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There are two types of depreciation. there is one where you're manipulating currencies. and that's not what japan is doing.
-Jamie Dimon
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There Are Two Types Of Depreciation. There

Jamie Dimon
There are two types of depreciation. there is one where you're manipulating currencies. and that's not what japan is doing.
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Japan Two Currency

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I remember my very first encounter with japan. at that time, i was deputy mayor of st petersburg. out of nowhere, japan's consul general in st petersburg came to my office and said japan's ministry of foreign affairs wanted to invite me to japan. i was very surprised because i had nothing to do with japan except being a judoka. this was an opportunity to visit tokyo and a couple of other cities. and, you know, a capital is a capital everywhere: there is the official script and certain protocol. it is always easier to talk in the provinces, the conversation is more natural.
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As far as income goes, there are three currencies in the world; most people ignore two. the three currencies are time, income and mobility, in descending order of importance. most people focus exclusively on income.
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In practice [monetary management] is merely a high-sounding euphemism for continuous currency debasement. it consists of constant lying in order to support constant swindling. instead of automatic currencies based on gold, people are forced to take managed currencies based on guile. instead of precious metals they hold paper promises whose value falls with every bureaucratic whim. and they are suavely assured that only hopelessly antiquated minds dream of returning to truth and honesty and solvency and gold.
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Manipulating currencies is when you're going into the marketplace and buying something in large amounts to depress the value of the currency.
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Now, everybody knows the basic erogenous zones. you got one, two, three, four, five, six, and seven. ... ok, now most guys will hit one, two, three and then go to seven and set up camp. ... you want to hit 'em all and you wanna mix 'em up. you gotta keep 'em on their toes. ... you could start out with a little one. a two. a one, two, three. a three. a five. a four. a three, two. two. a two, four, six. two, four, six. four. two. two. four, seven! five, seven! six, seven! seven! seven! seven! seven! seven! seven! seven! seven! seven! [holds up seven fingers]
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