mm what it shows is the power of Central Banks in a fiat currency. BoJ has experimented with just about every form of economic manipulation except for the direct purchasing of equities and toxic debt.. It has bought ETFs only. The FED has bought less than prime CDOs. Junk actually.
BoJ has bought at government bond auctions when no one else turned up. The list goes on and on. It's balance sheet looks about as risky as Virgin Airlines.
Every CB on the globe has watched the Japanese economy to see just how far their CBs can push the envelope. But so long as the yen is considered a ""safe haven currency"" the house of cards stands. I wonder how stable it is now with a virus gnawing away at it's fundamentals?
