| | | | | Central bankers think they can wield the Ring of Power over price. But price will not be denied. It will always have its way.
And price demands that the yen fall despite the Bank of Japan’s interventions.
In fact, I’ll bet it’ll be the first fiat to fall off the face of the earth (though the British pound could arguably get there first). And this most recent symbolic move above 150 only pushes it that much closer to the edge.
I know that I promised to step you through two more headwinds pushing equity markets lower. But when yet more evidence of the glaring failures of centralized planning propitiously presents itself, I can’t help but point out the errors.
And the BOJ’s error is a doozy…
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