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- Apr 26, 2011
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Japan is staggering under economic stagnation, chronic debt and nuclear disaster, and now George Soros and Goldman Sachs are to debase the Yen. Soros and his employee, the Tokyo-based hedge fund manager Takeshi Fujimaki, raised unfounded fears by predicting Japan would soon default on its huge public debt.
Soros had an ace up his sleeve in Shinzo Abe, who called for the Bank of Japan (BoJ) to print money to create an annual 2% inflation. Since the lending rate is near zero, the BoJ would lose billions annually from the fall of the yen, depleting the treasury and prompting investors to dump government bonds. The Japan may be forced to default, bankrupting millions of pensioners and homeowners.
Armed with insider information, Soros gained US$1.2 billion in 3 months by shorting the Yen.
Abe is appointing supporters of lax monetary policy to head the Bank of Japan: Haruhiko Kuroda, and Kikuo Iwata, an economics professor who advocates drastic expansion of the money supply.
They have yet to explain how bankrupting the BoJ can restore the economy. No matter how cheap it is to borrow, manufacturers will continue to move their factories overseas and streamline their office staff. The cost of borrowing has no major influence on corporate restructuring. Worsening matters, consumers faced with higher prices for imports, will purchase even less, further curbing domestic spending.
While a cheaper Yen supposedly make manufactured goods more competitive in overseas markets, the fatal flaw is capital flight as banks, financial institutions, corporations and individual savers will see their wealth shrink by holding onto or borrowing Yen. The result will be full-blown depression, a contagion that will spread.
George Soros is actually Gyorgy Schwartz and in response to media exposes of his Nazi associations, Soros admitted to having worked for his father, who served as an accountant for the Nazis.
During World War II, many Hungarian Jews joined the Arrow Cross Party, which ordered the confiscation of Jewish properties. Fascist Jews with the Arrow Cross Party, began to collect the valuables of the Jewish elite. On the train to Germany, confiscated wealth of the Jews filled 19 boxcars. Gyorgy Schwartz and his father were among those Jews who robbed their fellow Jews on behalf of the Nazis.
Soros had an ace up his sleeve in Shinzo Abe, who called for the Bank of Japan (BoJ) to print money to create an annual 2% inflation. Since the lending rate is near zero, the BoJ would lose billions annually from the fall of the yen, depleting the treasury and prompting investors to dump government bonds. The Japan may be forced to default, bankrupting millions of pensioners and homeowners.
Armed with insider information, Soros gained US$1.2 billion in 3 months by shorting the Yen.
Abe is appointing supporters of lax monetary policy to head the Bank of Japan: Haruhiko Kuroda, and Kikuo Iwata, an economics professor who advocates drastic expansion of the money supply.
They have yet to explain how bankrupting the BoJ can restore the economy. No matter how cheap it is to borrow, manufacturers will continue to move their factories overseas and streamline their office staff. The cost of borrowing has no major influence on corporate restructuring. Worsening matters, consumers faced with higher prices for imports, will purchase even less, further curbing domestic spending.
While a cheaper Yen supposedly make manufactured goods more competitive in overseas markets, the fatal flaw is capital flight as banks, financial institutions, corporations and individual savers will see their wealth shrink by holding onto or borrowing Yen. The result will be full-blown depression, a contagion that will spread.
George Soros is actually Gyorgy Schwartz and in response to media exposes of his Nazi associations, Soros admitted to having worked for his father, who served as an accountant for the Nazis.
During World War II, many Hungarian Jews joined the Arrow Cross Party, which ordered the confiscation of Jewish properties. Fascist Jews with the Arrow Cross Party, began to collect the valuables of the Jewish elite. On the train to Germany, confiscated wealth of the Jews filled 19 boxcars. Gyorgy Schwartz and his father were among those Jews who robbed their fellow Jews on behalf of the Nazis.
