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Noda, Kan say they are keeping eye on financial markets


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“We will closely monitor the market and think about ways to deal with it.”

And that's about as far as they will get. Short of simply taking the yen off financial markets and pegging its value at a set rate there is absolutely nothing Japan can do.

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Great relief that instead of one there are two monitors named Kan and Noda !

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Crisis of Confidence towards US$ may continue and there is nothing else more Japan can do at this moment.

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Print a few hundred trillion yen to pay for the disaster reconstruction, flood the economy with it and watch the yen dive - will be at 100 to the dollar in no time... trouble is, where would it stop?

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Noda, Kan and the like who are mentally atrophied by the Finance Ministry officers don't ever rack their dead brains. They just intervene in the foreign exchange market without effect and invest the obtained dollar in the U.S. treasury bonds which are morally fictitious bills and will default or devalue in few years anyway. They drain our money away and call it ways to deal with it.

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