Excellent points. I would add that Japan has an enormous positive net investment position and positive current account. This has enabled them to have a relatively stable Yen (until recently) despite the yield curve control policy. It would a huge mistake to assume that the US, with its massively negative current account and negative investment position, will be able to pursue a similar monetary policy and not experience a currency collapse. Unless perhaps the entire developed world is pursuing similar policies. Got gold?
Excellent points. I would add that Japan has an enormous positive net investment position and positive current account. This has enabled them to have a relatively stable Yen (until recently) despite the yield curve control policy. It would a huge mistake to assume that the US, with its massively negative current account and negative investment position, will be able to pursue a similar monetary policy and not experience a currency collapse. Unless perhaps the entire developed world is pursuing similar policies. Got gold?