No censure of Japan means they will be off to the money printing presses.

Nobody with any common sense at all believes the yen should by 75 to the dollar. Except some trash banker in a trash economy. And like they have never been "off to the money printing presses". Go back to your mansion and trophy wife and be happy.

^Mind explaining why you're so angry? It seems to me that a successful economy isn't built on currency manipulation.

As an exporter, I say, print baby print. I also think it's ridiculous that I pay less for products than I did in Heisei 3, back when I arrived in Japan, and that needs to be combatted. No wonder Japan is going nowhere when a producer can't raise his prices by 10 stupid yen.

(Yes, computers got cheaper, and gasoline got more expensive. Other things generally fell in price, or failed to rise.)

Well, the Americans should talk- - - - that's all US Treasury has been doing these past years is print money - - and Britain too. So what works for the goose works for the gander too, IMO

UK and US have already had the presses running for last few years. YUen at 75 was clearly way too strong. The old 130 rate was about right......

So they print more, the value goes down, exports go up, the demand for yen rises as more yen-based products are bought, so the value goes up, so they print more, so exports go up... and so the merry-go-round goes round and round with no real gain for the Japanese export industry for obvious reasons... namely that domestic inflation will mean a rise in salaries, the cost of pretty much everything, etc, which will raise costs in the long-term.

The idiocy here is that so many countries have tried this idea and it has FAILED EVERY TIME. Japan's "We're so special... what happened in Argentina, Germany, South Africa, Greece (just to name a few) cannot happen to us.." is idiotic.

A common error is that conferences automatically solve problems. With Japan making an assault on the world monetary system it has to be assumed that Moscow notwithstanding there will be some kind of opposite reaction to this. It is not what one says at conferences but what one does if one feels threatened.

Japan is ipso facto devaluating its currency. There are a number of things that could happen. It could utterly upset the system, as Fungy says above. Or it could lead to binge buying of the yen. Any economic success Japan experiences could raise the yen, which is what started 35 years ago.

As far as I can tell, Japan has been living on funny money for decades. Glad I'm not going to be here when the cows come home to roost in the fan.

Japan should have done this years ago. USD 1.00 = Y 100 is about the most Japan can bear. Yet it has endured (read suffered) from an overvalued Yen for years not because the Yen is so great, but because the USD and Eu have been ridiculously weak. I was amazed that the Noda administration did nothing in this regard while in power.

Kabukilover

You've got it wrong. Speculators made an assault on the world monetary system to benefit from the changes. Big investors know it, to make a lot of money, you need change, whether booms or crises, a smart investor can make as much money either way. It's when economic growth is stable and predictable that opportunities for the big buck disappear.

The Japanese Yen's value increased by about 60% from 2007 to 2011, causing a massive readjustment with terrible economic consequences for Japan. Nothing justifies such a massive variation in the value of the Yen.

You want Japan to take it lying down? Japan is not making an assault on monetary systems, it is defending itself against the assaults of speculators hoping to make a quick buck on their back. And the reason why bankers like this guy whine is because their precious little strategies to make money off of other people's misery are getting short-circuited. Now they may have to gasp WORK for a living.