Fantastic as someone looking for an affordable vacation destination.
It’s been in this range for a year or so and flight prices and hotel prices still suck for most people.
Yen weakens past ¥160 per dollar, eroding intervention gains
61–70 of 74 posts
Re: Yen weakens past ¥160 per dollar, eroding intervention gains
#62Earlier quoted context omitted.
The carry trade does not hide public US debt. The US Treasury is concerned about Japan because it’s like the first or second largest holder of Treasuries in the world. > If the US is not trying to defend the US dollar, why'd they use Euros and not USD to prop up the Yen Because that was the legal facility open to them. They used a foreign currency reserve that they had the ability to trade. > And, if it is better for…
> The carry trade does not hide public US debt. The US Treasury is concerned about Japan because it’s like the first or second largest holder of Treasuries in the world. I never wrote it hides the debt, it borrows JPY at a low interest rate and then buys U.S. treasuries at a higher interest rate, making money on the difference. > Because that was the legal facility open to them. They used a foreign currency reserve t…
> I never wrote it hides the debt
Hm?
> > The carry trade hides a lot of US debt, too.
Your comment.
Anyway, have a nice day.
Re: Yen weakens past ¥160 per dollar, eroding intervention gains
#63Defending currency has to have some quip, right? Something like, "The market can remain honest longer than your central bank can stay solvent"? Always seems to go wrong. Like spraying water on a forest fire with a straw.
Current moves have been to implode all currencies, but peg the dollar to petrol, so it floats slightly higher on the pile.
The only ways to pay back 120%+ GDP is hyper-inflation or a debt jubilee. Given the South Seas company debt interest is still being paid back, doubt it will be the latter.
Re: Yen weakens past ¥160 per dollar, eroding intervention gains
#64The BoJ has to raise rates. Dumping Dollars to buy Yen is spitting in the wind.
It's not that simple. Untold numbers of U.S. bonds are held by people running the "carry trade" (borrowing JPY at low interest rates in order to buy mostly U.S. treasuries and make money on the difference). If you raise JPY rates, then these U.S. treasuries are going to get liquidated driving up U.S. rates and of course the U.S. doesn't like that. So, I believe the US is pressuring Japan NOT to raise rates, i.e. to s…
More detail on the Patrick Boyle video where the actual picture of Bessent's note that included that purchase is mentioned. Also the fact that these are specifically French bonds that were dumped with no warning. This is dropping the mask of Western solidarity I think Xi is over the moon
Re: Yen weakens past ¥160 per dollar, eroding intervention gains
#65Earlier quoted context omitted.
> The carry trade does not hide public US debt. The US Treasury is concerned about Japan because it’s like the first or second largest holder of Treasuries in the world. I never wrote it hides the debt, it borrows JPY at a low interest rate and then buys U.S. treasuries at a higher interest rate, making money on the difference. > Because that was the legal facility open to them. They used a foreign currency reserve t…
> I never wrote it hides the debt Hm? > > The carry trade hides a lot of US debt, too. Your comment. Anyway, have a nice day.
I misspelled held. Got me though. Too bad you didn't want to actually engage in dialog. You sure seem to know a lot.
Re: Yen weakens past ¥160 per dollar, eroding intervention gains
#66Fantastic as someone looking for an affordable vacation destination.
The environment is being destroyed and all we can think about is taking another flight.
Re: Yen weakens past ¥160 per dollar, eroding intervention gains
#67I live in Japan and five years ago my drinking buddy at the time only had USD and was about to get on the shinkansen. He needed Yen ASAP. So he said, "dude I'll trade you a 100USD for 10000YEN." At the time it was an easy fifteen bucks or something profit after exchange, so I said, sure, here ya go. I put it in a drawer and forgot about it until a few weeks ago. I'm going to the moon with this, ladies and gentlemen
It used to be the rule of thumb - 1 dollar - 100 yen. I guess it still is - it just went from 1 USD to 1 AUD to now 1 NZD :-D
I still do that in my head-- minus two zeros. But nope, not even close now. It was a habit for so long, it's hard to correct...
Re: Yen weakens past ¥160 per dollar, eroding intervention gains
#68Earlier quoted context omitted.
He literally put 100USD in front of me, said he forgot to get more yen before his trip, and asked for a favor. Am I really in the wrong from your perspective?
You could have given him the bill for his immediate expenses and later give him the difference. Or pay him a beer or a lunch to make up for it. I'd never take advantage of a friend in need like that. And as you said, "it was an easy 15 bucks". You were very aware of what you were doing: easy money off your "friend", instead of friends not minding a few dollars missing here or there.
I don't know what kind of friends you have, but mine take offense to being offered something they didn't ask for, like they are beggars or are owed something.
He stayed with me for a week last year. We had a big bbq. I stuffed him full of akaushi beef. I didn't ask for a dime, nor would I ever.
I guess you maintain friendships with an excel sheet handy? good for you I guess
Re: Yen weakens past ¥160 per dollar, eroding intervention gains
#69Earlier quoted context omitted.
Does seem within the range of “hit me back when I see you next week, buddy” though.
shoobiedoo was now stuck with a locally useless $100 American. So, he was actually given a hassle to resolve of getting it converted back to yen. If the guy was so hot to not lose a dime, he could have said, “Loan me 10k yen right now, I will pay you back ASAP”. If the guy is in Japan with American currency, he likely knows the exchange rate and exactly the terms he was getting.
yep. at that time, I would have had to take it to the exchange, with my passport, pay a fee, and barely break even. I really didn't think that needed to be said, but people always come out of the woodwork to convince themselves they are morally superior