These days its tough keeping up with the Jones’s er…Bernanke’s.
In what is labelled a surprise move by the MSM but should come as no surprise to any SD reader who understands that Quantitative Easing is going to Infinity..AND BEYOND among all Western nations- the BOJ Wednesday expanded it’s QE asset purchase program to ¥80 trillion.
Yes, you read that correctly, ¥80 trillion.
The Bank of Japan took surprisingly strong steps to further ease its monetary policy following similar steps by the Federal Reserve, as it tries to tackle entrenched deflation, an export-sapping strong yen, and the impact of slowing global growth.
The central bank’s policy board decided at the end of a two-day meeting to increase the size of its asset purchase program—the main tool for monetary easing amid near-zero interest rates—to ¥80 trillion ($1.01 trillion) from ¥70 trillion.
The dollar rose quickly against the yen following the announcement, to ¥79.02 from ¥78.69.
A trillion here, a trillion there, pretty soon we’re talking about REAL money printing!