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U.S. keeps Japan on currency watch list; warns against intervention

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World Police!

5 ( +15 / -10 )

Cool. 150 here we come.

Sell your Yen until you still can. Or can't. Or won't. Or don't know how. Or buy some Yen so you can sell it until you can.

3 ( +18 / -15 )

OssanAmerica

Today 05:48 pm JST

Cool. 150 here we come.

> Sell your Yen until you still can. Or can't. Or won't. Or don't know how. Or buy some Yen so you can sell it until you can.

You sound like a broken record, don't you get tired of repeating the same thing that really won't make any difference?

I have been here long enough to have seen very low and very high Yen and the panic "sell sell sell" by mostly Americans panicking.

While the rest of the world saw crazy high mortgage rates Japan's remained reasonable, while fuel lines, 0anic buying and high prices happened/happen in other developed countries, Japan's prices remained reasonable no panic buying.

As the old British WW2 poster would say "Keep clam and carry on"

Which is what the Japanese do while the "Gaijin" go online and panic.

-1 ( +12 / -13 )

I wish I had bought gold

1 ( +7 / -6 )

This currency weakness is due to bad management. Not watch other currencies but your management.

-1 ( +5 / -6 )

Don't worry. At the end of the day, Japan always listens to its master.

-7 ( +6 / -13 )

Even considering bringing some of my dollars to Japan and putting a down payment on a house. Japan is on firesale.

Fire sale?

I would like to know where you live.

House prices in our shitamachi area are up and rising fast, my place I bought 2 years ago is now worth way beyond my means if I was shopping for a home now.

I guess if your dollars convert at a high enough rate and no loan then I guess you can find a good deal.

0 ( +4 / -4 )

Really? Do I need to remind you of toilet paper? Japan was the first country to start panic buying after China.

Yeah I figured someone would say that.

Lean the difference between economic and natural disaster.

BTW pretty much every place did the same.

Now tell us when (outside a natural disaster) was there gasoline panic buying, when did Japan have 15% plus mortgage rates (hint Japan has even gone as high as 10%. 9, 6%(?) 1973 was the highest)

Get real, Japan has a different way of seeing and doing and it isn't perfect but we have avoided the real problems the west got.

-4 ( +3 / -7 )

The pot calling the kettle black. US currency is the biggest threat right now to the world economy stability.

0 ( +7 / -7 )

Japan can therefore use the same criteria to monitor the American use of the USD. A fair response I would say.

4 ( +7 / -3 )

What are the politicians not saying is that the Inflation is now at a rapid course, and it keep getting bigger, while the prices for everything are exploding. No mention about salaries increase since the locals are docile as sheeps and they will never complain about anything and accept every think this corrupt government would say. You will never see here a strike or a protest due to extremely bad management of the Government.

-5 ( +5 / -10 )

This will become a norm, individual countries will answer to a global regulator. The UN will have more power while undermining veto powers of members of the security council. The WHO will gain more power and control as well in terms of declaring health emergencies and protocols. This global government agenda should be a concern because we can say goodbye to our own national interests, individual freedom and independence if this comes into fruition.

0 ( +4 / -4 )

Peter14: "Japan can therefore use the same criteria to monitor the American use of the USD. A fair response I would say."

But they already DO that and insist that everyone stop except them. They have been trying to achieve this depreciation for YEARS as Abe and Kuroda wanted to return to an 80's export-driven economy, but they forgot about the pandemic and how they had closed the borders to foreign travel and didn't take into account the war in Ukraine. Now they want to manipulate the manipulation.

-5 ( +3 / -8 )

Besides, they're only going to intervene enough to keep it at USD ¥120-125 yen... until that backfires, too.

-5 ( +3 / -8 )

The UN is a do-nothing, slightly corrupt, organization. The most we can hope from them is that the harm they do is only small. At the time it was formed, it was the best compromise possible. It is far from perfect.

4 ( +4 / -0 )

I wish I had bought gold

Well if you look at the price of gold in USD it has been pretty flattish this year. In JPY it seems that the price appreciated a lot but this is du to the increase of the USD not the gold itself.

