I don't know what this really means but I thought it was an interesting comparison.
Back in the 70s the yen was at ~300, so this is money supply comparison of the USD vs the JPY at its historically weaker level (it was at 360 for the 1950s & 60s).
Clearly Greenspan flooded the world with dollars to float the new neoliberal globalism trade regime.
It's no wonder the JPY rose to ¥80 . . . how could the BOJ compete with that???
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http://research.stlouisfed.org/fred2/graph/?g=Ifr
I don't know what this really means but I thought it was an interesting comparison.
Back in the 70s the yen was at ~300, so this is money supply comparison of the USD vs the JPY at its historically weaker level (it was at 360 for the 1950s & 60s).
Clearly Greenspan flooded the world with dollars to float the new neoliberal globalism trade regime.
It's no wonder the JPY rose to ¥80 . . . how could the BOJ compete with that???