Bank of Japan fires the first shot in the latest round of fiat money injections in response to the "Greek Crisis". The yen moved sharply higher against both the Euro and US dollar today, plus the Nikkei 225 was down about 4% at the open tonight. The JCB wasted no time in making sure those trends did not continue. It looks as if competitive currency devaluations are in full swing now.
Modern central banking could be practiced by a well trained dog. Stocks drop more than 5%, step on the $50 billion button, which then sends dump truck loads of free money to large money center financial institutions. Stocks drop 10%, step on the $100 billion button. Over 20%, hit the $1 trillion button repeatedly until stocks start going back up. I guess that's why they say dogs are a bankers best friend.
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