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171 sats \ 0 replies \ @ken 22 Sep 2022
Japan is boosting the yen
These central bankers aren't your fren
Don't fight, find your zen
Need rhymes, just ask @ken
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41 sats \ 0 replies \ @cryptocoin OP 22 Sep 2022
The link for this post is using an archive for the article on The WSJ's website. An archive has no paywall, no subscription requirement, and can be easier to read. The original article, on The WSJ's website is:
Japan Intervenes in Currency Markets to Support Yen
https://www.wsj.com/articles/japan-intervenes-in-currency-market-to-support-yen-11663836942
https://twitter.com/NorthmanTrader/status/1572864489707413504 [Nitter]
https://i.postimg.cc/VN122gN2/image.jpg
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36 sats \ 3 replies \ @bitcoingraffiti 22 Sep 2022
So they're selling dollars for their own garbage?
Whilst doing YCC?
This seems like a panic move, no?
Once they're out of dollars, it's bye bye, right?
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37 sats \ 1 reply \ @siggy47 22 Sep 2022
Japan is a major holder of US bonds. They have a long way to go before using up their powder. For the dollar, if major US bond holding nations are forced to liquidate to shore up their own currencies, it will be that much more difficult for the fed to stop buying treasuries. In fact, it seems impossible
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36 sats \ 0 replies \ @bitcoingraffiti 22 Sep 2022
Right, so it actually has the effect of the Fed reversing its policy sooner.
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25 sats \ 0 replies \ @bitcoingraffiti 22 Sep 2022
Got a reply from Lyn Alden here:
https://twitter.com/LynAldenContact/status/1572894688415449089
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