By Bill Holter:
The Bank of Japan announced over the weekend that they are considering buying derivatives to jump start their economy. Oh yes, that will do it! Print money (currency) lots and lots of it, purchase derivatives that are worthless and have zero chance of performing and book them on your balance sheet.
Yes I know, taking dead derivatives off of bank balance sheets and replacing them with Yen, Dollars or what have you will “strengthen” the selling banks balance sheet by removing the Albatross but….what about the central bank’s balance sheet?
This cannot work because all they are doing is destroying themselves!