Karlysymon
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- Mar 18, 2017
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From the article:The Japanese yen is broken. It's skyrocketing inflation because they have unlimited printing for their bond market, however their bond yield is so low, .25%, it's being dumped. So the money printer has been running full time and the bond market won't stabilize. That's my layman's breakdown at least. More articles embedded in the zerohedge link.
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zerowww.zerohedge.com
Wonder if this will precede CBDCs and currencies rolling over by nessessity to a new system
Finally, what happens if and when the yen careens off the fiat cliff, and domestic holders of yen-denominated savings flee into either dollars or cryptos? We will find out very soon.
I decided to find out if the BoJ is talking about a digital Yen.
Ofcourse it is! But i suspect that once the dollar crashes and loses it's reserve status, that will accelerate adoption in many countries. There's also a geopolitical aspect to all this...hacking your enemy's currency. Naturally, the solution to this problem of sovereign cbdcs will be that we all use a single digital currency.
Analysis: Japan keen to speed up digital yen launch as China adds geopolitical twist
Japan's new political leadership is calling on the country's financial bureaucrats to ramp up efforts toward issuing a digital currency, pointing to China's far quicker progress as a potential challenge to the global economic order.
www.reuters.com
"If China launches a digital yuan next year and Europe's central bank announces plans to issue a digital euro, that will have a huge impact on Japan and pile pressure on the BOJ."
That lukewarm stance may be put to test as Kishida has made economic security a policy priority, and framed questions around CBDC beyond finance into one of national security.
While G7 central banks generally agree on the need to counter China on issues around privacy, the case is particularly strong for Japan as lawmakers worry about the growing economic might of its assertive neighbour.
Some influential ruling party lawmakers see China's advances on CBDC as a potential threat to the dollar's status as a global reserve currency, and the financial dominance of Washington - Japan's biggest ally."