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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (97543)	1/7/2013 2:52:01 PM
From: TobagoJack	Respond to of 218069

Am thinking we must slooooow down and reflect, else life too much like a video game, not good. Otoh Games will never be the same! oculusvr.com and leapmotion.com

To: carranza2 who wrote (97543)	1/8/2013 7:53:53 AM
From: TobagoJack	1 Recommendation Read Replies (2) \| Respond to of 218069

Good news http://www.bloomberg.com/news/2013-01-08/japan-to-buy-esm-bonds-using-forex-reserves-to-help-weaken-yen.html Japan to Buy ESM Bonds Using Forex Reserves to Help Weaken Yen Japan will buy bonds issued by the European Stability Mechanism to help weaken the yen, Finance Minister Taro Aso said. The bond transactions will be funded by the country’s foreign exchange reserves, Aso told reporters today in Tokyo. The nation hasn’t decided on the purchase amount, he said. Enlarge image One-hundred euro, from top, U.S. one-hundred dollar, and ten-thousand yen banknotes. Photographer: Kiyoshi Ota/Bloomberg Buying ESM bonds may help Prime Minister Shinzo Abe push down the yen while avoiding criticism of his currency policies from trading partners such as the U.S. and South Korea. “The Europeans would be happy to see Japan buy ESM bonds, so Japan can avoid criticism from abroad and at the same time achieve its objective,” said Masaaki Kanno, chief economist at JPMorgan Securities Japan Co. and a former central bank official. The yen pared gains after Aso’s comments, falling to as low as 87.83 per dollar. As of 11:45 a.m. in Tokyo, the currency was at 87.65. The U.S. criticized Japan for undertaking unilateral sales of the yen in 2011, after Group of Seven economies jointly intervened to weaken the currency in the aftermath of the record earthquake and tsunami that year. “Rather than reacting to domestic ‘strong yen’ concerns by intervening to try to influence the exchange rate, Japan should take fundamental and thoroughgoing steps to increase the dynamism of the domestic economy,” the Treasury Department said in a report in December 2011. Abe’s Liberal Democratic Party faces the task of reviving growth after the economy contracted in the second and third quarters of last year, meeting the textbook definition of a recession. The nation’s industrial output tumbled more than forecast in November to the lowest level since the aftermath of last year’s record quake. The ESM replaces the European Financial Stability Facility, a temporary mechanism whose bonds Japan purchased. The two funds will run in parallel until the EFSF is phased out in mid-2013. Controlled by euro finance ministers, the ESM can lend directly to governments, intervene in bond markets, offer credit lines and provide loans that can be used to recapitalize banks. To contact the reporter on this story: Mayumi Otsuma in Tokyo at motsuma@bloomberg.net To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net Sent from my iPad