japan prepares to print money 4 the world-age, page-3

This is the really scary bit.
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"Stephen Jen from SLJ Macro Partners said the Bank of Japan is right to fret that a return to inflation could set off a spike in debt costs and a flight from Japanese government bonds (JGBs).

"Any meaningful sell-off in the JGBs could trigger a serious problem in Japan’s banking system. The holdings of JGBs by Japanese banks account for 900pc of their Tier I capital," he said. Better the Devil you know."
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Japans debt ratio to GDP makes Greece debt look insignificant.
All Japanese bonds held at near zero interest by Japanese people. No one else will touch it.
Introduce some inflation and whammo, not even the Japanese will want to own bonds at zero interest.
This may well be the "International elephant in the room"
IMHO