{"id":1089,"date":"2014-11-04T08:24:23","date_gmt":"2014-11-04T13:24:23","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1089"},"modified":"2014-11-04T08:24:23","modified_gmt":"2014-11-04T13:24:23","slug":"its-currency-war-and-japan-has-fired-the-first-shot","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1089","title":{"rendered":"It\u2019s Currency War! \u2013 And Japan Has Fired The First Shot"},"content":{"rendered":"<p><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/its-currency-war-and-japan-has-fired-the-first-shot\">It\u2019s Currency War! \u2013 And Japan Has Fired The First Shot<\/a>.<\/p>\n<p style=\"display: block; padding: 0px; margin: 1em 0px 1em 0px;\">This is the big problem with fiat currency &#8211; eventually the temptation to print more of it when you are in a jam becomes too powerful to resist.\u00a0 In a surprise move on Friday, the Bank of Japan dramatically increased the size of the quantitative easing program that it has been conducting.\u00a0 This sent Japanese stocks soaring and the Japanese yen plunging.\u00a0 The yen had already fallen by about 11 percent against the dollar over the last year before this announcement, and news of the BOJ&#8217;s surprise move caused the yen to collapse to a seven year low.\u00a0 Essentially what the Bank of Japan has done is declare a currency war.\u00a0 And as you will see below, in every currency war there are winners and there are losers.\u00a0 Let&#8217;s just hope that global financial markets do not get shredded in the crossfire.<\/p>\n<p style=\"display: block; padding: 0px; margin: 1em 0px 1em 0px;\">Without a doubt, the Japanese are desperate.\u00a0 Their economic decline has lasted for decades, and their debt levels are off the charts.\u00a0 In such a situation, printing more money seems like such an easy solution.\u00a0 But as history has shown us, wild money printing always ends badly.\u00a0 Just remember what happened in the Weimar Republic and in Zimbabwe.<\/p>\n<p style=\"display: block; padding: 0px; margin: 1em 0px 1em 0px;\">At this point, the Bank of Japan is already behaving so recklessly that it is making the Federal Reserve look somewhat responsible in comparison.\u00a0 The following is how\u00a0<a style=\"color: #4f809e; font-weight: bold; text-decoration: none;\" title=\"David Stockman\" href=\"http:\/\/davidstockmanscontracorner.com\/the-boj-jumps-the-monetary-shark-now-the-machines-madmen-and-morons-are-raging\/\" target=\"_blank\">David Stockman<\/a>\u00a0summarized what just happened&#8230;<\/p>\n<p style=\"display: block; padding: 0px; margin: 1em 0px 1em 0px;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s Currency War! \u2013 And Japan Has Fired The First Shot. This is the big problem with fiat currency &#8211; eventually the temptation to print more of it when you are in a jam becomes too powerful to resist.\u00a0 In a surprise move on Friday, the Bank of Japan dramatically increased the size of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[57,188,452,661],"class_list":["post-1089","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-bank-of-japan","tag-currency-war","tag-japan","tag-qe"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1089"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1089\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}