Jan VanDenBerg_

To Monetize or Not to Monetize: Who Cares?

Our monetization will not work the same as Japan's because Japan has a huge trade surplus, is a creditor nation and is exporting capital to the world.

We have a huge trade deficit and must borrow massively every day just to pay our bills.

Also, Japan started the era with a grossly undervalued currency which had suddenly appreciated, quite against the wishes of the Japanese government (remember Plaza?). The monetization was largely an attempt to slow that appreciation.

Our situation is almost exactly the opposite.

Jan VanDenBerg