Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: sun-tzu who wrote (25292)	12/21/2001 5:28:06 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 209892

i basically agree. regarding the BoJ, it did NOT cave in to demands for the buying of even more t-bonds (this would be an extremely imprudent thing to do as it were), but it DID cave in to demands that it ease policy considerably. in the course of this, it has now for the first time decided to monetize land, by accepting mortgage backed bonds as collateral in open market operations. it is now the third institution in human history to embark on this utterly foolish journey. the first instance was John Law in his infamous Mississippi bubble. next came the Fed, which decided to accept agency paper for the first time in the run-up to Y2K and has continued to accept it. the BoJ has also decided to increase the monetization of the Japanese government's debt pile considerably, as well as instituting several other quantitative easing measures. that's a policy doomed to failure. if anyone here believes that printing money can create wealth, please let me know. the BoJ and the people "advising" (read: pressuring) it, appear to think so.