@telegraphnews makes two important points about #CurrencyWars. Biggest offender is the U.S. & biggest losers are savers bit.ly/YrYx3n
— Jim Rickards (@JamesGRickards) February 2, 2013
Max Keiser
Financial War Reports
@telegraphnews makes two important points about #CurrencyWars. Biggest offender is the U.S. & biggest losers are savers bit.ly/YrYx3n
— Jim Rickards (@JamesGRickards) February 2, 2013
I think there’s a bigger story here concerning the Bank of Japan. The clue is the Germans who talk about this “threat to bank autonomy.” What this really means is that the global bankster cartel have been in control of the BoJ for 20 years and have been setting policy that favour global banker policy at the expense of Japanese domestic needs.
Japanese governments have been tried to get back control of the BoJ for a few years but the PMs and finance ministers who try it get booted out. This is why you have around 5 governments is the last seven years. This is another attempt to do just that with the current governor been replaced in April with a more pro-goverment control governor.
Look at John Carney’s response to a question about this at Davos.. He muttered “this cannot stand” and stared down the Mexican banker who asked the question. This means puppet masters are furious with the Japanese government.
We will have to wait and see what will happen but if the Japanese really do pull control from the global cabal and take it back Then it’s the beginning of the end for global bankster control.
A lot of people point out that Japan is massively in debt with ratios above 200% of GDP but look again. Nearly all that debt was raised internally. The reason the ratio is so high is because unlike other economies you didn’t have 20 years of inflation whittling it away in current prices. If you took the debt of other countries like the UK and priced the debt in 1992 sterling to current GDP in 2013 sterling it would be much worse and this debt is mostly foreign held.
A state run BoJ only has to service this internal debt which it could do easily if it had domestic stimulus causing actual growth. If they can get away with this then expect South Korea, Indonesia and then the Philippines to have to do the same.