- メモ
- 今回の介入が海外からどのように見られているのか知りたいと思いつついつものところを見ていたらエントリがあったので...
- 介入主体は日銀じゃなくて財務省なので、populated by pompous morons who believe they can control the worldはまさに財務大臣と民主党。永遠に注意深く眺めてればよいものを。そして、the best thing they can do is hope for the last Viagra shot to result in priapismもまさに。
- 半減期という表現が気に入りました。Yen + IntervationでYentervationなんて表現するのか。面白い。:-)
First the SNB earlier today, now the BOJ? Out of nowhere the USDJPY just surged by 100 pips. It appears that the next round of central bank warfare is upon us.
- 今日はSNB(Swiss National Bank)から始まって、今度は日銀か？
- どこからともなくUSDJPYが100pipsも急騰した。
- これは次のラウンドの中央銀行の戦いが我々に降りかかってきたようだ。
And from Bloomberg:
Japan Intervened in Yen, Nikkei Says
Japan Intervened to Sell Yen, Finance Minister Noda Says
Yen Falls as Much as 1.8% to 78.43 Per Dollar After Intervention
Japan’s Intervention Was Unilateral, Finance Minister Noda Says
MOF sold under Y500 billion in intervention: 2 dealers
Noda Says He Hopes Bank of Japan Will Take Appropriate ActionsThere, it wasn't that painful now was it. Now just prepare to do it over, and over, and over, because as the SNB showed earlier, the last recourse of central banking around the world now has a 6 hour halflife.
And since this a short 11 month period from the last time the BOJ intervened and failed, here is to old memories and failed central bank interventions.
- ブルームバーグによれば、
- 今はちょうど実行準備が終わった。何故ならば、SNBが先に示したように、世界中の中央銀行の最後の頼みの綱は6時間の半減期を持っているからだ。
- そして、前回日銀が介入し失敗した時から11ヶ月という短い時が経過したが、中央銀行の介入が失敗した古い記憶がここにある。
From Currency Intervention, Bitches, September 14, 2010
After a six year wait, the BoJ has finally had enough of the Federal Reserve's endless manipulation and has itself intervened in the currency market. The USDJPY jumps over 150 bps, the Nikkei surges 250 pts (that ES-Nikkei convergence or whatever the hell it was is closing soon) as the BOJ sells between 200 and 300 billion worth of yen. Yes, this is the time to short, short, short because if the now useless SNB interventions have taught is anything it is that central banks are populated by pompous morons who believe they can control the world, when the best thing they can do is hope for the last Viagra shot to result in priapism. For those who have taken Psych 101 - look up learned helplessnes. Next up - the SNB, and after that the Fed once again, and after that, the slow but sure end of fiat. The race to the currency devaluation bottom is now in the third and last lap. And incidentally, for all those who missed it, the BOJ's intervention is a symbolic capitulation, and the beginning of the end for the Keynesian system. Rejoice.
- 通貨介入から、愚痴、2010年9月14日
- 6年間の待機の後、日銀はついに連銀のきりがない操作に辟易し、自ら為替市場に介入してきた。
- 日銀が200から300bilに値する円を売るにつれて、USDJPYは150bps以上も跳ね上がり、日経平均は250ptsも急騰した。
- そう、これは売って売って売りまくる時だ。何故ならば、今や役に立たないSNBの介入が何かを教えたとすれば、中央銀行は世界をコントロールできると信じている思い上がった能なし共で溢れていると言うことだ。彼らに出来ることはせいぜい最後のバイアグラが持続勃起症を引き起こすだけだというのに。
- Psych 101を取った人のために、学んだ無力感を見上げる。
- 次の番はSNBだ。そして、そのあと連銀がもう一回やり、そしてその後、ゆっくりだが確実に専断(fiat)が終わりを迎える。
- 通貨切り下げの最下位競争はいまや三週目そして最後の周回である。
- ついでながら、機会を逃した全ての人のために、日銀の介入は象徴的な降伏文書であり、ケインズ体系の終わりの始まりである。
- 喜ぼう。
And Reuters' recap:
Finance Minister Yoshihiko Noda said Japan acted on its own and aimed to stem speculative and disorderly currency moves.
Noda told a news conference he expected the Bank of Japan to take appropriate action. He declined to comment on the size of the intervention or say what currencies Japan bought.
The central bank, which started its policy meeting on Thursday would announce its policy decisions later in the day.
The action that followed days of official warnings that the currency, largely driven by broad dollar weakness, has passed levels that the export-reliant economy could live with, pushed the yen down to about 78.30 to the dollar from a level of around 77.
Some currency traders braced for further dollar declines should U.S. payroll data on Friday heighten concerns about the health of the U.S. economy. That could increase the chance of Japanese government intervention and make it more likely that the Bank of Japan will ease policy at a meeting ending on Friday.
Suzuki Motor Corp (7269.T) executive vice president Toshihiro Suzuki said on Wednesday it was "very sad" that no one was taking action against the strong yen, adding to a chorus of Japanese business leaders calling for action to weaken the currency.
Japan last intervened in concert with the Group of Seven in March, when expectations of fund repatriation after the earthquake pushed the yen to a record high.
- そして、ロイターの要約：
（以下省略）
