Japan's Incompetent Equivalent to Fed's Bernanke

We knock Fed Chair Ben Bernanke often for his continual sabotage of savers and destruction of the value i.e. purchasing power of the US Dollar...

Everything we've ever written on the man and the Fed has been negative, at times brutally harsh and 100% deservedly so..

Seems he's not the only Vile, Evil currency saboteur on the planet...

Japan has their own version-- his name is Haruhiko Kuroda and he runs the Bank of Japan..  OK, so what makes this guy as dangerous to his nation and global economy as Bernanke?

Well.. let's let Reuters answer for us (in blue font)..

"The Bank of Japan unleashed the world's most intense burst of monetary stimulus on Thursday, promising to inject about $1.4 trillion into the economy in less than two years, a radical gamble that sent the yen reeling and bond yields to record lows.

New Governor Haruhiko Kuroda committed the BOJ to open-ended asset buying and said the monetary base would nearly double to 270 trillion yen ($2.9 trillion) by the end of 2014 in a shock therapy to end two decades of stagnation..."

~  The equivalent of $2.9 Trillion dollars for a nation a little more than 1/3rd the population the US and 1/3 America's GDP.   That would be the same as that piece of shit Bernanke committing the US to $8.7 Trillion dollars of open ended QE..

And do you think Japan can ever repay it?  Yeah, right..

"This is an unprecedented degree of monetary easing," a smiling Kuroda told a news conference after his first policy meeting at the helm of the central bank.  "We took all available steps we can think of. I'm confident that all necessary measures to achieve 2 percent inflation in two years were taken today," he said.

~ Only the pathologically Insane or professional Investors (no real difference) would smile at such a dangerous and ultimately disastrous course of action.

And here's the Interesting part.. to the average reader, it would sound like the goal was to curb inflation to 2%... Nope.. Kuroda's goal is to Create inflation..   So you take the combination of creating a rate of inflation where prices continually rise, stagnant wages and killing savers, and you have an utter mess for the bottom 99% of Japan...

Looks like Kuroda's a good disciple of "Shogun" Bernanke

* Shogun -- hereditary military dictators of Japan from 1192 to 1867

"The scope of the changes Kuroda pushed through, and the fact he secured unanimous board support for them, drove the yen down sharply, knocked the 10-year bond yield to a record low, and nudged Tokyo share prices just shy of a 4-1/2 year closing high."

~  Currency is Down.. Bonds are Down.. Japan's Nikkei market Up..  The elite quite happy...   Notice any similarities?

So what does this all mean?

In Summary:

1) The world is in a currency war... A never-ending war to see who can devalue their currency the quickest and most dramatically.  China's done it for years... US is doing it.. The Eurozone, Japan, South America..

Everyone who can do it, is...

2)  Will this hurt everyday people? -- Of course.  Will this ultimately trigger a trade war somewhere in the world or globally? -- Oh, sure..   Could this be the beginnings ultimately of another world war?  Been following the script of the early 1930's so far...

All that's really missing is a fascist up-swell.  Greece has its Nazi-like 'Golden Dawn' party making inroads with its people.. What European nation will be next?

3)  How will it hurt people.. all this continual, never ending QE?  Currency devalued of course... takes more little pieces of paper or binary 1s and 0s to buy products/services while wages and social benefits remain stagnant.  Forces people to eat quicker into savings or expand debt load to maintain standard of living..

All part of central government's plan.

What can we say?  When the peoples of the world are finally awaken to the reality of the level of sabotage by their governments against them and are 'Mad as Hell' to quote the movie 'Network', we'll start handing out the pitchforks..

Until then.. let's relax with nice warm saki, watch TV and continue pretending all is well