Statement by Finance Minister Kanda “Reasons for the decision to intervene in the foreign exchange market． It is unacceptable that profits are threatening people’s lives and driving up food prices．” Image available
Image Former Finance Minister Kanda’s “true feelings” on foreign exchange intervention as he takes charge of the “historic depreciation of the yen” Since taking office, he has visited a total of 60 countries in the three years since. We have also confronted global issues, such as Russia’s invasion of Ukraine. While there was much belief in the market that “there would be no foreign exchange intervention,” he led interventions many times during his term. Behind this decision… Former Finance Minister Kanda: “If energy prices and food prices suddenly rise (due to an excessively weak yen), that would be unacceptable. When a kind of “money-making movement” (= speculation) ends up threatening the lives of many ordinary people, some kind of action has to be taken. The market’s assessment is that the intervention is working.” Dealing with the exchange rate is a 24-hour job. This time, he showed us something special… Former Finance Minister Kanda: “There are these ’special ones,’ and all sorts of things.” Devices keep coming out one after the other. We have continued to work on this issue using as many as five devices. Former Finance Minister Kanda: “I guess it’s like a constant battlefield. I intend to continue doing that in the future.” On the 1st of this month, he was appointed as an adviser to the Cabinet Secretariat, the administration’s “brain”. For details, see the source Nippon TV 2024/8/3 Previous thread Related [Breaking news] Finance Minister Kanda appointed as Cabinet Secretariat adviser to be in charge of finance and international economy [Refused★] Bank of Japan and Finance Minister Kanda sold dollars from the late 161 yen range to the dollar for 5.5348 trillion yen. “The negative impact on the people cannot be ignored.” [Refused★]
>>5 Rather than becoming a disposable person, learn how to invest in stocks from one of Japan’s three greatest genius investors, Tester Toshiya Imura Tonpin, who went from poverty of 1 million yen to a billionaire!
Kishida: “From now on, it’s time to move from savings to investment!” Kishida: “Invest in Kishida!” Kishida: “Those who don’t invest are behind the times!” Kishida: “The public should invest in the new NISA” ↓ The public was tricked into investing in the new NISA in a hurry. ↓ Big crash. Second biggest drop since Black Monday. Government: “Yes, investment is at your own risk lol.”
I laughed at the complete denial of Abenomics. What was the 2% inflation target? They said that if prices rise, wages will rise and it will create a virtuous cycle…
There was a view that the weak yen was a good opportunity to escape deflation, but now we’re back to deflation. The lost 40 years have turned into 50 years, and it looks like it’s going to continue for a while. Young people should probably consider escaping overseas.
Comments