Trillion Dollar Reporter
(Reporter milliards de dollars)
My idea is as follows:
The US Government prints Japanese yen bills worth 800 trillion yen or $8 trillion and gives them to Japan.
The Japanese Government prints US dollar bills worth $9 trillion and gives them to the U.S.
I call this scheme “The EEE-REPORTER’S Trillion-Dollars Initiative,” since …
(If you doubt, just enter “Japanese Trillion Dollar Reporter” in a key-word field of Yahoo’s Web Search.)
(As many viewers accessed Yahoo, now EEE-Reporter's position has decreased to the 22nd with the keyword; so please try, say, the AltaVista search engine to confirm it...[4/27, eer])
SECTION I: CHINA UNDER FINANCIAL IMPACT
A month ago, a Chinese investment company suffered a loss of $1.4 billion due to a decline of appraised value of its stock holding.
It is because the stocks they hold are of US Blackstone Group that recorded a loss in the fourth quarter of 2007 due to the subprime loan issue, which triggered the steep fall in its stock prices, leading to the big loss of the Chinese investment company and probably the Shanghai Stock Market.
( http://news.searchina.ne.jp/disp.cgi?y=2008&d=0314&f=business_0314_010.shtml )
US Blackstone Group, which recently established a subsidiary company in Japan, is said to be the globally largest investment company with invested assets worth almost $90 billion.
But, what is more interesting might be its founder Mr. Peter George Peterson.
SECTION II: PETER GEORGE PETERSON
If you can read Japanese, you had better refer to p.205 of the following Japanese book by Mr. Yasuhiko Nakata:
(http://www.amazon.co.jp/gp/product/images/4062879271/ref=dp_image_0?ie=UTF8&n=465392&s=books )
However, Mr. Peter George Peterson is globally introduced as below:
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In 1985, he co-founded the prominent private equity and investment management firm, the Blackstone Group, for which his current position is Senior Chairman.
…
Peterson has been Chairman of the Council on Foreign Relations since 1985, when he took over from David Rockefeller. He also serves as Trustee of the Rockefeller family's Japan Society and the Museum of Modern Art, and was previously on the board of Rockefeller Center Properties, Inc..
He is founding Chairman of the Peterson Institute (formerly the Institute for International Economics, renamed in his honour in 2006), and a Trustee of the Committee for Economic Development. He was also Chairman of the Federal Reserve Bank of New York between 2000 and 2004.
http://en.wikipedia.org/wiki/Peter_George_Peterson
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So, Mr. Peterson, with mighty potential that could topple the Shanghai Stock Market, has two influential intelligent tools: Council on Foreign Relations and Peterson Institute (IIE).
SECTION III: COUNCIL ON FOREIGN RELATIONS (CFR)
CFR is globally introduced as below:
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Through its membership, meetings, and studies, it has been called the most powerful agent of United States foreign policy outside the State Department.
It publishes the bi-monthly journal Foreign Affairs. It has an extensive website, featuring links to its think tank, The David Rockefeller Studies Program, other programs and projects, publications, history, biographies of notable directors and other board members, corporate members, and press releases.
http://en.wikipedia.org/wiki/Council_on_Foreign_Relations
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We can check one of its reports:
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October 24, 2000
Future Directions for U.S. Economic Policy Toward Japan
But as-or rather if-Japan continues to open its doors to foreign direct investment, American companies are likely to have many more opportunities to foster structural changes through their ongoing operations in Japan than the American government is likely to have through bilateral negotiations.
Some in the Japanese bureaucracy welcomed foreign purchases of bad bank loans at discounted prices to ease the banking crisis. And as foreign capital was attracted for this purpose, foreign direct investment flows into Japan began to increase. Recent high-profile cases of such investment include: Ripplewood's purchase of the Long-Term Credit Bank of Japan (LTCB); Merrill Lynch's purchase of part of Yamaichi Securities; Citigroup's merger with Nikko Securities; GE Capital's investments in Japan Leasing and Toho Life Insurance; Nissan's joint venture with Renault; Cable and Wireless's acquisition of International Digital Communications (IDC); and Daimler-Chrysler's partnership with Mitsubishi Motors.
Analysts predicted that approximately one-quarter to one-third of the 106-trillion-yen maturing in the Postal Savings System over the next two years would be invested in alternative higher yield, though riskier, assets. To date, however, investors have shied away from equities, choosing to reinvest most of maturing funds in other types of accounts in the Postal Savings System or at other banks.
Foreign financial institutions are working hard to educate Japanese investors about the rates of return they can expect by investing in equities, and they hope that the need for retirement savings will entice Japanese investors to put a much larger fraction of their savings in the stock market over time. Large U.S. institutions like Goldman Sachs, Merrill Lynch, and Fidelity are using sophisticated advertising, including weekly television shows, to attract Japanese investors.
http://www.cfr.org/content/publications/attachments/Economic_Policy_Toward_Japan.pdf
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CFR is busy trying to help US financial institutes grab a big profit in the Japanese money market in the manner even the US Government would hesitate to take.
