The crash of the yen in recent days points to massive problems in Japan. With a national debt of over 250% in relation to gross domestic product, it is basically impossible to stabilize the currency through interest rates. The central bank's only option is therefore to sell US government bonds and use the proceeds to exchange dollars for yen.
However, this is likely to meet with open resistance from the Americans. Is the Japanese central bank now trapped? As always, the victims are the consumers, whose purchasing power is being systematically eroded. At the same time, we witnessed the collapse of another American regional bank last night.
The attack by the American authorities on Bitcoin and its self-custody philosophy is also telling. Are we at the beginning of a major banking crisis that will lead to a sovereign debt crisis? Strong nerves are needed now!