Haruhiko Kuroda of Japan’s Central Bank announces negative interest rate while Emperor Akihito and Empress Michiko visit the Philippines

"What do you think, Michiko, will the leaders of the Philippines provide us some gold on consignment to back our Yen?"

“What do you think, Michiko, will the leaders of the Philippines provide us some gold on consignment to back our Yen?” “If they do, Akihito, I hope it won’t kick off a currency war?”

Japan’s Emperor Akihito along with his wife Empress (Crown Princess) Michiko, visited the Philippines between January 26th to the 30th on an official state visit during which time Japan’s central bank head, Haruhiko Kuroda announced on Friday, January 29th that the Bank of Japan will adopt a negative interest rate. Impeccable timing on that negative interest call. This has apparently blindsided global financial markets Friday by “adopting negative interest rates for the first time ever, buckling under pressure to revive growth in the world’s third-largest economy.” Other countries have done this as well but what makes this significant is that Japan’s central bank has led the way with QE. My bet is the Emperor and Empress were in the Philippines on an official state visit with their household diplomats in toe to see whether or not the Philippines would provide Japan with gold to back its failing Yen?

George Bush was asked, “Which is the richest country in the world today?” He answered, “The Philippines, Marcos knew it, but he could not talk.”

Arrival of Their Majesties The Emperor and Empress of Japan 1/26/2016

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