One of strong criticisms against the former Koizumi Administration is that then Prime Minister Mr. Jyunichiro Koizumi took too drastic and strong measures in privatizing the Japanese Postal Saving System with help of a notable economist, Mr. Heizo Takenaka who was appointed to a Minister of the Cabinet for this purpose.
Mr. Heizo Takenaka is said to have once worked in IIE, namely, the Peterson Institute.
SECTION IV: PETERSON INSTITUTE (IIE)
Peterson Institute is globally introduced as below:
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The institute chairman is the chairman of the Council on Foreign Relations and former United States Secretary of Commerce, Peter G.Peterson…
Other prominent members of the institute's board of directors include:
…
Paul O'Neill, former United States Secretary of the Treasury;
David Rockefeller, former chairman of Chase Manhattan Bank;
Lawrence Summers, former United States Secretary of the Treasury;
Paul Volcker, former Chairman of the Federal Reserve;
…
Fred Bergsten (Director),
…
http://en.wikipedia.org/wiki/Peterson_Institute
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We can check one of its reports:
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October 10, 2007
Recent Financial Disturbances and Risks to
the Outlook Beyond the United States
…
Japan: Taking it in stride (for a change)
• Thanks to Takenaka and foreign investors, the core
banking system is well-capitalized
• The financial system is increasingly diversified
– Though more for corporate than household borrowers
• BOJ and FSA may want to be moralistic hazards, but
political and economic constraints will prevent them
…
Bottom Line For The Outlook:
Be concerned about European financial risks
• Though the shock originated in the US, the financial and
supervisory structure in the Eurozone is more fragile
• The current recovery is not a robust buffer
– German and Italian recoveries are not sustainable
– British, Irish, and Spanish real estate bubbles are significant
• The ECB’s willingness and room to act will prevent a
persistent downturn from financial troubles, but not some firstround
drag or supervisory problems from local real estate
http://www.petersoninstitute.org/publications/papers/posen1007gep.pdf
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To your astonishment, just several months ago, they did not use the term “subprime loan trillion dollar crisis.”
As early in April IMF presented estimation of a total loss related to subprime loan problem to reach $1 trillion, this Peterson Institute’s report looks very strange.
That is why I am telling you that you should not think American elites to be very smart, though famous Japanese economist Mr. Takenaka, reportedly having well practiced his English and knowledge of accounting in the Peterson Institute, also failed in predicting this subprime-loan triggered crisis as he looked so on his TV appearance in the Japan's popular Sunday morning interview program Mr. Soichiro Tawara moderates.
SECTION V: JAPAN-US TRILLION DOLLAR COOPERATION PROJECT
Now, you may come to like to listen to my proposal on the Japan-US Trillion Dollar Mutual Cooperation.
It is to conquer the potential global great depression which could be triggered by $9 trillion deficits in the U.S. and $8 trillion deficits in Japan as I wrote yesterday.
My idea is as follows:
The US Government prints Japanese yen bills worth 800 trillion yen or $8 trillion and gives them to Japan.
The Japanese Government prints US dollar bills worth $9 trillion and gives them to the U.S.
This transaction will take a form of the selling and buying of citizenship entitlement authorized by each Government, so that all the Japanese have a legitimate right to live in the U.S. as US citizens and all the Americans have a legitimate right to live in Japan as Japanese citizens.
The US Government sells this right to Japan at $9 trillion (so as to earn $9 trillion and offset the deficits).
The Japanese Government sells this right to the U.S. at 800 trillion yen or $8 trillion (so as to earn 800 trillion yen and offset the deficits).
Concrete and detailed contents of this “nationality transaction” will be probably defined by CFR, Peterson Institute (IIE), and Japan’s Ministry of Finance.
But, there might be a need to establish a new financial federal system between Japan and the U.S.
Or, we may adopt a secret code for this project, until it is officially introduced to the world, such as “The EEE-REPORTER’S Trillion-Dollars Initiative.”
My request for royalty of the use of the term “EEE-REPORTER” is very humble.
One percent of one percent of $8 trillion plus $9 trillion is, for example, just $1,700,000,000, since $17 trillion is 17,000,000,000,000.
(Joking apart, though you may hate to leave, today a big May Day meeting is being held in Japan.
It is time to sit down and think about a non-nonsense issue, namely US $9 trillion national debt problem and Japan’s $8 trillion national debt problem, since I have a feeling that God has requested me to be in charge though not for a tiny reward such as $1.7 billion…
Forget about it, since it is just $1.7 billion…
So, good girls and Mlles., forget about it, just $1.7...my breakfast...O Lord!
[Listen to the one before I am sniped at, since it is a matter of ten quadrillions if there found is love beyond reasonable doubt:
http://www.fukuchan.ac/music/j-folk0/nobarasakumichi.html ])
Dan 4:25 That they shall drive thee from men, and thy dwelling shall be with the beasts of the field, and they shall make thee to eat grass as oxen, and they shall wet thee with the dew of heaven, and seven times shall pass over thee, till thou know that the most High ruleth in the kingdom of men, and giveth it to whomsoever he will.
Dan 4:26 And whereas they commanded to leave the stump of the tree roots; thy kingdom shall be sure unto thee, after that thou shalt have known that the heavens do rule.