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The Japanese yen was sold in the immediate aftermath of the quake. Counter-intuitively it then recovered and is the strongest currency in the world today (see table). Market participants appear to be seriously underestimating the risk posed by the megaquake to the Japanese economy and assets.
Cross Currency Table
Alternatively, there may have been intervention by the Japanese authorities in order to maintain confidence and protect the value of their currency and bonds. The Bank of Japan, like the Federal Reserve, regularly intervenes in foreign exchange markets and has even intervened in equity markets by buying ETFs linked to the Nikkei and the Topix.
The secretive Working Group on Financial Markets or ‘Plunge Protection Team’ in the US is known to intervene in markets in emergencies in order to prevent market panic. Maintaining confidence in the yen and by extension the dollar and the fiat monetary system, may be part of that mandate.
Long term government intervention and manipulation of markets is a recipe for disaster as it leads to distortions, imbalances and massive moral hazard. However, the megaquake in Japan could justify short term intervention and this may explain the yen’s counter-intuitive surge in international markets.
Originally posted by buddha
So dont watch the hand that is waving.
watch the hand behind the back.
wait for the second shoe!
Arab world witnesses more protests
Protests seen across many Middle East nations but "Day of Rage" fails to take off in Saudi after major security effort.
Originally posted by RenoKnows
Anything that might have relevance to the date 03-11-2011, I can make out all 3 master numbers from the date. Could it have been planed? I don't know and really don't care My thoughts go out to all that need it. That being said "Let's Follow the Money!"
Oh yeah Star & Flag, your on my same thoughts.edit on 11/3/11 by RenoKnows because: 2 S&F