Generaly gold doet not perform very well when interest rates increase because god do not produce any income. As interest go up assets procucind interest like bonds become comparatively more attractive.

2 ( +2 / -0 )

The default is near.

Sell your YEN until you still can!

-7 ( +1 / -8 )

US giving moral lessons about unfair currency practices to the world..

What a pathetic liers, lol !!..

World Police!

World pirates..

0 ( +4 / -4 )

Is this one example of the fair and open international system the US, Japan and others are always talking about?

2 ( +2 / -0 )

Larr Flint

Today 12:43 am JST

The default is near.

> Sell your YEN until you still can

The USA or Japan?

Japan's debt is over 90% owned internally by the bank of Japan, other banks and financial institutions and the Japanese public.

Basically if I borrowed $1 million and $900,000 was borrowed from myself, I don't have much to worry about.

But the USA debt is owned between 30% and 40% by foreign entities including Japan, China and Saudi Arabia.

So Japan defaulting wouldn't make much of a big deal as long as the foreign investors got paid.

The USA well 30% to 40% is a. Big chunk not to pay

0 ( +2 / -2 )

Land of the diving yen

-1 ( +3 / -4 )

The self-borrowed debt narrative is very wrong.

The price of the yen is decided by the other economies.

When people finds out that's there's no real wealth backing up the yen, it will lose all its value.

-3 ( +2 / -5 )

When people finds out that's there's no real wealth backing up the yen, it will lose all its value.

There's no real wealth backing up any major fiat currency, including the dollar. They will all lose their value - the only question is when and in what order. Most countries are headed down the economic drain. After that, if war is avoided, it will come down to fundamentals - functional industries, productivity, social cohesion and work ethic will determine which countries bounce back. Relatively speaking, Japan is not positioned too badly.

0 ( +3 / -3 )

When people finds out that's there's no real wealth backing up the yen, it will lose all its value.

Huh? It's backed by the Japanese economy, the world's third biggest, which provides the world with nearly half its industrial robots, churns out Toyotas, Hondas and Mazdas by the 10s of millions every year, and manufactures tons of machine tools without which the industrial could not function. To mention just a few things.

What's your preferred currency? Doggy Coin?

there's no real wealth backing up any major fiat currency,

Except the economies that produce them.

0 ( +2 / -2 )

Oh, Germany is also on the list? Germany depreciated Euro?

1 ( +1 / -0 )

there's no real wealth backing up any major fiat currency,

Except the economies that produce them.

The economies are important, that was part of my point. But they won't back up a poorly managed currency. Most of the major currencies, USD and yen included, are in a race to the bottom. The yen has lost 30% against the dollar, which itself is losing value rapidly. Not exactly the best places to store wealth these days.

2 ( +3 / -1 )

There seems to be some serious psychosis in the readership regarding inflation and currency rates. People scream that the currency is too weak (it is), but then scream that inflation is already too high (compared to others countries, not yet).

You have to understand the Man, Mr. Kuroda, and his lifetime mission to FORCE widespread, consistent inflation into the domestic-sourced Japanese economy. That's his raison d'etre, he WILL be the one who gets Japan out of its "deflation" spiral, and to do this, he'll keep interest rates at zero, for however long it will take.

UNTIL you get REAL, LONG-TERM (one year or more), and ENDEMIC INFLATION IN THE DOMESTIC ECONOMY (as opposed to inflation stemming from imports), Kuroda has decided that the yen's value will burn down, down, down. He can't prop up the yen and create inflation- he must choose, and he's chosen his priority. He will NOT focus on the yen UNTIL you feel the real pain of inflation in every sector of local economy.

How long will it take? Japan's not even close to the pain Europe or America (8.6%) are currently feeling. Kuroda thinks we have a LONG way to go yet. It will not bother him if the dollar buys 150 or 160 yen. But he can't keep rates at zero forever, and inflation is certainly starting to heat up in domestic sectors.

If you want a stronger yen, you should be rooting for higher inflation. It may seem stupid, but that's the ONLY choice Kuroda offers Japan, and the domestic politicians (connected to foreign-manufacturing Japan Inc who are PROFITING from the weak yen outside Japan) have given him all the time he needs.

-1 ( +1 / -2 )

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