"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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Yen Gold Scores All Time High
Currency Debasement = Higher Gold Prices. Any questions?
By the way, if you think this is something, you should see what is happening to crude oil prices in Yen terms. The Japanese political and monetary leaders are certainly doing their best to kill deflation over there. Pity the average Japanese citizen whose stock portfolio is looking great while their standard of living is dropping into the toilet.
Good Bible Quote
ReplyDeleteMakingMillionsByGod.com
Dan your commentary is always outstanding. Not a Japanese citizen but an expat living in Nihon I can say that things are not any worse than they've been in the last few years, not YET anyhow. I expect things to change rapidly, but I assume the recent drop in gold will stave off any major inflationary hits here.
ReplyDeleteOne thing I often wonder is: how can the JPY be down 25%, yet gasoline here is only up 5%? The J-gov must be keeping a lid on things is all I can guess.