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"Well, under the QQE policy, the Bank proposes to pump and additional ¥80 trillion per year into the banks’ reserve balances and then tax them 0.1 per cent into the bargain."
I'm tellin' ya they think they are broke!
So they buy a bunch of bonds and tax the reserve balances created voila! They can pay the utility bills at the CB....
Check my math is that 80B yen? equiv to $650M USDs...
He is preparing you mentally for what is coming to the US soon lol
ReplyDeleteCognitive dissonance kicking in big time.
ReplyDeleteBetter go negative in the US as well as I predicted it at work or I am going to look silly. Kalecki better be right about this 😊
ReplyDeleteOMG I hope not...
ReplyDeleteThis is classic from Bill's BOJ thing this AM:
"Well, under the QQE policy, the Bank proposes to pump and additional ¥80 trillion per year into the banks’ reserve balances and then tax them 0.1 per cent into the bargain."
I'm tellin' ya they think they are broke!
So they buy a bunch of bonds and tax the reserve balances created voila! They can pay the utility bills at the CB....
Check my math is that 80B yen? equiv to $650M USDs...
@andy: We can overlook the occasional error from a dead economist, but if they ever made us look silly at work, we'd have to draw the line. :-)
ReplyDelete