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US Treasury undertakes historic intervention in yen market

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Re: US Treasury undertakes historic intervention in yen market

#131

Post by marcosdumay »

bilsbie wrote: post #10

Can anyone steel man the “this isn’t a big deal” side of this? On x and reddit all I see are sky is falling posts.

That "historic" characterization has a smell of sports statistics. Yeah, that player never scored a goal in a Friday when it's a full Moon on the team's home stadium; no, that's meaningless.

The Japanese economy is changing, but that's true for any economy at any time. The world is currently in a crisis that is testing international relations, but I hope you knew that already. This one intervention doesn't add much by itself.

Re: US Treasury undertakes historic intervention in yen market

#132

Post by ProllyInfamous »

deadbabe wrote: post #8
dzonga wrote: post #6

Japan is the sort of canary in the coal mine. so yeah if the yen pops - then the u.s will too given all the 'a.i' shenanigans & the market manipulation with oil. but I guess the US Treasurer is willing to manipulate the market till they can't.

If you can manipulate the market why not do it? Literally no one benefits from the alternative.

We need an alternative, because a nation servicing interest on debt as its #1 fiscal line-item is historically irrecoverable #2027 #ThisTimeIsDifferent?

My proposed alternative is that we must accept (as individual nations, perhaps some even balkanized) that austerity measures are irreversible, globally. We cannot help everybody. We should not help anybody until we've helped our own countrymen/fellow-neighbors, first.

----

Even Warren Buffett agrees (and his heavily interviewed) espousing the necessity of taxing high net-worth individuals at higher rates (in his definition, $20M+ net-worth). He is not alone in Billionaires quotes similarly.

No Trillionaire has yet agreed with this statement, and fortunately this "accomplishment" must again (thankfully IMHO) wait to become precedent.

Re: US Treasury undertakes historic intervention in yen market

#133

Post by estearum »

iamnothere wrote: post #123
SpicyLemonZest wrote: post #99

Earlier quoted context omitted.

Understanding, absolutely. None of us are immune from propaganda, and most of us have at one time or another been swayed by selective arguments and echo chambers to behave poorly. I don’t like that you have empathy for people who are right this second steering the government in a project of performative cruelty against me. I think you should withhold your empathy until they’ve been stopped and appropriately punished…

Surely punishing the people will make them vote for us!

Do you think justice should only be dealt out when you think it'll generate a positive outcome for you personally on the other side?

Seems to me that people who have committed crimes should be punished for those crimes. Call it "LAW AND ORDER!!!!" or something

Re: US Treasury undertakes historic intervention in yen market

#134

Post by mindslight »

btown wrote: post #93
lazide wrote: post #86

Earlier quoted context omitted.

Anyone who thought the admin was anything but conmen deserves what they get. The sad part is everyone else they’re going to take with them.

> deserves what they get American voters exist in an environment of propaganda addiction, with every piece of their personal technology reinforcing and profiting from said addiction, that has never existed before. I have great empathy and understanding for those who are bombarded by voices that are actively manipulating them for engagement, and I believe this empathy is key to understanding if, and how, a landscape o…

I am certainly willing to accept, and empathize with, people being bombarded by political propaganda that leads them to stupid ideas. There is no shortage of this, across all political stripes.

What I will decidedly not accept is when people steadfastly refuse to listen to their fellow citizens' criticisms of their chosen propaganda, but instead go on the offensive attacking anyone who deviates from it - even when people are trying to engage with them using their own stated preferences regarding morals, rights, economics, etc! This is the highly toxic dynamic underlying the actual division, and is exactly what enables the negative-sum con job based around vice signalling.

Re: US Treasury undertakes historic intervention in yen market

#135

Post by blitzar »

inigyou wrote: post #94
blitzar wrote: post #22

Earlier quoted context omitted.

> kick that can down the road With two left feet and a couple of swings and misses, the can isnt in much danger.

You think the US collapse is going to happen right now despite this action?

You think they saved the human race by selling some EURJPY on Friday?

Re: US Treasury undertakes historic intervention in yen market

#136

Post by timacles »

phil21 wrote: post #77
eigenspace wrote: post #5

Japan holds a huge amount of US treasuries, and I guess was considering a mass sell off to raise cash to defend the Yen. US treasury bond yields are already dangerously high for the US and Japan selling treasuries would push yields up even higher, and could trigger more panic selling from others. I guess this is Bessent's scheme to try and kick that can down the road.

> I guess this is Bessent's scheme to try and kick that can down the road. This can be summed up policy for pretty much every single administration since I've been alive. For almost every single massively looming problem - financial, domestic, and foreign policy. Various degrees of can kicking I suppose, but the can shall be kicked regardless.

We as humans have to accept that systems operating on this scale have no other options than kicking the can down the road.

Like, throw the global economy into a 5-10 year depression is not an option, despite the fact that clearly it is what the economy needs in terms of a reset.

There is a very real possibility going down that path could cause an irreversible deflation spiral.

So the safer option must be chosen even if it creates mass wealth inequality and a different upwards inflation spiral which at least they can control

Re: US Treasury undertakes historic intervention in yen market

#137

Post by anonymars »

SpicyLemonZest wrote: post #99
btown wrote: post #93

Earlier quoted context omitted.

> deserves what they get American voters exist in an environment of propaganda addiction, with every piece of their personal technology reinforcing and profiting from said addiction, that has never existed before. I have great empathy and understanding for those who are bombarded by voices that are actively manipulating them for engagement, and I believe this empathy is key to understanding if, and how, a landscape o…

Understanding, absolutely. None of us are immune from propaganda, and most of us have at one time or another been swayed by selective arguments and echo chambers to behave poorly. I don’t like that you have empathy for people who are right this second steering the government in a project of performative cruelty against me. I think you should withhold your empathy until they’ve been stopped and appropriately punished…

Are you perhaps mixing up empathy and sympathy?

Re: US Treasury undertakes historic intervention in yen market

#138

Post by fnordpiglet »

dredmorbius wrote: post #44

Historic, yes. Unprecedented, no. The Treasury’s intervention to bolster the yen is the first since 1998, when it bought the currency in order to strengthen Japan’s economy after the yen had dropped to eight-year lows. The US intervened in Japan’s currency in 2011 to weaken it as part of a co-ordinated international effort to prevent a dangerous currency appreciation after the Tohoku earthquake and tsunami. (From TFA…

The start of the dot com boom I would mark at August 1995 when Netscape’s IPO was the most successful IPO to that date.

But really I mark it with the IETF RFC 1290 “There’s Gold In Them Thar Networks” in 1991.

But yes, the 21st century was defined in 1990’s. Everything since is derivative. I feel sad for those born after everything worth doing had been done already.

Re: US Treasury undertakes historic intervention in yen market

#139

Post by eigenspace »

jordanb wrote: post #128
epolanski wrote: post #113

Earlier quoted context omitted.

I'm just making you realize that what you're describing is inflationary.

So is the US Treasury actions. The US Treasury is using dollars to buy yen on the open market to support the price of yen versus the dollar.

It's actually using Euros to do it instead of USD.

Re: US Treasury undertakes historic intervention in yen market

#140

Post by iamnothere »

estearum wrote: post #133
iamnothere wrote: post #123

Earlier quoted context omitted.

Surely punishing the people will make them vote for us!

Do you think justice should only be dealt out when you think it'll generate a positive outcome for you personally on the other side? Seems to me that people who have committed crimes should be punished for those crimes. Call it "LAW AND ORDER!!!!" or something

I think that winning (and retaining political advantage over time) is probably a prerequisite for enacting any punishments, much less correcting other issues.
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