The NY Fed has confirmed it helped in efforts to weaken the Japanese currency, thereby making the purchase of imported goods more expensive for the Japanese people.
WASHINGTON (AP) — The New York Federal Reserve Bank confirmed that it intervened in currency markets on Friday for the first time in more than a decade.
The disclosure came a day after the Group of Seven major industrialized nations pledged in a statement to join in a coordinated effort to weaken the Japanese yen. The yen has surged in the last week to post-war record levels following the Japanese earthquake and tsunami.
Obviously what the Japanese people need to do now is keep their currency weak so they can continue exporting cheap goods for US consumers.
This action by the Fed is nothing short of genocide.
By weakening the Japanese currency, in total disregard for what the market says is the right thing to do, they have made the cost of purchasing recovery and rebuilding materials massively more expensive for the Japanese population.
The Japanese people need a strong currency in order to be able to purchase imported goods cheaply so they can rebuild all the capital resources that were lost in the tsunami disaster.
The Fed, in coordination with the central bank of Japan, set about destroying the Japanese currency for one reason only – to keep the US bond market propped up.
You see, Japan needs money in order to rebuild. This money SHOULD come by the Japanese selling off all the US treasury bonds that they are holding. This would give them instant cash to buy goods in order to rebuild. However, this same action would further destroy the US dollar.
Of course, our criminal overlords can not let this happen.
In fact just shortly after the disaster, Overlord Geithner went on the record making it clear that no such thing would occur. How did he know it would not occur? Because the central banks had already decided just moments after the disaster that they would blow up the Japanese currency before any possibility of a bond sell off could occur.