Friday, September 17, 2010

Yen intervention

http://www.ft.com/cms/s/0/43627416-c074-11df-8a81-00144feab49a.html

Now that the Bank of Japan has manipulated the yen down, will they draw criticism from the US for "currency manipulation", as they have from Europe? The US has already pointed fingers at China for currency manipulation. Could it be that all sovereign governments are manipulating their native currencies down in an attempt to stimulate their exports? Guess which store of value wins when paper currencies race each other to the bottom? I'll give you two guesses. And they're not colored pieces of paper.

No comments:

Post a Comment