politics

Japan policymakers to guard against market volatility after Greek vote

11 Comments
By Leika Kihara and Stanley White

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11 Comments
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tldr; Do not fear, unlike those EU cowards, we can and are willing to print more money, it's just numbers in the computer after all.

2 ( +3 / -1 )

Maybe Japan can look in Tokyo bay for all that sunken plundered gold to finance a second "economic boom"? I'm available to help on Saturdays and I have my own snorkeling gear. Who should I contact?

1 ( +1 / -0 )

Thomas Jefferson once said.

I believe that banking institutions are more dangerous to our liberties than standing armies.

So true.

1 ( +3 / -2 )

Thomas Jefferson once said, I believe that banking institutions are more dangerous to our liberties than standing armies.

He was also purported to have said "democracy is mob rule, where 51% can rob the other 49%. It is not the banks that have caused Greece's problem, it is Greece's abuse of democracy which the cause. Greek politicians, like politicians everywhere, buy votes. In Greece, the politicians give government jobs in exchange for votes, to the point that more than 25% of the population works for the government.

Of course the politicians don't care about this, for the past few years they have been able to loot the IMF and ECB, and the taxpayers of Germany and France to buy the votes of the Greek people. What will they do now that they cannot rob the rest of Europe? What will they do now that they have squandered the wealth of Greece to buy votes? Of course they will blame the banks for being predators and vultures.

Let's not forget that the banks did not come into Greece and twist any arms, the Greeks went to the banks, hat-in-hand, and asked for the money. Then they asked for more, then more, and then more again. And now rather than blame their wanton, drunken-sailor spending, they instead blame the banks.

But it doesn't matter now, Greece and it's people must now pay in suffering against what they have borrowed in the past.

Greece should be a strong wake-up call to other developed countries who have been increasing fiscallly irresponsible.

-1 ( +4 / -5 )

Let's not forget that the banks did not come into Greece and twist any arms, the Greeks went to the banks, hat-in-hand, and asked for the money.

Let's also not forget why the banks were willing to make the obviously ridiculous decision of buying high interest/high risk Greek government bonds in the first place. It was only because they gambled (correctly it turned out) that Europe would always bail out any Euro country that ever got into financial trouble. It's true that the real victims here are the northern European taxpayers, but their money was lost when their own government's decided to fund the first bailouts, 90% of which went to helping Greece keep paying the European banks.. and not the Greek default which is coming now. If they want to know where the money ended up, they should look to Deutsche Bank, Santander, BNP Paribas etc.

http://www.theguardian.com/world/2015/jun/29/where-did-the-greek-bailout-money-go

[Thomas Jefferson] was also purported to have said "democracy is mob rule, where 51% can rob the other 49%.

And most people agreed with him, which is why America became a constitutional republic where congress couldn't vote to strip anyone of their basic (constitutional) rights with a simple majority vote (as can be done in the UK, Australia and elsewhere).

1 ( +1 / -0 )

I believe the Japanese are making these statements because of the real fear the Eurozone and the single European currency could fall apart because of the Greek debacle, and that could have EXTREMELY negative effects on equities markets around the world--including all of Asia.

0 ( +0 / -0 )

@kibousha

tldr; Do not fear, unlike those EU cowards, we can and are willing to print more money, it's just numbers in the computer after all.

You mean like we have been doing since March 2015? sincerely, a EU citizen

0 ( +0 / -0 )

I would be more worried about China. The stock market lost 30% in 3 weeks and almost 25% of companies have suspended trading of their shares. Which means it could get worst.

2 ( +2 / -0 )

@ sangetsu03

Yes i also think it was jefferson who said democracy whats 2 wolves and a sheep trying to figure out what to have for dinner ;o)

-1 ( +0 / -1 )

, unlike those EU cowards, we can and are willing to print more money, which is why the EU is in there own QE, if the US can use it as a tool then so can other major currency

1 ( +1 / -0 )

Taking from the .... and giving to the .... dumdumdum...

0 ( +0 / -0 )

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