bank of japan announces 80 trillion QE

[Large Sarge]

http://networkedblogs.com/CjVgJ

[joboo]

https://woozers.files.wordpress.com/2009/10/facepalm_4.jpg

[StreetsOfGold]

https://woozers.files.wordpress.com/2009/10/facepalm_4.jpg

Major facepalm

[Serpo]

http://gold-silver.us/forum/attachment.php?attachmentid=3720&d=1348045084

[Serpo]

just in time because china is going to screw them

[Neuro]

The race to the bottom continues! They need to prop up the Fukushima area housing market!

[PatColo]

http://www.zerohedge.com/sites/default/files/pictures/picture-5.jpg (http://www.zerohedge.com/users/tyler-durden)
Bank Of Japan Increases Asset Purchases By Y10 Trillion, Total Program Now Y80 Trillion, Total Debt Still Y1 Quadrillion (http://www.zerohedge.com/news/bank-japan-increases-asset-purchases-y10-trillion-total-program-now-y80-trillion)

Submitted by Tyler Durden (http://www.zerohedge.com/users/tyler-durden) on 09/19/2012 - 00:01 Bank of Japan (http://www.zerohedge.com/category/tags/bank-japan) Bond (http://www.zerohedge.com/category/security-name/bond) Japan (http://www.zerohedge.com/taxonomy/term/8436) REITs (http://www.zerohedge.com/taxonomy/term/145) It seems like only yesterday that we were lamenting "Einstein rolling over in his grave" as a result of the BOJ's latest increase in its asset purchase program from Y65 to Y70 trillion, although technically it was 5 months ago on April 27 (http://www.zerohedge.com/news/boj-eases-einstein-rolls-over-grave). We would excuse Einstein if he were doing cartwheels in his grave right about now, following the BOJ's latest attempt to keep doing what has definitvely failed for 30 years, hoping this time it will be different, as a result of the just announced latest expansion in the asset purchase program's size by yet another Y10 trillion, this time to a total of Y80 trillion. The expansion impacts only JGBs and T-Bills, both of which will be monetized by a further Y5 trillion. Putting this in perspective, Japan's total public debt is Y1 quadrillion, and counting very fast. All other components of the Japanese LSAP program, including CP, Corporate Bonds, ETFs and REITs (yes, unlike the Fed, the BOJ is quite open about its equity and corporate bond purchases) remain the same. Bottom line, just as we predicted back in July 2009, the global race to debase continues unabated, and as a result of QEternity will merely accelerate until the only true currency is gold tungsten.

[mick silver]

how long have they been at this game . i think they have been doing thius alot longer then the usa

[Neuro]

how long have they been at this game . i think they have been doing thius alot longer then the usa
If my memory serves me they have been doing this at least since 1989, I don't think since then they had many years with an interest rate above 1%... Doesn't seem to work very well at stimulating the economy, just keep the zombie banks somewhat alive...

[undgrd]

Translation:

Japanese Debt in US Dollars:
$12,800,000,000,000


US Debt in US Dollars:
$15,981,815,XXX,XXX

[joboo]

Translation:

Japanese Debt in US Dollars:
$12,800,000,000,000


US Debt in US Dollars:
$15,981,815,XXX,XXX

Would be interesting to see how pm's have performed over the last 20 years in their dollars.

[Neuro]

Would be interesting to see how pm's have performed over the last 20 years in their dollars.
Funny thing is that PM's have performed worse in Japanese Yens vs USD, even though Japanese public debt is much worse in regards to GDP and population, and it has been expanding faster. IOW Japanese Yens have strengthened vs USD over the last 20 years...