Thursday, March 09, 2006

Japan Raising Interest Rates At Home---Just Joking

By Elaine Meinel Supkis

Japan grandly announces they will raise interest rates at home someday when the moon falls and pigs fly. Of course, we are all supposed to watch the yuan and worry about China's financing, right? Right. Pay no attention to the Three Card Monte Player.

From Associated Press:
The Bank of Japan on Thursday abandoned the super-easy monetary policy it has kept for five years, saying it will gradually raise interest rates and start to cut the excess cash in the banking system amid signs of economic recovery.

But the central bank sent a clear message that the transition will be slow, saying benchmark interest rates will remain near zero for some time and that it will only gradually reduce the amount of liquidity in the banking system over several months.

"Interest rates will stay at zero for some time, then stay extremely low and go through an adjustment period," Bank of Japan Gov. Toshihiko Fukui said a press conference. "It's up to the economy how much and when."
I used to work for a German corporation on 43rd St and Park Ave in Manhattan and I took the subway to work and thus, passed through Time Square and 42nd Street a lot. Lots of Japanese tourists and lots of three card Monte players littered the landscape. I suppose, in their youth, some of the Japanese bankers were exposed to this game.
Whenever a police car passes by, you can observe how quickly these games disperse. Sidewalk card games are both illegal and fraudulent for some very good reasons.

Two or more people are standing around a cardboard box on a busy street trying to win money by choosing the correct card out of the three cards shuffled.

You notice that someone seems to be winning; this person is usually working with the dealer to lure people in. People who work these scams know that it will be less suspicious to plant a women or someone in a business suit in the game.

The shuffler will purposely lose the first few rounds to get you to bet more money.

At this point, if you take your wallet out, someone may grab it and run -OR- it will be pick pocketed as you watch the game.

If by some fluke you win, you may be followed and mugged.
How to avoid this
The hand is quicker than the eye and these are pros. Don't play - YOU CANNOT WIN!
From the official NY police warning. The Japanese bankers are very anxious that no one who can influence economic events notice the sleigh of hand going on here. Our rulers, the traitors driving us all into economic slavery, also want to hide the card and pick our pockets. Between these two, we are being fleeced, you notice. I hope.

The Japanese successfully got Bush and Condi and much of our government to join them in attacking China's influence on our financial markets. The Japanese, like myself, noticed that China has rapidly caught up with Japan and now has as large a foreign reserve as Japan. They don't have the same, smooth interface between the industrial bosses and the government which exists soley for their own purposes but Japan had to throw a spanner into the spokes of the Chinese financial machine before it begins to run over Japanese feet.

Which are firmly planted on our necks.

These manipulations have finally been noticed by people who aren't just my readers so Japan has to throw some sand into our eyes, thus the promise to raise interest rates they charge only themselves, someday, maybe, when they feel good and ready. This is so stupid. They aren't loaning US money at this rate, only themselves. This is an unfair trade practice since our businesses must pay much more to get loans, just for one example. The other is the pathetic yen, kept ridiculously cheap deliberately by currency manipulations that are hostile to our own country. The Chinese know we can't muscle them because we can't get Japan's boot off our own necks. If we do enough reforms to fix the obvious currency imbalances, this would mean an end to the program of sucking out American industry and replacing it with cheap American labor assembling products for Asian owners here at home.

Get the drift? No unions, no high pay, no profits. Just Mexican-style labor relations. And guess what? The Mexicans don't love us for doing this to them, do they?

So why are we allowing this? Ask our politicians. Ring their door bells and ask to visit them, face to face. Tell them you want to stop the Japanese from making the yen too cheap.
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