Japan says it is ready to help stabilize Europe

International finance is an incredible farce - confidence seems to be the only thing keeping the huge house of cards it has become from collapsing.

Japan is the most bankrupt country in the developed world.

It has been purchasing debt from other severely bankrupt countries that very likely have no way to pay it back in the foreseeable future.

It's like one bankrupt drunk borrowing a bottle of booze from another bankrupt drunk.

The addiction continues.

Japan's desperate to get rid of all those donations that were given to the local government by the Red Cross, aren't they?

Lets hope they manage to stabilise that better than they stabilise their own little disaster.

we have handful of problems.. lets stabilize that first

New World Order..

Chinese and the Saudis are most likely going to buy the rest, considering they own most US bonds also..

If the EU needs help from messed Japan?? OMG!! The EU messed be in a hell of a mess to even be thinking of asking for help from Japan, maybe they are getting confused between filthy new $$$ over China??

Its just a way to sell the yen and inflate it. If theyre just gonna throw money away, why dont they just print money and give to us? Wouldnt that solve the deflation issue and the yen? I guess its not as easy as people think to print money.

I see most of u criticizing Japan, But I've never seen any of you with a good idea to solve the crisis.

Other thing.. Japan has always been a country that helps others. for example. Here in Dominican Republic, they've built lots of schools, advanced imaging clinical laboratories, water channels, hydroponics systems, helped with money, waste disposal systems, governance teachings, eve buildings for teaching about commerce. That's why Japan is loved in many places.

Gentlemen of the DPJ, please leave this aside delusions of grandeur. Japan has no money even to pay its retirees. leave the dirty jobs for the Chinese they have helped these countries to break.

"Japan says it is ready to help....help...help....hepT...hePT...hEPT..HELP !

You must not forget that this "Help" is an investment. By buying the debt to the EFSF, Japan is thinking about the future, not only the immediate present because that purchase will result in interest in the future, an interest with high rates, which can be translated in a better future and even greater investment in Japan. And it is in times of financial crisis that the best opportunities appear, like this one.

“A stable Europe will be in the interest of our nation."

This is also true. A stable Europe not only guarantees the present and future Japanese exportations of goods and services, but it also helps to stabilise the world economy and the price of the money (the currency), granting greater trust between countries (including Japan) and fosters the trade of goods and services, leading to the economical growth and production not only European's but also Japanese's.

Also, by buying the debt, the EU is a bit in control by Japan because they must abide by the Japanese rules if they want to be helped. I, as a european union citizen, am perfectly fine with that.

overchan:

" I see most of u criticizing Japan, But I've never seen any of you with a good idea to solve the crisis. "

What?? How many times have I pointed out that the way out of this is a haircut for the PIIG lender banks, followed by a return to national currencies?

How can we help anyone, we are 265 % over our G.N.P. Greece is only 20% over their G.N.P. When the world wakes up we are in a lot of trouble.

WillieB,

overchan: " I see most of u criticizing Japan, But I've never seen any of you with a good idea to solve the crisis."

What?? How many times have I pointed out that the way out of this is a haircut for the PIIG lender banks, followed by a return to national currencies?

It needs to be more than just a haircut or even a return to national currencies. The only way to solve this is to do away with the central banking system because if you cut off their ability to print money from nothing then the predatory lender banks go too. The creditor banks are all owned or controlled by the same central banking cartel anyway.

These creditor commercial banks have a kind of transactional function and this sorry system will simply continue even if they do take a haircut. The Bank of International Settlements (BIS - ever heard of it?) in Switzerland is the central bank of central banks. It is privately owned and sets policy for the other 100 plus privately owned central banks around the world. In other words, they're all tied in to the same controlling group.

So again, do away with the central banks' ability to print money from nothing and charge interest on it (ponzi scheme) and the problem is pretty much solved since there are other much more equitable systems which can take its place. It might be hard times for a while but to continue with what we've got now would be the worse possible outcome.

naruhodo1

If theyre just gonna throw money away, why dont they just print money and give to us? Wouldnt that solve the deflation issue and the yen? I guess its not as easy as people think to print money.

Yes, they could just print money and give it to us, or drop it from a helicopter. But then the game would be up. One of the reasons commercial banks exist is to distribute the money that the central banks pump into the system and to keep the illusion going that this fraudulent banking system is necessary. Nothing could be further from the truth.

weedkila:

" it needs to be more than just a haircut or even a return to national currencies. The only way to solve this is to do away with the central banking system "

In that case, Greece would go bankrupt, which is precisely what the European politicians do not want. Fundamentalist criticism of the world wide money system is valid to a degree, but it deflects from the current, very real problem in Europe, which is the Euro.

This whole mess has been created by forcing radically different economies into the straight jacket of one currency, and the unwillingness to accept the results. It is a problem created by politics.

weedkila:

" One of the reasons commercial banks exist is to distribute the money that the central banks pump into the system and to keep the illusion going that this fraudulent banking system is necessary "

No. The problem is that banks can make free money buying Greek government bonds which pay absurdly high interest, and which can never be paid by Greece -- safe in the knowledge that the German government will bail them out when Greece does not pay. And if Germany reaches the line of its ability to pay, then they will borrow money from Japan to do so......

This absurd scheme has to come to an end eventually.

WilliB

You mentioned it's a problem created by politics, which is true enough. But it's also a fact that Western governments are severely compromised by a powerful financial cartel who own the central banks. In other words, mercantilism. So while it's not incorrect to say it was a problem created by politics, it is more accurate to say that it was the politicians doing the bankers' bidding that created this mess.

The euro and all other fiat currencies are inherently designed to self destruct, so what is the purpose behind such a system? And surely the people behind the creation of the euro -- the same cartel -- knew that "forcing radically different economies into the straight jacket of one currency" wouldn't work. So was it just greed? Or maybe a way to orchestrate more centralisation of power and control from the resulting chaos? Even the Vatican is now talking about having to create a one world currency and one world authority. Sounds suspiciously like the same crowd creating a problem to later introduce the solution they want.

Whatever way you look at it central banking and its fractional reserve system is at the very root of the problems we are facing. I'm not advocating any one financial system over another, just to get rid of the predatory system we have now and let the free market decide what is best. Perhaps you were indicating that as well when you said: "This absurd scheme has to come to an end eventually."

Corrupt old Europe wants to export the Weimar nightmare.

Sorry but I still think Japan must first clean up the mess with its OWN economy FIRST, before even thinking of trying to bail out the EU. IMHO.