G-7 seeks to defuse currency war fears over falling yen

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  • 7

    gaijinfo

    Hypocrites, all of 'em. When U.S. or Euro manipulates their currency, they call it "stimulus," or "quantitative easing" but when somebody ELSE does it, then by golly they're trying to start a currency war!

    As long as there are fiat currencies, there'll be currency wars.

  • 1

    Schopenhauer

    The world should discuss rightfulness about globalism and floating currencieswhich are causing more damages than merits.

  • 5

    KariHaruka

    Yes because Japan are to blame for the Eurozone crises. Not the fatcats who spent out of their means!

  • 1

    kurisupisu

    I hope everyone has put at least some of their cash into gold or silver?

  • -1

    kevind

    every central bank has an inflation target BOJ has finally joined the 21st century by adopting a 2 percent target the problem with the BOJ has for many years according to many economists has let deflation become a problem because it never uses its power with coordination and strong bold measures that is why deflation will be a lingering problem here along with an aging population i dont like abe but he is right setting this bold policy in motion along with government spending will help achieve his goal at leastin the short term which is a nescessary first step to build on

  • -2

    MiuraAnjin

    "US QE is there to stimulate domestic consumption of domestically produced goods, while a weaker dollar drives up the price of imports." Fixed that for you.

  • 1

    gaijinfo

    What?????? Every currency in the 21st Century is a fiat currency or are you proposing we all return to the gold standard?

    Yes, I do propose we return to a gold standard. The only arguments AGAINST a gold standard are to increase the power of governments, banksters, and the crony capitalists that support them.

    And as an FYI, there's a reason why governments have been buying up literally TONS of gold lately (China, Russia, Germany).

    They see that an endgame to this fiat currency madness is on the horizon, and they're getting ready.

    US QE is there to stimulate domestic consumption, a weaker dollar is a secondary result.

    I beg to differ. There's never been ANY statistical or economic logic behind Keynesian stimulation. In the book "Currency Wars," Rickards explains precisely why a weakened dollar is the primary REASON for stimulus, while "stimulating the economy" is merely an EXCUSE, given to the gullible media, who in turn dish it out do the gullible, government kool aid drinking public.

  • 2

    Hiroicci

    I don't understand. Apparently, the yen's rise to 70+ was way too high for Japan, and it has fallen to a more manageable level. It should go down to 100 yen to the dollar, as I heard that that's comfortable enough for many J goods and many other countries managed to live with that value before. So why the fuss? The yen is still higher than it should, and the US and Germany are already yapping.

  • 5

    paulinusa

    It's interesting that nobody outside of Japan complained much when the yen skyrocketed the last few years.

  • 3

    whosthetyrant

    The villain is not Japan; it is the central bankers who have created a monster. Why not bring the Rothchilds, Rockefellers and their gang of thieves to justice. Take them over , take all their wealth, and go back to a simpler system. We don't need an international banker group dictating the money supply and controlling the world. But of course it will never happen... they will get their way, and bring on the eventual crash and the inevitable new economic system and complete tyranny.

  • 0

    gaijintraveller

    China is probably not worried about the drop in the value of the yen. For the Chinese if offers reduces the cost of buying up Japanese companies. Expect to see more Japanese names like Sanyo bought by China. Japanese property will also become cheaper. Could that mean more foreign owned ski resorts?

    Some foreign countries see the fall in value of the yen as an opportunity.

  • 2

    Kyle Alpert

    Japans just doing what its always done best: accelerating/bringing-about the Inevitable. "Currency Wars" (aka WW3) started decades ago, when Nixon axed Bretton-Woods and artificially propped-up the dollar via OPEC.

  • 0

    Hiroicci

    What not many politicians understand is that the weaker yen could be in their interests.

    It's not only the short-to-mid term exchange rates that encourage companies and consumers to buy their goods, ie, they don't buy foreign products just because they are relatively cheap. They also think about the long-term economic or financial situations that might occur. The current J economy is in deep s**t, and many people are, therefore, afraid to spend. They just don't feel secure about their jobs To change that psychology, the economy needs to pick up. For the economy to pick up, the yen has got to fall further down. Then many Japanese consumption minds would say, "Spend!", and buy their products, however more expensive they have become compared to 3 months ago.

    So let them feel better and more secure first! Although it has declined, this is still the third biggest economy in the world. They still have the economic power to make them laugh aloud happy.

  • 0

    wtfjapan

    the G7 cant pioint a finger at Japan, why? because the Euro US have been printing as fast as they can cut the trees down! LOL

  • 0

    smithinjapan

    Intentional, and it was intentional despite Japan claiming the contrary, deflation of the yen may look good for exports in the short term, and as such domestic stock, but in the not-so-short term it'll lead to an extreme drop in domestic consumption and in turn worsen the economy -- add to that the massive debt incurred ONLY in the past couple of years (not to mention it has the highest of the G8 nations already) and Japan is utterly screwed once this little stimulant wears off.

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