by Nick Giambruno
Nick Giambruno: Doug, both the Federal Reserve and Bank of Japan (BOJ) had big meetings recently.
It seems the BOJ is eager to adopt every new “innovative” policy. I’m keeping a close eye on its strategy for debasing the yen since the Fed will probably adopt that method soon enough.
The BOJ’s latest gimmick is to target the yield curve by printing currency to buy up enough government bonds to keep the 10-year rate pegged at precisely zero.
What’s your take on this?
Doug Casey: At this point, I don’t see how anyone with an IQ above room temperature can believe that these academics know what they’re doing.