with monetary “Shock and Awe” tactics, and did not rest until he persuaded the Bank of Japan to print like banknotes were going out of fashion – and they just might after this!

How aggressively? Almost three times faster than Helicopter Ben, relative to the size of their economy.
HOW aggressively? Enough to raise the number of Yen per Dollar to from 93 to almost 98, in a few hours!!
HOW AGGRESSIVELY? Enough to crater and then spike Japanese Government Bond yields, blowing all the “fuses” on their bond market. (13 Sigma)
HOW AGGRESSIVELY? Enough to drive Japanese institutional investors into US Treasuries for ‘safety’!

And enough for William Banzai 7 at ZeroHedge to roll out some of his best work:

Mock Bank of Japan Note featuring the architect of Weimar inflation, Rudolf Havenstein
Mock Bank of Japan Note featuring the architect of Weimar inflation, Rudolf Havenstein
Note the falling zeroes and the ‘Water soluble’ inscription!

Money printing, it's Da Bomb!
Money printing, it’s Da Bomb!

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