Around the World in Yen
To put this in perspective, Japan spent a record 18 trillion yen so far this year to curtail the yen's strength and protect the country's exporters, which contributed two thirds of Japan's economic growth in the third quarter.
"The government needs to send a clear signal it can keep selling yen, no matter how much is needed," said Hiroaki Muto, a senior economist at Sumitomo Mitsui Asset Management Co.
How will they get this money? They will print it.
It seems we are in a new paradigm: wealth, true wealth, can be created just by printing money. Why didn't we figure this out before?
So Japan will turn up the copy machines even more in order to buy our copied dollars.
And around and around it goes.
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