Friday, June 22, 2007
Friday at the Dentist ?
Just another Friday? Ummm no. It is the last Friday before the end-of- -the-quarter, and no one with meaningful interests in Yen weakness is going to drop the ball here and now. Not after having positioned and driven, and yes, drilled (See chart above and photo below) the Yen (and any remaining longs) into the direction of painful oblivion. Performance league tables, sticky incentive fee marks, etc. are too valuable to be left to the vagaries chance.
And like the infamous ex-Nazi dentist depicted right, Vice-Minister Fujii has continued to campaign of rhetoric and hyperbole "warning" that tax receipts will likely fall short of official estimates, which perhaps can be seen as MoF anti-venom to Mr Yen's comments imploring the gov't to normalize rates.
But How does the Ministry of Finance manage this relentless compaign spinning every stat and information innovation such that it is seen as either deflationary outright negative for the Yen? I believe that I've found the answer. You see the Ministry of Finance has engaged a team of heroic experts such dark arts, a photo which I've managed to garner (see left). Famous 1960s Japanese hero, "Ultraman" (center) is seen here with his secret team.