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This Major World Currency Is About to Plummet
“I had no place to stay and I wanted the police to take care of me,” said the 79-year-old Japanese woman. She had just slashed two people with a knife so the police would take her to jail.
A “gray” crime wave is sweeping Japan. According to the UK’s Independent, people over 65 years old make up 10% of Japan’s prison population, the highest rate of incarceration for pensioners in the industrialized world. Another source reported Japanese pensioners were responsible for one in seven arrests last year, up from one in 25 a decade ago.
The surge in “senior crime” is so…
18Mar2009 | Stansberry and Associates | 0 comments | ContinuedJapan’s Economy in the Gutter: Will the Yen Follow Its Lead?
Historically speaking, the Japanese yen has proved to be a safe haven against global turmoil. Right now, however, Japan’s economy is among the worst hit of all the global powers. It is ill prepared to weather the global storm and it’s falling like a rock.
That’s why, this time around, as Japan’s economy falls away, I think there’s a very good chance the yen could drop as well.
Obviously, this would be very bad news for the huge numbers of speculators and institutions that have literally bet their existence on yen-based hedging strategies. But while a freefall in the yen would be…
24Feb2009 | Money Morning | 0 comments | ContinuedYen Recovers Losses Against Majors
(RTTNews) – The Japanese currency recovered from last session’s losses against its major counterparts during New York morning trading on Monday. After ticking down to new multi-day lows in European deals, the yen showed some strength against major opponents in morning session today.
After edging down to 5-day lows of 99.49 against the US dollar and 84.95 versus the Swiss franc at around 5:45 am ET, the yen gained ground in New York morning deals today. At 11:00 am ET, the yen advanced to 98.37 against the greenback and 83.66 versus the franc.
The yen also strengthened against the euro from…
10Nov2008 | INO | Comments Off | Continued
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