Summary:

Oxford PhD economist shows in a documentary why and how Japan's economy was wrecked in the 90s and how the euro-zone crisis was engineered by the ECB.

Body:

I realize this is a bit off topic, but the documentary was eye opening to me regarding the big economic picture.

“Princes of the Yen” reveals how Japanese society was transformed to suit the agenda and desire of powerful interest groups, and how citizens were kept entirely in the dark about this.

Based on a book by Professor Richard Werner, a visiting researcher at the Bank of Japan during the 90s crash, during which the stock market dropped by 80% and house prices by up to 84%. The film uncovers the real cause of this extraordinary period in recent Japanese history.

Making extensive use of archival footage and TV appearances of Richard Werner from the time, the viewer is guided to a new understanding of what makes the world tick. And discovers that what happened in Japan almost 25 years ago is again repeating itself in Europe. To understand how, why and by whom, watch this film.

“Princes of the Yen” is an unprecedented challenge to today’s dominant ideological belief system, and the control levers that underpin it. Piece by piece, reality is deconstructed to reveal the world as it is, not as those in power would like us to believe that it is.

“Because only power that is hidden is power that endures.”

https://www.youtube.com/watch?v=p5Ac7ap_MAY

The documentary is very in depth, but here is a quick summar from memory:

  • It starts with the occupation of Japan after WW2 is finished.
  • The planned economy works fine, but works perhaps too well for the US as japanese companies start to become dominant internationally.
  • Steps are taken to put the right people into the right positions to put economic policies in place that will create a bubble.
  • A large crisis via a bubble is deemed necessary in order to be able to enact deep structural changes of the economy.
  • The documentary does not mention who is behind it but imo it's the international banking elite in combination with various parties that defend US national interests.
  • Bubble bursts, millions are permanently out of their job, lots of people kill themselves (as in the great depression in the US).
  • Structural reforms were put into place and the japanese economy has been weak ever since. Vulture funds profited.
  • Next is the South East Asian banking crisis in the 90s. International interests behind the IMF, UN etc. pushed for a liberalization of the banking sector, borrowing overseas was cheaper which later enabled the IMF to force unfavorable exchange rates and policies on the countries when the countries ran out of foreign currency reserves to cover the debts.
  • Europe is last. The study that supported the creation of the EUR as a single currency for all of Europe was rigged. The eurozone crisis was engineered by the ECB via similar means as Japan's banking crisis. The ECB is extra-judiciary and it's heads have diplomatic immunity.

Conclusion:

We're all just beta plebs to the powers that be and you might want to think about taking steps to hedge against the impact of future large scale economic manipulations (i.e. not over leveraging credit, diversifying investments, being cautious about potential bubbles etc.).