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21 sats \ 6 replies \ @halalmoney 11 Apr \ on: Yen: Bank of Japan refuses to intervene econ
A quick Google search indicates that Japan has 1.29T in reserves (valued in USD). A mere drop in the ocean, like Bitcoin’s market cap!
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The apparent intent for a managed decline of the Yen may morph into a steep decline. 1.29 would not be enough to reverse this and so a coordinated attempt* with other central banks may be in the pipeline at some point.
I’d be grateful if you’d elaborate on the capital hub point. I suppose raising capital isn’t the challenge, but allowing the proper (i.e. capitalist) allocation to take place is.
*Central banking at the national level is bad. Cross-border central bank coordination is worse; the temporary show of market power eventually leads to greater market distortions.
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