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"It is only monetization when the market tells us it is monetization," says a BOJ member. In...

"It is only monetization when the market tells us it is monetization," says a BOJ member. In other words, if central banks hoover up government debt and yields go down, it's not monetization. Wonderful logic. Kyle Bass again takes central bankers to task for actions surely to end in a massive loss of wealth and earnings power. A bear on Japan's finances for some time, he's never been comfortable just shorting the yen ... until now. (see also)
Comments (6)
  • chopchop0
    , contributor
    Comments (3228) | Send Message
     
    Japan has the luxury of having most of their debt held internally. Do we?
    18 Nov 2012, 09:17 AM Reply Like
  • wyostocks
    , contributor
    Comments (7708) | Send Message
     
    Basically, the BOJ is saying "trust us" we know what we are doing.
    No different than Ben and all other central banks.
    18 Nov 2012, 10:11 AM Reply Like
  • winningtrader
    , contributor
    Comments (2476) | Send Message
     
    Japan is toast and the YEN will lose a substantial portion of its purchasing power over time (most of it), and I mean upto 10 years. The standard of living there will go down the drain. The good thing is that they are used to living modestly, by Western standards, so they can survive. The way this will work is simple: The BOJ has lost its independence (that it actually never had) and will print money like there is no tomorrow. Then they will get the inflation that they DON'T want. It is going to be ugly.
    18 Nov 2012, 11:40 AM Reply Like
  • Aristiphones
    , contributor
    Comments (1327) | Send Message
     
    Kyle Bass is a clown just the rest of these guys. They SAY nothing wealthy...or is it indebted?...no, of course..."levered"...p... don't already know. listen..."taxes are going up." this is NOT news...save for Kyle Bass of course. He IS NOT offering advice to the TOTALITY of people on "the correct approach to a tax avoidance scheme"...because he already has people working on that and doesn't need to worry all that much it would seem. For people like me? The all powerful State stands as a testament to the futility of all of this...gibberish. Are we paying for a withdrawal of American forces from the Islamic regions? Or is it an Israeli war of aggression? Who cares...right. "If it's not being reported it's not happening" indeed. Of course the job of an HISTORIAN is to report on the salient events "of yesteryear"...so good luck with that one with me....or any other historian i might add. So a bunch of religious nut jobs have their undies in a bunch. Why is it the care of the American people? they're CLEARLY better off with all those people DEAD... at least so long as Americans are engaged over there and "waiting to come home." permanently. http://bit.ly/UNxQ5u
    18 Nov 2012, 11:46 AM Reply Like
  • untrusting investor
    , contributor
    Comments (9928) | Send Message
     
    A very good article by Kyle Bass. Have no doubt that he if largely correct in his assessment that Japan is in for some serious financial challenges over the coming years. Kept trying to get into YCS at cheaper prices, but it has already jumped over 5% in just a few days.
    18 Nov 2012, 12:55 PM Reply Like
  • ronis100
    , contributor
    Comments (28) | Send Message
     
    bass has been wrong on the yen for years
    19 Nov 2012, 10:12 AM Reply Like
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