The True Story of Japan

[opebo]

What is their debt-to-GDP ratio again? 250% yet? 300% soon? And how are they ever going to repay it...

'debt-to-GDP ratio' never matters when it is in your own currency, Polico. 

[opebo]

Oh yes. I forgot that in opebo's world you can simply erase debt with the stroke of a button without creating inflation. Did Zimbabwe appreciate your consultation?

Zimbabwe's crisis was caused by a lack of 'hard currency', Politico, which lack was in itself caused by destruction of a certain export-sector.  The second hardest currency in the world after the dollar is the Japanese Yen, and they can't have a shortage of it - they can create as much as they like.

[opebo]

Zimbabwe's crisis was caused by a lack of 'hard currency', Politico, which lack was in itself caused by destruction of a certain export-sector.  The second hardest currency in the world after the dollar is the Japanese Yen, and they can't have a shortage of it - they can create as much as they like.

No, Zimbabwe's crisis was essentially caused by conducting the monetary policy you espouse on this forum.

No, not at all.

[opebo]

The BOJ should head this off at the pass by tapering off 'private' bond sales and simply roll over the debt into the banks hands using fiat currency creation.  Problem solved, and maybe even putting a dent in the merciless deflation and currency appreciation as well.